All Forum Posts by: Dan Gamache

as with anything due your own due diligence, references, ect.

I have met Moe at HomeVestor "we buy ugly houses" conventions. He is a long time HomeVestor franchisee and is very well respected. 

Talk to local bank or credit union for refinance, if they can't help you, sell.

What was the bill for? What state are properties located?

Lima One is not shut down. Long Term rental loans have been put on hold for the time being. Fix n Flip loans are still available with much higher downpayment and LTV requirements. You will be looking at 35-40% downpayment & loan amount not to exceed 50% of ARV. MultiFamily loans (5+ units) between $250k-$2.5 mIllion will be looked at on case by case basis. Be safe & good luck out there.

@Jered DaCosta I’ll send you PM.

@Jered DaCosta what is purchase price? Also, does property need rehab or is it stabilized?

@Michael Roblee I agree with Nick that it depends on lender. In the private/commercial lending world you can use 100% of the rental income if rented and 90% of market rent (per appraisal) if vacant. If you're getting a loan based on cash flow and it's tight, you want it rented. If market rent has it cash-flowing well you can refi vacant.

@Joe Ansley what type of property/deal? fix n flip, buy & hold, MultiFamily (5+) makes a difference if non-recourse available.

@Brent T Galbreath are you looking for rental ready property to hold, BRRRR's, or Fix n Flip?