Adrian Hollifield
Confusion on how HML dispense loans for rehab
Hi everyone,I’m looking to use a HML to fund the rehab and 70% of the purchase price of a SFH. My contractor has given me his bid and asked for 25% upfront payment to start work. Here is where my confusion is. Will th...
Maria N.
Looking to house hack in Colorado. Any advice on location?
Ideally, I'd like to house hack with a Triplex or 4-plex. I've been pre-approved for a max purchase price of $690,000 with an FHA loan but I think the max I'd be willing to purchase is $500,000. Any advice on where t...
Barshay Graves
Assuming a mortgage from underwater homeowner
I need some help. I got an offer to purchase someone's home for what they owe on the loan or in other words assume there loan. He say's he owes about $80k (it's a messy divorce situation and he is moving out of state ...
Henry Lazerow
Why 2-4's have not fallen with rate increases and why they won't!
Lately, many 2-4 unit clients understandably ask me why prices are still going up with rate increases. I have sold 40 million seen a lot of 2-4's in Chicago and the answer is simple, supply has more impact in this nic...
John Hamilton
Buying in an extremely hot market
I am looking for a property to get in on a house hack. I live in Colorado Springs and the market is insane here right now. Within a few hours of the listing being active it will have multiple offers and usually ends u...
Teron S.
Stuck and trying to get unstuck
Hello BP Nation,I have a weird question I'm hoping to get answered. So I am closing on my first property which is a fha owner finance triplex this august which is great to me but going on this pace with only a 3.5 dow...
Marvin Meng
First hard money loan
Hello all! I just finished my first serious rehab. It wound up being a lot more complicated, expensive and time-consuming than I expected but it's finally done. I've kept meticulous notes and all receipts. Had this be...
Ike Stephens
Get The Most Cash Out of Rehab? Mortgage/HELOC/Title Seasoning
I have a little bit of liquid cash and I'm trying to determine the best way to put it to work. Here's the picture:I recently purchased a duplex in Cleveland that I bought for $82,000 last year. I currently owe about +...
Daniel Barden
Is there anything i can do with this?
Here is the situation. The lady was forclosed on and had a lawsuit with fannie may, she lost the lawsuit and came to an agreement to purchase her home back for $166000. She needs a short term lender to come up with a ...
Daniel Fisher
Refi on Owner Financing
I purchased a house in October on seller financing.Since then I have rehabbed and rented out the house. Purchase price- $80,000Rehab cost - $20,000ARV - $140,000I am wanting to cash out refinance and pull out some of ...