Wanted to check if that is true and if it is just lender specific or are there any legal laws around it.Thanks The rules are generally pretty vague - for the 10% Down Second Home Loan - generally are supposed to be not an investment property (no more than half the year rented out, no property management) and the vicinity rule is not super clear - but you are supposed to live "near the property"There won't be a difference among lenders since this is a GSE backed product (all rules the same) - however, the difference is likely to come from the interpretation of how close "near" meansThis is a good twitter (X) thread on the topic from a lawyer thats in the spacehttps://twitter.com/Wildlaw406/status/1689416363973214213

You could expect rates in the low to mid 7s for a One Time Close Construction Loan.

New investor here.Thinking about end to end pipeline management for finding, closing, rehab, rent, hold/sell deals.What tools are you using to keep your information organized, clean, reportable, etc?

On one hand, sellers may feel like they're losing out on their net proceeds after paying commissions and closing costs.

Close to the 1% rule and completed with W2 job relo help :) What made you interested in investing in this type of deal?

So you'd come with the 15% of the 163k which is $24,450 plus closing costs on an approx 200k loan (5k - 6k). 

When you say "I spent," "we closed on," "my team," and create graphics that say "closed" and have your company logo as the ONLY logo on the CLOSED announcement it is to give the impression that you wholly own those properties or were at a minimum the "sponsor."

Right now they charging me to pay off the yearly management fee for the rest of 2024 when my sales is close in April!!

Make a list and look closely at each one to see if they are an option.If you can't find someone within your network, expand your network.

Or, you could use the $40k for the 20% deposit on a $200,000 property (assuming away the closing costs).