All Forum Posts by: Craig Jeppesen

I guess you could just do heads or tails with a coin and pray you are right? Let us all know how that works out for you.

If you rezone you would only be able to buy one most likely with conventional financing and would be time consuming and expensive. What is wrong with commercial? If the numbers work, they work. Don’t super over complicate it, you will only make it more difficult to work.

There is no right answer. It is a personal choice, more leverage more risk but higher return possibilities. Why don’t you meet in the middle and do 25-30% down.

Consult a real estate attorney on your loan docs especially the note language.

Use a partner, otherwise wait until you have saved up some capital. Capital is soooo important.

 Of course a mortgage does. I am talking about short term like a credit line or 5 year term loan. 

I would do your own construction loan. You should be able to for 5% down. Pay him in draws once a month.

Definitely no. Too small.

Most long term commercial loans have a balloon. If your loan is short term you won’t have a balloon.

You are going to need the home value to be $150 after your repairs to make work. If that is the case this is just a brrr property. Make sure you buy the house from your aunt first. You don’t want to have a loan with a private investor fix it up and her say never mind.