This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes.

Sharing some info from two sources this weekRegarding states looking to strengthen seller financing licensing requirements and court decisions for those not licensed:First from Facebook group school of sharks:Hey guys,TX Dept of Savings and Mortgage Lending has some new rules that are expected to go into effect January 01st, 2025.

Ill call around but it sounds like this is just another lessoned learned through the process and the cost is going to be in that ballpark anyways. 

This can mean additional costs for repairs and maintenance to meet these standards.Administrative Burden -> There can be significant paperwork and administrative work involved in maintaining compliance with Section 8 requirements.Please reach out to me directly if you want to go deeper into the subject, especially on the financing/loan side of things!

Look for properties priced at least 20-30% below market value to account for renovation costs and profit margin.

Btw, there were no new rules going into effect on June 1st like the section 8 tenant said.Next stop was to collect.

if it’s an investment property and it’s the right property with about 20% down, you could get a lender to finance the 80% and the construction costs.  

There is a prohibition against posting the landlord's names if they are found to be in violation of the ordinance.The ordinance includes a $1 million mitigation fund for landlords to offset the costs associated with accepting vouchers.

You can also try and incorporate a seller concession of up to 3% (with 3.5% down) which can help cover closing costs and reduce the cash needed to close.

So FHA has two sections:FHA section 203(b) is intended for properties that are move-in ready.However, FHA section 203(K) enables homebuyers to finance the purchase of a home and the cost of its rehabilitation.