Hello I could help you with a fix’n flip loan.To apply is easy, you just need to have a minimum credit score of 620 if higher better, you need to have at least 25% to buy, you need to have a company and if you don’t have experience for your first deal you would need to do the renovations with a general contractor.Our terms are 80% LTC or 70% ARV, the rates are 10.75%, no prepayment penalty, 12 months, our origination is 1.5% + underwriting fee of $1500 and legal fee of $1250 plus appraisal and title fees.Please let me know if you need terms for an specific deal, I’m happy to help!

Paul’s reply from four days ago didn’t show up originally (glitch?)

There was a miscommunication between the civil engineer, builder and city, and originally they were going to let me build the house before partitioning the lot but now they're making me do it now.

Based on a rough analysis for a project timeline, I believe the total project can be completed in 5-7 months with the team I have available if we get involved in completing the work on the project.Deal Analysis as a whole - Actual Costs may be slightly different but estimates should be fairly closePost Construction Estimated Market Value - Lot 1: $379,000  Lot 2: $307,000  Total Estimated Market Value $686,000+- $102,000 - Cost to payoff HML & Previous Builder- $154,800 - Estimated Cost to complete House #1- $170,370 - Estimated Cost to complete House #2: Includes New Well/Septic $7500, Impact Fees $2100, Permits $1000= $427,170 - Estimated Cost to Payoff HML, Complete Construction on House #1, and Construct House #2+ $686,000 - Total Future Market Value-  $20,580 - 3% Buyer Agent commissions as the current owner(Listing Agent) will be listing these properties without compensation-  $2,538 - Real Estate Transfer Taxes-  $1,500 - Settlement Costs Paid at Closing______________________________________________   $234,212-  $27,900 - Payment to Seller for Down Payment made by seller to HML @ Origination (For her to break even)= $206,312 - Potential Return before any Interest/Fees/Taxes/EtcI've spoken to a few HM Lenders and ran rough numbers by them. 

The contract alsorequires us to return the property in its original condition in case of default.

“They” say never sell… The answer to this question is do you have a better place you can invest this money that will yield you a better return than this asset?

The correct answer is - to protect BOTH parties.So, how is a well written property management contract any different?

Does the property automatically go back to the original owner that is providing the financing?

I'm Sunny, your globetrotting aficionado originally hailing from Taiwan.

I'd be happy to help answer any questions you may have or help you find the right cash-flowing property.