Fannie/Freddie (Conventional) loans aren't just about rate and transfer taxes. 

If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.

Quote from @Paola Astrid: Should I refi to dscr or conventional to remove pmi?

Quote from @Eyad Ahmed: Starting my Virual wholesaling plan from egypt is quite challenging but doable i'm targeting indiana market with an established LLC and the deal machine software and mojo dialer and a presence whether on social media, a website,etc  looking to connect with realtors as I'm looking to start novations as well alongside wholesaling any recommendations about my plan or tips and trick's on how to close my first deal, also if there is any buyers in, fort wayne, indiana polis,munchie drop your email to add you to our end-buyers list also any recommemdations of title company that deals with digital banking for example: mercury,wise,relay and is investor friendlyI am the owner of DealMachine and also have 19 properties in Indianapolis.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.- Additionally, you can track income and expenses consistently using software or spreadsheets.If you track everything, you could show a loss and use that to offset other earned income (such as a W2) which will net you a bigger refund.

Getting a loan to payoff another loan with a lower interest rate doesn't make any sense. we do private lending and can get double digits returns consistently.

We have a VA so she does all the tagging and I ask her to export it from Baselane, into excel, then I review it and give comments.Going Digital: Scanning and storing my receipts in real time saves me from searching for that one $17 plumbing supply receipt.

For appreciating CA properties this could easily be a 7 digit step up in value but i would think in all CA markets would be significant.