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23 September 2021 | 1 reply
We put 10% down and took out a conventional 30 year loan.How did you add value to the deal?
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29 September 2021 | 7 replies
Some numbers for the house:PP: $165K10% down + closing costs: $22K (Conventional mortgage for the remaining $148K)Rehab estimate: $30KARV: $220-$230KMortgage/Taxes/Interest: $1K Rent estimate (3BD/2BA): $2,100Some of our mistakes and obstacles along the way:Our handyman was truly terrible.
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23 September 2021 | 5 replies
You need to refinance your primary take out some cash and close it as a conventional loan.
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22 September 2021 | 2 replies
We were able to put it under contract before it was officially on the market though by coming forward with a conventional loan offer instead of an FHA offer.
23 September 2021 | 3 replies
conventional, It was a bit of a stretch cause I just closed on a duplex in airway heights and then this popped into my life How did you add value to the deal?
24 September 2021 | 4 replies
Save yourself the upfront mortgage insurance that's financed into the loan and go with a conventional 5% down product.Bottom line: Pay your taxes if you want to get a conventional or FHA loan.
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28 September 2021 | 25 replies
That would give you several years to continue to invest, save, get some cash flow from the property, before going to the bank for conventional financing.
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23 September 2021 | 22 replies
We won’t be staying here forever, and I wanted to have my VA loan available for when we do move, so thanks to the INSANE amount of appreciation in the Southwest Idaho market, we have well over 20% equity now and just refi’ed our house into a conventional 30-year mortgage with the same interest rate and I’m in the process of doing the one-time restoration to fully free up my VA loan to use again.
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3 October 2021 | 8 replies
You can buy an SFR with an FHA loan of 3.5% and a cosigner or a conventional loan with a cosigner and 5% down.
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23 September 2021 | 15 replies
In David Greene's BRRRR book, he suggested that it is better to wait and save up for a BRRRR as opposed to the speedier route and just doing a conventional loan on a SFH.Would you guys advise on saving up 100k on a BRRRR with a chance to repeat and get the reps of REI much more frequently, or use 50k on a SFH because it's less complicated and can be a good intro into REI?