Thinking about making the first purchase:roughly $90K sale pricePlan to purchases with 100% Home Equity Loan 7% interest only for 12 monthsInvest $20-30K in renovations (using 7% interest loan)Anticipated value $150KThen Refinance $90K with conventional mortgage before the 12 months are up.It will cash flow $300 /month based upon current market rentals.Question: Could I also consider selling property where I finance?  

Do you have any insights on loan/financing options? 

 Is a fix and flip loan the best option for this scenario?

I have 0 bills and I live at my parents house  NOT happening, be realistic You cant even get a loan, no job. 

I know this fluctuates, but just want to see what other people are getting loan wise for a loan on multifamily over 5 units?

Up until this point , we have been buying the land with our cash, constructing the homes with cash, renting them out, and using a DSCR loan to pull most of our money back out. 

It is easy tounderestimate the timeline.It is easy tounderestimate loan costs.

Please feel to reach out with your inquiries. 

The refinance itself, will be treated as a loan purely to be paid back by the LLC over time.It is best to speak to a CPA or Lawyer pertaining to this first and foremost to properly discuss the private details that should not be shared online. 

@Mike White you just call your loan officer and tell them that you are cancelling.