Investor · Charlotte, NC · Member since 2018 · 77 posts · 41 votes
I'm looking to pursue a flip using a HML, however the property has a tenant that is in a lease until the end of July. I understand that this may be an issue for some HM lenders so I'm wondering what are my best options? Thanks BP!
I'm looking to pursue a flip using a HML, however the property has a tenant that is in a lease until the end of July. I understand that this may be an issue for some HM lenders so I'm wondering what are my best options? Thanks BP!
Have you considered using Fannies Renovation loan instead of hard money?
@Shaun Weekes I have not! What are some highlight advantages it could offer me for my scenario?
It would save you a lot of money and the process is streamlined. If you can qualify for this and you have no renovation experience this could be great for you.
@Shaun Weekes I've been doing some research on the Homestyle loan, assuming that's what you're referring to. Looks like an awesome option that is not very well known about. Thank you so much for bringing it to my attention, I will absolutely being adding it to my arsenal!