I am a newbie to this and I don't have much upfront cash, does anyone know where I can get a low interest or interest only loan for purchase and rehab costs?
click on the lender tab at the top of the page and see if someone there can help.
also just keep reading everything you can find on this site and others. also look for books on amazon and in book stores on REI there are a ton of ways to finance deals.
Bye the way...what is your take on private Hard Money lenders...I already have a first and second mortgage and was looking into trying this method...please let me know your thoughts
I just sold my first house and it seems mortgage companies are making it hard to flip properties if its been under a year since you bought it.
They want proof that you really put the money into the house to make it worth so much more only months later.
Hello. I just wanted to let you know about this mentoring program a real estate investor informed me about. You don't need any money to start and it's a mentoring program where the profits are split 50/50. So far there is about 260 associates. IF you would like more information, send me an email and I will give you more details, and a website you can check out. My e-mail address is: **Please See My Profile**
Good Luck, and welcome aboard
The majority of lenders out there have a "seasoning requirement" which basically means that one cannot refinance for one full year. However, there are some that you can refinance the next day, if need be. Do your homework, talk to a broker who is affiliated with many lenders, they should be able to help you.
Quote:
On 2004-02-29 07:35, madtownbroker wrote:
The majority of lenders out there have a "seasoning requirement" which basically means that one cannot refinance for one full year. However, there are some that you can refinance the next day, if need be. Do your homework, talk to a broker who is affiliated with many lenders, they should be able to help you.
Another person that is helpful in this process is a good appraiser. I have found that a flip is a lot easier with 6 comps instead of the usual 3 comps. Also take interior pictures before and after. There is no better proof than pictures.
click on the lender tab at the top of the page and see if someone there can help.
also just keep reading everything you can find on this site and others. also look for books on amazon and in book stores on REI there are a ton of ways to finance deals.
Thank you for your suggestions megabucks!!! I browsed through the Lending area before, but never contacted anyone. I will give it a shot.
Bye the way...what is your take on private Hard Money lenders...I already have a first and second mortgage and was looking into trying this method...please let me know your thoughts
I just sold my first house and it seems mortgage companies are making it hard to flip properties if its been under a year since you bought it.
They want proof that you really put the money into the house to make it worth so much more only months later.
Hello. I just wanted to let you know about this mentoring program a real estate investor informed me about. You don't need any money to start and it's a mentoring program where the profits are split 50/50. So far there is about 260 associates. IF you would like more information, send me an email and I will give you more details, and a website you can check out. My e-mail address is: **Please See My Profile**
Good Luck, and welcome aboard
The majority of lenders out there have a "seasoning requirement" which basically means that one cannot refinance for one full year. However, there are some that you can refinance the next day, if need be. Do your homework, talk to a broker who is affiliated with many lenders, they should be able to help you.
Quote:
On 2004-02-29 07:35, madtownbroker wrote:
The majority of lenders out there have a "seasoning requirement" which basically means that one cannot refinance for one full year. However, there are some that you can refinance the next day, if need be. Do your homework, talk to a broker who is affiliated with many lenders, they should be able to help you.
Another person that is helpful in this process is a good appraiser. I have found that a flip is a lot easier with 6 comps instead of the usual 3 comps. Also take interior pictures before and after. There is no better proof than pictures.
Lori
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