Quote from @Carrie Young: Has anyone had an update?

I've seen the wholesaler deals that get sent out, they are barely under market value and carry more risk.

So you might as well be a head of the game do the cash out refinance buy the next 1-2 properties and simply refinance the original mortgage as a "rate and term" which carries a lower rate.

Anything Lee touches turns to GOLD! 

So much wrong with this.. but hey got to hand to the guys coming up with all these new little tricks to sell to folks.. just like in the gold rush it was the hardware stores that made a killing not the miners. i agree... sent you a dm

Can you carry the property for the construction period?

It goes both ways....let's carry on talking about RE investing and keep the personal conversations elsewhere.

Our total invested into this property is 1.14 million among 10 investors (this amount does include a 250k seller carry loan to be paid off by the 2 of the investors over 5 years).This property was up and running starting December 15 and we have had it pretty booked since then.  

If I am all in on the property for 360k (purchase and some finishing construction as well as carry costs) and the home is valued at 450k or more (based on what im told by agents as well as my own analysis while staying conservative), that is 20%+ equity I believe, unless I am missing something.

EXACTLY Darius its well known in those circles  this is why the state of PA is coming out with new laws that will clearly define how the lease option works and treat it more like a seller carry back with Dodd Frank protections..