Currently under contract for a large off-market residential property.Quick details: 4,200+ sqft 12bed / 5bath (2 kitchens) (No a flood zone)(Light - Medium rehab / rent-by-the-room play)My partner has been a PM in this community for 20+ years and is highly confident in this deal (as am I).The current issue is, we aren't confident the property can close with a bank due to a few seller complications.( ^Very long story, but if you want to hear it I will tell you haha)We're looking to over-raise about $335k ($255k purchase and $80k for the rehab).But we (and our contractors) know the rehab portion will come in a bit lower.Can anyone point me in the right direction?

I have clients who are more sophisticated and have some value of lot splits, surveys, etc but even when they bought it and split it off they don't really give much value to that. you have to put the power in you hands and negotiate with lenders.

I remember the topic being wholesaling/finding distressed off market properties.

I took out a mortgage through the builders lending company DHI Mortgage but have since paid it off in full with the proceeds from the sale of my home in Maryland last year.How did you add value to the deal?

#1031exchange hashtag#taxes #capitalgains #planningI worked with investors that held off selling their property simply because the market did not makes sense and they could not find replacement property that fit their criteria.

It also stays off of your personal credit/DTI which will help you as you live your life outside of these properties.Those will be a specific set of lenders that you will want to look into as many of them have different requirements that you would have to adhere to, but overall much more of a simpler process than your conventional lenders, while being a couple of points higher in processing. 

I typically look for properties to flip but I am talking to an off market seller that seems like a good buy and hold opportunity but I have no idea how to run the numbers for rentals. 

I’ll have this place more than 50% paid off and will see how the rental market fairs before adding leverage.  

The earlier you start in your RE journey, the better off you will be in the future.

The management is fully remote and the U-Haul is only a drop off and pickup that is managed by U-Haul.