All Forum Posts by: Jason Crowe

Investment Info:

Single-family residence buy & hold investment in Jacksonville.

Purchase price: $105,000
Cash invested: $15,000

Rehab Jacksonville FL
Upgraded Electrical System
Repolished Wood Flooring
Removed Carpet and added vinyl plank
Repiped home
Painted Exterior
Painted Interior
Fixed Sagging Floor in Bathroom
New Appliances

How does this work?  I have investors skeptical due to high earnest money amt, then no access at all until closing, ....  The requirements are abnormal as no visit to property and have an inspection but that inspection is ordered by who?  Sundae, it seems bias and investors dont feel comfortable with all of these terms.  There may be some negotiability but the agent representing in jacksonville has information indicating the rules are the rules and not much if any negotiable leeway to see property etc.

Who has used this vendor before?  No access to property till after purchase?  Then minimum of 5k earnest money deposit?  

Have you had success with just looking over inspection report to get the bulk of the rehab numbers?  Bad or Good Experiences?  Interesting process and not many can follow even hard money that requires an appraisal, sundae indicating no access at all till close.

Jax has pockets within the not so great zip codes.  09, 08, 54 etc.  

Is second home seen as sort of a primary loan in a sense pertaining to insurance?  Or is the insurance on a second home more as if buying an investment property?  For a second home, is there restrictions on renting?

Happy to hear!  If I can be of any help let me know.  I’ve been in this area for quite sometime and always willing to meet new like minded people.  Appraiser, RE agent, investor

Lenders that will loan on values of this amount to allow cash out refis or equity lines of credit.  Is there a barrier to doing this much of a loan for investment rental properties?  

Florida options?  Different in other states?

When getting an equity line of credit for investment rentals whats been the longest amortization provided to and investor?  Normal amortization?  Best rates?  Worth doing it versus a cash out refinance?  Whats the biggest advantage / positives/ negativies of an investor considering using this vehicle to purchase future rentals?

Who has used someone in florida for equity line of credit on rental properties?  Suggestions?  Longest Terms for these types of products?  Interested