Real Estate Coach · Highland, IN · Member since 2009 · 151 posts · 77 votes
Here we go again....
Now the same folks who pushed that owning a home is a right for everyone in the 90's ( we know how that turned out) is now asking fannie and freddie to loosen up the rules...
It may be a good solution if it opnes up the doors to allow property to be sold quicker..
However,I get a bit leary when someone asks that the rules be loosened up....
Investor · Mableton, GA · Member since 2009 · 1k+ posts · 465 votes
17y
Well, I guess you need to move the inventory. What they really should do is to relax the rule so investors can buy those buildings and turn them into rental apartments.... :wink:
Specialist · Riverside, CA · Member since 2008 · 382 posts · 72 votes
17y
Just heard about this. We have a freakin mess with these condos out here. Cash investors are looking at them now because they will be able to flip them very fast for large profits.
Hard Money Lender · Las Vegas, NV · Member since 2009 · 28 posts · 0 votes
17y
The private money I have been loaning out on Condo's is frequent these days. No institutional lender will touch them with the Non owner occ. rate. I don't know how other states are, but Nevada (primarily Vegas,)is taboo. Most of our Borrowers luckly have some cash stashed to buy these at such a deep discount.
Cash purchases in Myrtle Beach and Charleston if you want to buy condos. It's awful to have such strict guidelines for new condo developments. Very unfair....but that's the business. The faucet turns off and on very quickly.
Cash purchases in Myrtle Beach and Charleston if you want to buy condos. It's awful to have such strict guidelines for new condo developments. Very unfair....but that's the business. The faucet turns off and on very quickly.