A HELOC carries a higher rate over a shorter amortization usually 10 or 15 years and a mortgage carries a lower rate over a 30 year amortization offering a lower payment.You have to run the math in each scenario because the math differs based on a few things like Fico score, CLTV, Loan size, and time frame between purchase and refinance of new property.

Hi BP Peeps,So I have run into a good problem.

in some markets thats only 3 or 4 transactions.. to me of course I am highly biased because I started as an agent at 18 and got my brokers at 20 and only worked for myself the last 48 years.. having access to MLS and list my own deals more than pays for any over head.

The run off in the attic was overflowing.

The idea is if banks were doing all the owner occ loans the cost to the buyer would go down by 5k to 15k per transaction depending on the price of the home  Plus approvals would happen faster and there would not be this intense need to solve the underwriters every little crazy question  I am sure you have run into this over the years..

My partner and I would run and complete all construction and inspections.Has anyone had experience with this and if so, does anyone have a GC in TN that may be interested in this opportunity for hands off passive income?

Thanks for the heads up.

Seems worth it though, so I'm not running around trying to piece things together an build my own empire of employee and agents, etc.

I haven't run any numbers on this, but I've seen similar setups and at some point you are really just ahead the month. 

It would be perfect for someone running their own business and wants to live on site.