Finding a hard money lender willing to cover 100% of the rehab costs up front is less common, but it’s not impossible.

Hopefully you kept the deposit to cover the costs as that is likely all you'll see.

Look into a renovation loan that would cover both the purchase and the rehab costs.

Sottile and Barile (https://sottileandbarile.com/) covers IL.

However, you will need to pay the additional cost of securing a new mortgage.This is based on:* I added $600 to ARM to cover its additional expense (increases monthly payment to $5,104)* No prepayment, except all paid off at end of year 5 for both loansThese are the monthly movements, I hid a lot of rows for simplicity

Hi folks, this has been all over the news and social media so I hope it's not a surprise to anyone but I just wanted to cover all the bases.Due to legislation spearheaded by the RI attorney general earlier this year, there is a new RI rental registry in place that requires all rental unit owners (even short term rentals) to register every rental property and rental unit in the state of RI, by October 1, 2024.The website is www.rentalregistry.ri.gov and you will also need to upload a current lead certificate ("Certificate of Lead Conformance") for each rental unit.The demand is so high that lead inspectors are currently booked out into November and December, so I hope you already have lead paint certs for all your units.

We provided the capital needed to purchase the property and cover the $105,000 in renovations.

The appraisal indicates the rents will cover 1.1 of the PITI, and the credit is good, with 20% down, solid savings, and a W2 earner (a beautiful lending profile).

Then you have price improvements of .110 and .050 for total of 4.965% in LLPAs.This means that the rate has to pay enough to cover the LLPAs plus whatever the lender is trying to make.In case like this, where the LLPA hits exceed what the rate pays, that difference is charged to the consumer.

But if buyer has that much money to cover gap in any appraisal vs purchase price, wouldn't they be more likely to just pay their own buyer broker fee?