All Forum Posts by: Bab Adetiba

Sounds like a good deal with the back end financing. I  want to know the numbers to determine if it is a real win. However I am really interested in which bank offers this program?

Her specific situation sounds like a NO but many of us younger folks have bad scores due to student loans ONLY. Ultimately, a score doesn't define a person.

you should dive in and start yesterday. Don't worry about the bubble, though I agree with the timeline 2018-2019. If you are concerned, diversify or die.

Exactly what Glenn did but without the HELOC. Today I learned a lot through my lender regarding convention Reno and 203k loans and exactly which to use for SFH vs MFH in my market.

After re reading the original post, I understand it totally. So you got the HELOC and bounced from there. Lease option is great option too for that market.

Wow BP is the truly the greatest. 

@Glenn D. with your explanation, no more roadblock. But I don't understand how or why you got a HELOC after you found tenants.

I understood HELOC to be with one's equity in their primary residence or other properties. That is really neat.

I don't understand the latter part. To clarify...you found tenants to rent, then you got a HELOC and did WHAT with that LOC? Got another property?

@Andrew Herrig thanks a ton for that clarification. I partnered with an agent for those comps.

@Glenn D. I love hearing creative financing stories. I don't have the HELOC option available to me but definitely great tips. I recently learned about the Lowe's or Home Depot credit option. Great idea.

I will be finding other ways and find out what is the limit on 203k loans for MFH. Particularly, the required condition or purchase price of a property to qualify for one.

Thanks again!

I found my answer. Go find a HML!