In other words, if you believe the building will appraise for $650,000, you'll need $520,000 of equity for the classic refi to dump your PMI.Less obvious solutions involve 90% LTV loans with no PMI (though the rate is usually a bit higher, it still results in big savings compared to FHA PMI,) or an 80/10/10 loan, which is similar to the first option but involves a second loan (which could also even be cash out.)

Classic example: ARV $100k, you buy it for $50k, clean it up, clean it out etc and you want to sell to an investor for $60k cash.

I will say that my personal opinion is this is a very typical contractor, and its a classic scenario.  

I like the classic William Nickerson how I turned 1,000 into 5,000,000 .  

As a Real estate agent, I do a lot of cold calls and i'm familiar with expired listing, fsbo,and just classic cold calls..so I started to create a buyer database that might be my potentials buyers in the future.

As a Real estate agent, I do a lot of cold calls and i'm familiar with expired listing, fsbo,and just classic cold calls..so I started to create a buyer database that might be my potentials buyers in the future.

This is not the classic tale that most of you have heard in your life of David and Goliath.

And some classics of landlord lit are posted in my blog (older books you could get free/low cost used) should you ever want to give it a try or have ideas  for  the place...Best of luck..

Now that is classic!

Welcome to the Classic City!