You have an excellent jump start- the VA loan is such an amazing tool to get the ball rolling.

Try to get preapproved from a local loan broker or Co-op. 

Based on the numbers seems like it was a straight forward conventional loan...any challenges?

I was told the reserves are a requirement of the REIT loan that we have.

You can purchase this with a low-money-down FHA loan. 

We also have many unique buyer incentives where an investor can get up to a 10% price reduction to come into immediate equity, or get that 10% as a cash back at closing to reduce your down payment and increase your ROI, or buy rates down into the low 4s on 30yr loans to maximize cash flow.

If you are looking for a more laid back and roundtable type discussion of all things real estate, you are more than welcome to join us every Tuesday morning on Zoom or Thursday morning at Kairos Coffee where we discuss everything from assumable loans, to creative buying strategies, to landlord tenant laws and pretty much everything in between! 

Is there a pre existing loan with that bank with either of you?

For those who’ve used it, what strategies or sources have worked best for you when covering the difference between your loan and the total project cost?

Hard money loan that covered 100% of rehab and 90% of purchase.