The upside:  I was able to set up a loan through which I did construction draws to fix up the first property and finance the repairs. 

The major draw there is the college.

Yes they’ll probably want to close in an LLC which I will get my attorney to draw up an agreement with the partner or partners on the deal.

Hi, can anyone recommend a good architect in Worcester MA, for converting 3 units to 4, and for getting permit to knock down a few walls.Also, looing for someone reasonable to draw a floor plan.Thanks!

Paying down my heloc gives me a bit more piece of mind even though I'll draw from it again significantly in 2021.

This will allow the architect to understand a little about the building and what extent of drawing they might have to do.

Everybody is correct in saying the interest rate for the HELOC will be higher than the refinance, but the great thing bout a HELOC is you are only charged interest on the amount you draw out.

After holding costs, closing costs, appraisals, rehab draws and other misc fees, that is extremely tight!

Include video walk-through and drawings in your ad.

Additional costs on 203k's include but not limited to:extra origination fee (part of closing costs)203k consultant WWU/SOR/Inspection fee (paid at time of service)Inspection/Draw fees (added to loan amount)Title update fees (added to loan amount)contingency reserve based on rehab costs (added to loan amount)etc.