Or do they have to get their own funding?

I'm a gearhead, and I've always came out ahead on my hotrodding projects by buying and selling stuff to fund the hobby.

I don't particularly support the mission of the company, being opposed to government funding of the type we solicit, so that makes work here less fun than it may have been otherwise.

You can just forget doing an assignment at all, unless your buyer is using Hard Money or Cashola.If you are doing a double closing, FHA will not work at all, as they require at least 90 if not 180 days title seasoning depending on a few factors. if you are trying to pull off a double closing, the best bet is to get a cool title company, a transactional funding lender, and a Fannie Mae qualified buyer.

We presented our estimates for repair, showed proof of funds from our bank and a complete list of all the renovations we planned.

This is a red flag to me and tells me that one: they lack funds, and 2: if a financial problem occurs, they do not have the means to pay me my rent.This is simple a good policy and helps/not eliminates the problem of a poor tenant.

I am looking for 100% funding, with the buyer paying about 2-3 points or so in cash, plus the buyer’s side standard closing costs.I would prefer to allow it to be owner occupied, since the buyer will refinance with an owner occupied, no cash out refinance.

You might balk at the thought of this, but if you are really serious, you should consider corporate assistance.Companies from Patagonia, to Monsanto and everywhere in between may fund such a project to help with their image.

But that still doesn’t make it the best use of their funds and I’ll be darned if I do the same with mine.

With that said we are BK preparers and have no issue setting up a relationship that may be mutually beneficial.