Meaning that they will agree to do the early work with the understanding that if you go forward with the project, they will get paid if for the spec and forward work if and when there is capital (debt or equity) to pay for the spec and forward work.Even if you can’t get either of the parties to spec the work the time and cost to do the early work is short and comparatively modest.

I cant get approved for a loan (I’m self employed/ no consistent w2s).

My property management company took care of all of it for me after asking for approval, and it was one less thing for me to worry about.

I am pre approved for a construction loan and ready to get started immediately.

A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

We got a pre-approval for $355,000 and we are interested in doing a house hack or developing something on a small property ideally in the Montavilla area, or east of 205! 

With that being said we aren't really sure whether our excess should be put towards our debt or if we should use that to try to find our first property.Personally, I would love to put it towards our first property because this is something that we've been talking about for 3 years now and I'm at a point that I'm tired of talking about it and ready to make it happen (hence me dropping out of med school haha) but I'm not sure if that's that best decision and I am just seeking some guidance on managing debt while still getting started (and it hopefully not taking us another 1-2 years to finally buy our first property).One thing that we've discussed is house hacking while using an FHA loan.

Therefore, the lender underwriter team is hesitant to approve the loan. 

Hi all,Could someone please explain to me what pre-approval really is? 

I am in the process of getting approved for my first loan.