Real Estate Flips In Texas

Comments(12)

• 
  sanjosee12th March, 2005

  no, its not illegal . But it is difficult because of traditional lenders regulations for seasoning.

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  sanjosee12th March, 2005

  no, its not illegal . But it is difficult because of traditional lenders regulations for seasoning.

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  sanjosee1st April, 2005

  yep, traditional lenders will be a bear to work with & kill a lot of deals. You can use private money, or have buyer take it subject to your loan, or carry the financing then immediately sell the note. Many possibilites just lots of hoops to jump thru.

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  dlukas1st April, 2005

  It seems like selling the property on an owner financed note and then selling the note at closing would be a viable option as long as the note buyer had no seasoning requirements....

• 
  sanjosee3rd April, 2005

  You will get a better price for the note the longer it is seasoned. However, there also will be note-buyers interested in the note if the LTV is strong.

• 
  Eric523rd March, 2005

  Try to find out the BPO or take a best guess and then offer 82%. Otherwise figure the value minus repairs multiplied by .7

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  genetx25th March, 2005

  Is that ARV minus repairs X .7??

• 
  Eric52nd April, 2005

  yep

• 
  Eric52nd April, 2005

  yep

• 
  genetx2nd April, 2005

  Eric5:
  I assume your .7 contemplates a conv. loan. Is that correct? If so, is the reciprocal .3 linked directly to PMI?
  ie. the PMI may cover 30% of the loss?
  Thanks
  Gene Texas

• 
  bigred693rd April, 2005

  Thanks-
  If a loan carries PMI, how should that affect my offer?

• 
  bargain763rd April, 2005

  I believe the .7 factor has nothing to do with type of financing ,or PMI.
  
  The .7 (or.65 in my case) is simply used in the formula to assure there is profit left over after the purchase and rehab.
  
  
  [addsig]