Originally posted by @Aleczae Johnson:I’m new to the hard money lenders topic my friend was telling me about it.

I would talk to the original lender before you make any principal payments.

Purchase price: $220,000 Cash invested: $51,000 I originally purchased this house as my primary residence during the pandemic with the goal of renovating it while keeping the charm of the original features.

From a valuation standpoint, the calculated cap rates in your original post and some of the other posts here (the 5.3 and the 6.6) are irrelevant and essentially useless.In your initial post, you mentioned the average cap rate in the area the property is located is 6.4.

Check flood zones, potential environmental hazards, and neighborhood associations with architectural guidelines or fees.

I had recently owned a house for 19yrs but had racked up a ton of debt in attorney fees.

Originally posted by @Alan DeRossett:it's much easier to rent properties that are well kept instead of a vacant lot.

To help in your search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

Does the land contract sale also require an RMLO to "originate" the financing?

I would like to connect with lenders that help wholesaler with double closing fees.