All Forum Posts by: Encarnacion Gutierrez

@Ron Szmik

But let me clarify, with a hard money loan the purchase price and the loan are the same value, so here is the problem I am running into... if you try to refi, the bank who does the refi will only give you 70% of the home value. But they will consider the value to be your purchase price so you can’t borrow enough the pay off the full hard money loan.

@Ryan Deasy

Sure, I would love to talk to them about that. Can you please send me the info?

I have a killer deal I was going to wholesale but I decided to keep keep because of the discount. I need to close fast with hard money, but I want to convert the hard money loan to a convention loan ASAP. How can I do this in escrow? Will a delayed double escrow work here?

How can I avoid the 6 mo seasoning period?

I have a killer deal I was going to wholesale but I decided to keep keep because of the discount. I need to close fast with hard money, but I want to convert the hard money loan to a convention loan ASAP. How can I do this in escrow? Will a delayed double escrow work here?

How can I avoid the 6 month seasoning period?

I have a killer deal I was going to wholesale but I decided to keep keep because of the discount. I need to close fast with hard money, but I want to convert the hard money loan to a convention loan ASAP. How can I do this in escrow? Will a delayed double escrow work here?

How can I avoid the 6 mo seasoning period?

I have a killer deal I was going to wholesale but I decided to keep keep because of the discount. I need to close fast with hard money, but I want to convert the hard money loan to a convention loan ASAP. How can I do this in escrow? Will a delayed double escrow work here?

How can I avoid the 6 mo seasoning period?

@Shannon Wright

Do you work with wholesalers?

@Shannon Wright

I looked the 203, it doesn’t make sense as a flip. It requires a licensed contractor and inspections from the bank. I need an investment friendly strategy.

I am trying to buy a property that will not qualify for conventional financing due to the deferred maintenance/rehab status. If I buy it with hard money, how do I convert the hard money loan/pay it off with  conventional financing as quickly as possible? I've always heard it takes a min of 6 mo before another lender will refi.

@Noel Challenger

I did think about that, but I don’t do volume, I just have occasional abandoned properties I come across. It doesn’t make sense to pay for subscriptions that dont get used. Is here a way to get phone numbers or other info one person at a time? I am not eligible to get credit info myself. Any ideas?