Whether you are looking flip the property or hold on to it, getting a 6 or 12 month fix and flip loan doesn't lock you in for that time.

If you hold for 2 years then sell, I feel very strongly that you will do well. 

I simply went to Wells Fargo (Wachovia at the time) and asked for a trust account so I could hold deposits.

Holding the property should pay down the loan and give us tax benefits. 

Waterford, Houston, TX - Sponsors: Community Investment Properties, Legacy Wealth Holdings, Djuric Family Office - the claim is this is the first of their deals to lose investor money.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Peterborough.

The issue is not the contract, the issue is going to be enforcing the contract, the individual who was selling this could hold this up for years and cost you tens of thousands in legal fees, and then they file bankruptcy and stall it another 5 years.

Run the calculations on the expense of doing a refi at a slightly reduced rate vs. keeping the current loan for whatever period of time you think you will hold this house.

If you’re in the market for long-term buy-and-hold new construction properties, they’re definitely worth considering.

Sorry, I didn’t answer the second question… again, discussions would need to be had but this would be a long term hold… 5, 10, 15, 20 years.