Quote from @Chris Seveney: Over the past quarter, I have seen around $1B in defaulted fix and flip loans - many of these from new lenders since 2020 and more of a "tech platform".As we all know, the intersection of tech and real estate investing has brought incredible innovation, especially in hard money lending.

I assume you’ve got a loan that says you will be living there.

Quote from @Tiarnan Gormley: How will you qualify for loans?

That first deal after a break can feel like a big leap, but it sounds like a great opportunity.On financing, seller financing, private lenders, or portfolio loans from local banks could be worth exploring if you want alternatives to hard money.Excited to see how this deal goes for you.

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

Even 600k loan at 10% interest costs $165 a day.

I've managed to secure the loan for the new house without having to sell the old house first.

Thank you.I've personally bought and sold over 15 properties, was a Realtor in Texas for 5 years, and a loan originator for almost 10.

I'm not sure I can copy and paste my Excel spreadsheet, so i will approximate the numbers here.Strategy:Take a Home Equity Loan (second) on our primary @ 5%.Pay off existing HELOC (variable, at 7.5% now), use remainder ($120k) to buy the land (plus 30k of our own cash).

That is usually how they determine your LTV (Loan To Value).1.