All Forum Posts by: Mark J Gugliuzza

Any thoughts or worries on the new Fannie Mae restrictions for investment and second home properties ? Seems drastic... cutting it in half!

https://www.google.com/amp/s/www.housingwire.com/articles/fannie-mae-tightens-standards-on-investment-properties/amp/

@Nick R. I am Looking for a JV on a brick quad in Savannah ga; 800kish all in, 7200 per month; Great location and all new; short or long term Investment available. Give a call if you want to discuss details. 912.604.0203

Thanks

@Nghi Le Thank you ! I was thinking that the owner financing terms are better terms then the HML so try and use that for the larger amount. But what you said makes sense. I do have a HML who likes the property and is flexible. I am hoping to cash flow 300-400 per door, it’s a large price point for me though. I do have 50k in reserves. Nervous )

@Anthony Dooley @Anthony Dooley I do appreciate it ! Maybe this helps- 550K price, 200K Reno (750K) ARV 1m total monthly expenses 5200 total monthly income 6800 when completed low maIntaInce, hIgh desIreable locatIon (next to my current duplex) my goal would be to pay it off in 15-20 years, this and my duplex would gIve me a 6 fIgure Income In 15-20 years.... THANKS AGAIN

@Ian Kee Ya it’s about half way completed. Owner purchased as foreclosure. I have a lot of experience in RE ( realtor for 10 years, hand full of flips, one duplex, and plenty of contacts and market knowledge ) but I am new to this type of deal for sure unfortunately. Thank you I guess I will reevaluate.

@Anthony Dooley That’s not what I am looking ! Yes, I agree , I need money) I can cash flow the property 1000-1500 per month if I can get the terms I am hoping for... (5200 in expenses/debt, 6800 income )

@Ian Kee Hold long term. Yes owner financing is great but the property needs about 200k in renovation. What kind of terms can I expect from the hard money lender ? Thank u for ur help !

Does anyone see any issues or have advise with seller financing on a quad and a hard money lender for the down payment and renovations ? Trying to put one together like this.