You would sell to someone with temporarily tainted credit or possibly self employed, getting top dollar on your sales price, 10-20% down, charge 7-8% interest, and rid yourself of the PM, maintenance, and all other expenses of holding rental property.

HML's typically charge 3-5 points, plus fees and mid double digit interest.

But if it will cost a lot, be sure to factor that in to how much you want to charge for a month to month.

Also, Hawkeye does not charge any money upfront (except maybe a $49.00 fee, don't remember exactly) which was nice compared to other similar companies I looked at that wanted $1,000-$2,500.

This really is a complicated and possibly emotionally charged situation.

If I were to sock away 20% for expenses, that gives me a small NOI, and the equity would be sitting in the house which really doesn't get me anywhere.The Refi would bump up my mortgage and I'd need to hold on to about 5K for an emergency fund, but if I put about 10K into remodeling, I can potentially break-even by charging more in rent.

Kris Ned, after crunching the numbers, if you think you can get the maximum for these house, then fix them up and sell them, under market so you can attract more buyers faster.

What you want to know is what is the LTV or some use LTC, how many points do they charge, any other fees, and term of the loan, etc.

I have some money put away but wouldn't want to use it all on the purchase of the property.Also add this lender charges 10% interest and time frame is 6 yrs.

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