All Forum Posts by: Christina Tracy
Christina Tracy has started 1 posts and replied 4 times.
Post: Creative Funding- Ohio
- Posts 4
- Votes 0
Quote from @Tarik Turner:
We are open to all options. I assume if I went the hard money route or bridge loan we could still need 20%-30% down. Open to recommendations and thoughts.
Post: Creative Funding- Ohio
- Posts 4
- Votes 0
Quote from @Erik Estrada:
Quote from @Christina Tracy:
Hi fellow investors,
Looking for some creative ideas here. We have an opportunity for an amazing deal. However, our capital and DTI are tied up in other properties and we don't have the funds/DTI available for a traditional 30 year mortgage for 18-24 months.
We know we can get the property around $475,000 and expect the repair costs to be $200K-$250K. The ARV on the property comps $1m-$1.1m. We plan to rehab and buy and hold.
Any PML interested? Any hard money lender recommendations that are tried and true? Any other creative ideas?
Hey Christina,
Do you have any equity in your other properties sufficient enough to cover a 25-30% down payment?
We did a cash out refi on one to put down on another property. The one we just closed on does have a decent amount of equity but likely not enough to get us to the 25-30% point.
Post: Creative Funding- Ohio
- Posts 4
- Votes 0
Post: Creative Funding- Ohio
- Posts 4
- Votes 0
Hi fellow investors,
Looking for some creative ideas here. We have an opportunity for an amazing deal. However, our capital and DTI are tied up in other properties and we don't have the funds/DTI available for a traditional 30 year mortgage for 18-24 months.
We know we can get the property around $475,000 and expect the repair costs to be $200K-$250K. The ARV on the property comps $1m-$1.1m. We plan to rehab and buy and hold.
Any PML interested? Any hard money lender recommendations that are tried and true? Any other creative ideas?