Updated about 3 years ago on . Most recent reply
About getting qualified for an investment property
At what point do I need to get qualified for PM or HM loans. I plan to flip but what happens if that doesn't work out for some reason and I need to go with a conventional loan. Does qualifying for PM or HM usually also qualify you for a conventional mortgage. In this case, I will have to my own money and credit to keep the property to buy and hold it, not OPM. Also, how much actual money is needed out of pocket for draws, etc. to have on hand during the whole reno process. Also, are there tips somewhere on finding and managing contractors? Thanks for any comments on a clearer perspective on this.