Some condos are non-warrantable meaning you have to use non-government backed loans.

An original purchase loan was taken in 1998, which was refinanced in 2004, and then again in 2005.

RichWe can do DSCR loans with no prepayment penalty.

I ended up having about 10 abandoned vehicles / RV's (some looked like meth labs...think Breaking Bad).What made you interested in investing in this type of deal?

I financed it with my VA loan How did you add value to the deal?

Commercial loan How did you add value to the deal?

If those don’t align, vacation rental or investment property loans might be better options.

But if you’re going into a 7% loan with little cashflow or appreciation potential I would look for a different buy box. 

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Our agent is not an expert on this type of deal but suggested a short loan term of 3 or 4 years and a balloon payment and written up by a lawyer.