And it will affect future sales in the same are, which will then indirectly affect your price when you sell later.You might try to find a bank that will do construction loans or lines of credit that will let you acquire and fix the property.

Found third bank to lend on construction financing and LOCJanuary was a slow month.

Thanks everyone.Carole yes there is limits.The problem is catching all the people there at once for a violation.If the code enforcement walks in and doesn't actually see all the people then there is nothing they can do.Had this happen in another county where there were a bunch of people occupying a house next to my property.The inspector only worked 9 to 5 Monday through Friday.Many of the people worked and were gone when the inspector could come by.Thus they could never do anything about the situation.This is why I think as a deterrent if we charged 50 bucks a head there would be no benefit for them bringing in all these people because the landlord would get the money.

My thought is that with an LOC I would have additional borrowing capacity to jump on cash deals if needed, as well as float some of my current renovation projects between construction loan draws.They offered me a $140k interest only LOC, 2 year term, 5.75% interest.

My boyfriend has done construction and estimates and we can get a good first impression before bothering an agent What we mostly need is someone to do the paperwork right and protect our money and time.BTW, we're not ready quite yet- almost though.

I have been in hospitality most of my career and have done some construction.

Nor have I inspected the property.Its in a college town & will rent for ~ 1100 with full occupancy.ARV shows at around 150000kWhat I would like to do is Remodel the first, get it rented out, then build two 3/2-3/2 duplexes on the other two lots using construction loans.

I know about assigning the option but what if I have a constructed a fair deal with both seller and tenant buyer where there is a good amount in difference between the two option prices, how do I avoid being cut out from the bank?

We're looking at houses and my boyfriend has experience in construction but not termite inspection per se.

Unfortunately I think you will find that section 8 cares more about their tenants than the landlords.I have gone the route before of section 8 violations and the case workers do nothing.You simply have to evict the section 8 tenants.Mine not in compliance went voluntarily.It was a case of one great tenant next door had a small child care facility of watching 4 to 5 kids.The section 8 next door that were inherited tenants I received upon inspection had a pit bull and a rottweiler.They were told that was a violation of their lease.We evicted and they said they had gotten rid of the animal only to find they were hiding it and was back again.The parents dropping off the kids were scared of the pit bull for the day care next door.This tenant also had a portion of utilities they were responsible for after the voucher paid.They went round and round not understanding why they paid the difference etc.I can tell you when you look at section 8 it is great as long as you pay attention to the voucher.If you want to rent for 800 and the voucher is for 500 then don't do it.They simply will not make up the difference.If it's only 50 bucks they have to come up with then they can usually pull it off.Section 8 inspectors are real picky on all the things they want fixed before you pass inspection.If a tenant wears down a property heavily each year and you have to put a ton of money in to pass inspection each time that is a consideration.Don't be quick to evict the other regular tenant.You have to treat them like a person with a mortgage falling on hard times.