And with your experience in NC and SC, I believe that you can help me to understand more about the area.

I have a couple of contacts I could put you in touch with in the area if you would like at a local bank that might be able to assist you on the re-fi as you get more serious.Just so I understand correctly, a few questions/comments:1) What will your total loan and rehab costs be for the FHA product upon completion of the project? 

I am sure that it is only a matter of time b/f I get a good hit on one of my listings there.

Originally posted by Jenny F.:i

stephen------------ Originally posted by Colleen F.: I have had a number of people look at a current rental and the ones that apply have been rejected so far.

starting out you can't focus on 1 point being too high.. its all about building track record.now I personally have a few loans from other institutions of other than my commercial bank.so lets set that expectation.. full doc  long track record.. hundreds of projects in the last few years all verifiable by public records.. and at my commercial bank in SC  I am at 1. and 5.5  and only pay interest on drawn funds.in Oregon I am at 1 and 6%  again only interest on drawn funds.when I borrowed a few million from lendinghome  for some texas deals ( that were bummers never again) I was at 1 and 8 but paid on commitment. doing a vertical right now in Charleston ( these are quite hard to get and first timers probably cant get one unless they are extremely high wage earners)  but Lima one is doing this for 1.5% and 8  with a 3% rate on un drawn funds..

I am doing that as we speak (Getting finances in order)@Mark F. I

My intention would be to discuss REI, plan FI/RE and analyze deals together.

They see the path to FI, but their friends and family might not.

That one had a 2-year pre-payment penalty so we are in the process of doing a re-fi on that now around 5.25%.