All Forum Posts by: Jessica McKinney

@Todd Faulk agreed! Especially finding a lender that specializes in one of these renovation loans, many wont touch them if they don't have enough experience with them.

@Courtney Downtain @Christopher Dunson here's a BP article on the topic for a little more info.

https://www.biggerpockets.com/renewsblog/2015/11/27/ultimate-guide-fnma-homestyle-renovation-mortgage/

@Courtney Downtain if you're interested in a 203k you might also look at the Fannie Mae Homestyle renovation loan, its similar but has some benefits over the 203k in that it has a little less red tape on the type of improvements you can make, and doesn't have an owner occupant requirement. On the flip side the 203k is easier to qualify for. I'll pm you a few lenders I know that do one or both of these loans. also here's an article highlighting the differences. 

http://themortgagereports.com/21895/fannie-mae-homestyle-vs-fha-203k-renovation-loan

Make sure to get a title report from a title co or a real estate attorney before bidding. Auction.com advises this as part of your due diligence.

Thanks! @Tommy Hopkins

If you don't find the hard money you're looking for and have to go the conventional route, you could look  into the Fannie May Homestyle renovation loan. Similar to the 203k in that it's purchase and renovation all in one, BUT it's not restricted to owner occupants!!!! can be used for second and investment properties. Just a thought!

BP article covering the topic:

https://www.biggerpockets.com/renewsblog/2015/11/27/ultimate-guide-fnma-homestyle-renovation-mortgage/

Facebook groups for houses for sell and rent in a particular area. 

@Doug McLeod real estate related and career related. I'm selling a rental, and transitioning into a career as an agent this year. Not rocket science, but for me probably time to enlist professional help. 

Hello,

I'm looking for recommendations for a good CPA in Houston. I'm on the northwest side so something in the general area would be great. I have a relatively simple tax situation compared to most of you out there. But I'm going to run into some things that are new to me this year, and in the coming year. So I think it's time to start paying for peace of mind and convenience. 

Thanks,

Jessica

@William E. I agree. Best way to start when starting from square one.