All Forum Posts by: Jason D.

@Grant Baker there could be some credit downsides. Because you are going to be utilizing a large percentage of a large line of credit, it could affect their ability to get credit if you are maxing out that line.

@Grant Baker of course! That's the ideal situation, no money put of your pocket

@Lisa Dreher if they are a lender (ie, you are paying them back, with interest) there is no limit to what they can lend, but they will pay taxes on the interest income. You would setup loan documents. I would have them prepared by a lawyer, so you stay on the up and up.

@Grant Baker yes. That's exactly the process. Buy with the equity loan, fix, refinance, pay off loan to use again.

@James S. If there's no lease, how much does it really matter what they're paying? You buy, write up new leases at whatever rate you feel, or you let them leave and get your own tenants in the property. Seems like a win-win to me

@Thaddeus Goodgame where are these comps? I dont see a single house sold in that area over $300k. There is one house listed now for $355k, and it would he a miracle to see at that price in that neighborhood.

@Thaddeus Goodgame how did you arrive at your rehab estimate and ARV?

Do you have an appraisal and bids from contractors?

@Fouad Anawis so I would like to apologize to you.... I decided to take my own advice and find your posts, and although this discussion went a little sideways, your other posts are quite professional.

My thinking is that you are looking for a very specific thing, and if I'm on the mobile app, it gets lost in the shuffle very quickly. So if you dont get a response within the first hour, it's likely that you wont get much.

I'm hoping you took advantage of the contact you did get on one of your posts. The door you're looking for rarely opens, so when it does, jump on the opportunity.

You're young, you have plenty of time to get it together. Patience is key.... Good luck!

@Fouad Anawis I have no idea about your previous posts. I see this post and based on that evidence, it doesnt sound like to you've figured out how to interact professionally, and that could be a big part of the problem.

@Fouad Anawis if this post is any indication, I have an idea....