Mariah Pierce
Renovation Contract Obligations
When renovating with a 203K loan, are contractors obligated to get the allotted amount for line items? We had a line item that was completed for a third of the amount estimated but he is saying he should get all that ...
Matthew Thompson
Commercial financing for MFR 10+ units (no experience)
I am interesting in buying an apartment complex for around $800K with the view to add value and raise overall worth to around $1M. I have 20% cash to put down. However, I have no experience in this field other than po...
Mardica Henderson
Trying to get a loan before 8 months of 'seasoning'
Greetings. Does anyone have a lender who will allow me to get a loan on a house I paid cash for. I've invested several thousand fixing it up. Now I'd like to pull cash out and move onto another project. I'm running in...
Matt Smith
Expense allowed for 1031
I am planning to see property A to buy property B using 1031 exchange.In order to get top dollars for property A, I need to do some home improvements (paint, carpet, etc.)Is it possible get money from the 1031 exchang...
Geoffrey Robinson
refi for commercial property
Hello! I just bought a commercial property at 2.1m with hard money. The appraisal came back at 2.7m. With rent increases, we will drive the value up to 3.0m within 60 days. I would like to refi ASAP but can't find a l...
Kevin Barnett
HELOC denied for improper use of funds
I had applied for a HELOC with WF. My intent was to keep this money available for rehabbing projects (paying hard money lenders points, reserve funds for overages, etc.) Everything was going great and I was approved f...
Otto Kinn
How I Hacked My Main Street
Let me first entice you with my story. (If you don't care, just read THE PACED LOAN PROGRAM and HERE ARE THE NUMBERS)WHAT MAKES ME SPECIALNothing!! I have no college degree, and when I was first living on my own, I sa...
Steve Davis
203k loan occupancy questions in MD
I am researching using a standard 203k loan in MD for my primary residence. Can I live in the house during the rehab? Provided utilities, roof, bathrooms, kitchen, etc are operable? What are the rules concerning occu...
Michael B.
BRRRR ? Refinance questions
Questions about refinancing.I moved into a property at the end of may this year. The house was purchased for 130k, it appraised at 135k. I got a conventional loan with 5% down, 30yr and took a 4.25% vs a 3.75% to re...
Isaac Black
Pocketing money after refinancing?
Something I do not fully understand is people saying they buy a house for 100k, fix it up for 40k, refinance with appraisal where house is work 160k, and then they claim they pocket 20k? This concept does not very wel...