All Forum Posts by: Tarik Turner

Yes a down payment would still be required by most lenders. Your loan will also be based on the lesser of the two numbers between purchase price and the appraised value. In your case the loan amount will be based on $400k

There are some 30 year fixed loan products for investment properties out there, I would spend some time looking at different lender.

Not all lenders require funds to be seasoned just shop around in the non QM lender market

If it is a 30 year fixed rate the typical prepayment penalty period is usually around the first 5-7 years

Is the SFR owner occupied or an investment property?

Education is they.. (Not talking traditional education) but learn as much as possible and keep investing in your education. It saves you money down the road. Invest your time and money into something and stick with it .. my 20 year old self jumped around so much I never gave anything much time to catch fire... Just stick with it

How long will your rehab process take? Seasoning period may come into play depending on when you are trying to refi

Nice to see a Bronx representative. I was born and raised in that borough

Congrats on your first deal.. the fun is just getting started!!!

Welcome and best of luck to you on your journey. There is a bunch of free information on the web and on this site in particular. I would start there. Take a deep dive into the podcasts and maybe some free seminars