All Forum Posts by: Matt Everling

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Matt Everling has started 15 posts and replied 125 times.

Congrats Jae! What part of town is the SFR in? I have a cousin that lives in Kzoo. Good luck on the rehab.

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@Kenneth Garrett Thanks for the valuable information! Much appreciated.

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@Suny Capezzuto Thanks Suny! I appreciate your insight.

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Thanks @Ehab Shoukry!

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Awesome story @Ehab Shoukry! Would you mind sharing your HML info?

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@Bryan Johnson Did the lender not require the seasoning period because you paid all cash?

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Originally posted by @Eli Schwartz:

Originally posted by @Matt Everling:

@Jimmy Epolito can you expand on that a little more? How can you add the rehab cost to the HUD? I'm assuming you mean the HUD-1 statement?

Hi Matt,

You basically use a strategy called "Delayed Financing", exactly how it sounds, you delay the finance until you're ready to finance.

There's a lot of strings attached though.

-You'll only get up to 75% LTV or 100% of HUD whichever is lower.

-If i remember correctly you only have 90 days to finance from original closing.

-The original closing has to be all cash.

Hope this helps

It does help. Thanks Eli!

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@Timothy Hero Thanks for the quick reply! I’ve read a ton of similar stories here on BP on how a bad appraisal can really screw up a great plan.

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@Jimmy Epolito Thanks Jimmy! Sounds like a great strategy. I will try to learn more about it too. Any chance you could PM me with the names of your two lenders that do 15% down and the 80% LTV?

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I'm rubbing the magic lamp that is the collective BP genius in the hopes of finding a way to "guarantee" a high enough ARV appraisal to pull my cash out in a 75% LTV BRRRR refi...

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