All Forum Posts by: Jordan Hines

The wife and I are looking to make some more cash to put in to buy and holds. We’re looking at doing some fix and flips with a partner, but we’re trying to find the best way to do this.

Is it possible to get a conventional loan for ~5% down, do a HML or private lender for rehab, and sell as soon as the flip is done? Will banks frown upon that? Will it make things more difficult to get conventional financing down the road?

For context, we currently own one duplex as our primary residence with the original plan to buy duplexes and move in to them to keep down payments low with the desire to do that more in the future when we get more cash on hand.

Thanks in advance for any insight!

@James Hamling

Thanks for taking the time to respond and for the advice. I think I’ll send them an email and start there.

It’s definitely spelled out in the lease that smoking is prohibited. I inherited the lease when I purchased the property in December. I’m just wanting to avoid cleaning expenses. 

Purchased the duplex I live in (up/down)  and have smelled marijuana on several occasions when hanging out outside. I live in Minnesota where recreational use ins't permitted and I'm not sure if they have a prescription for medical use or not. They've had their windows open and I can't think of any other reasonable places it would be coming from (I live in an urban area) however, I don't know beyond a shadow of a doubt it's them. What would you recommend my course of action would be? They're moving out in the end of June and I'd rather not even attempt the eviction route in this climate (not even sure if you can still evict for illegal activities). I'm 25 and just starting out this whole RE investing thing and haven't had to deal with this kind of stuff before. Thanks in advance for any guidance.