Unlike traditional bank loans, private lenders offer quicker approval, fewer requirements, and the ability to customize loan terms to fit the project.

If you plan on buying these properties using a mortgage its also best to begin the pre approval process and work with an investor friendly lender to help guide and educate you what the best product might be for your projects to make sure you dont already max out your borrowing power after the first deal.

Rents in the area need to be strong or a lender won't even approve you!

I will also specify that any additional work must be approved in writing.

Have you gotten pre-approved with a lender? 

The renovations were already factored into the LTV during the initial loan approval, and the increased value of the property due to those renovations may not automatically allow for an earlier PMI removal under Fannie Mae's standard policy.Workaround/Next Steps:Reappraisal: You might be able to request a reappraisal if the lender is open to it.

Pre-approval for a mortgage and self-managing your first property can help you build momentum.Good luck!

Yes, it's possible, but you'd probably need to get approved in the next 30 days as I'd estimate a 60 day close (at least) for an investment property in the name of an LLC.

Purchase price: $176,000 Have a signed PA and conditionally approved loan for single family residence in Fulton Market neighborhood!

However, the approval process can be pretty tough, especially if you're working on a larger project or have a shorter timeline.Private Lenders: These options are typically much faster and more flexible, which is key when scaling development projects.