HUD is the probably the most well-known agency multifamily product and it does have its uses as it offers the longest term, highest LTVs, and has no equal when it comes to multifamily construction or signifciant rehab.However, Fannie Mae and Freddie Mac also offer multifamily financing and both offer terms comparable to HUD, but with less cost, more loan options, yet still be able to obtain non-recourse financing.

Hey, JJ, didn't realize that you were using a conventional Fannie loan under the new cash out rule:https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2011/sel1105.pdfI see that the loan amount you can obtain (without seasoning) is the lesser of:1. 70% of appraised value2.

JackelineIf in the above example, the seller agreed to 150k how might we best go about satisfying the sellers desire to obtain some amount of cash initially and my need to obtain funds for repairs?

As far as permits, it's obviously not practical to pull permits on cosmetic upgrades including installing new air registers, plumbing fixtures, light switches/fixtures, etc, but any major MEP upgrades, additions or structural upgrades permits should be pulled, and I think obtaining permits can be a good selling point to lend your renovation credibility.

So using your 100K example, you know that is the max value you can obtain and by looking at those comps you know what the level of finishes in that property is that justify that value.

I emailed my HR person to obtain a Terms of Withdrawal to review if my next employer will allow for loans.

Brin has it wrong if he thinks lower overall prices are going to help those with no money and no way to obtain it with a market competitive job.

I had one investor that was in the heavy equipment business, I'd take equipment as collateral to take care of down payments, rehab or operational expenses, he was using non-liquid assets to obtain financing.Economic assets will be getting more creative, these boil down to the basic principles of economics, land, labor, capital and entrepreneurship.

In event purchaser fails or refuses to comply with terms of sale within 20 days from close of bidding, deposit shall be forfeited and applied first to costs and then to Plaintiff's debt , and the Master shall forthwith re-advertise and resell said property upon the same terms on some subsequent sales day at the risk of former purchaser until obtaining full compliance with sale.

Mine will not consider any financials from non conforming units, and will give you a difficult road to obtaining financing.