An appraisal would have costed $400 and if you need a name ask a lender.

The builder will need to be approved by the Bank/Lender or the bank/lender can provide you an already approved builder they have used before in that County.Once the builder is approved the Bank/Lender will have a initial meeting and set up an agreed upon draw phase based on the work that will be completed in phases.Best thing to do is have a conversation with a seasoned Banker or Loan officer to start an application and set up step by step plan.Feel free to reach out if you have any questions I am always happy to help and talk REI.

Wouldn't all the cashflow go towards paying back my private capital lender?

Unless lender specifically agrees to a subject to transaction, the loan by way of the deed transfer is in default, and as such the lender can accelerate the note demanding full payment at any time.4.

Interested in learning from any area of expertise…agent/broker, tax expert, lender.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Re-sells are having a hard time competing bc Hortons Lender is offering much lower interest rates plus $$$ toward upgrades/buydowns/closing costs.Anyways just thought I'd share what is going on in my market!

cash Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Just want to be careful on which broker/lender you use because some of them have a prepayment requirement and try to stick you with a 3-5 year prepay.There is also a 40 year I/O interest only but its only fixed for the first (10) years.Make sure you know how many months reserves they require before you get to deep into paying for the appraisal and then find out the deal is cancelled in underwriting.

Additionally, I collaborate with various lenders to facilitate transactions.