All Forum Posts by: Nick Scaramella

would be refi'ing to pull down payment out and purchase another property doing the same thing. The reason why it would be over market value is because HA pays 110% market value rent to section 8 tenants plus allowances and other things that drive income up and expenses down. I would need a bank that looks at this income producing property for the numbers it's bringing in rather than a comp that sold down the street of a  regular single family home. Because the home is making more than it should be the value of the home goes up.

Hello, I'm in the process of buying a few single-family homes in Ohio and I intend on holding them and renting them all out. These homes are more turn-key so minimal work to practically no work needs to get done to the home before a tenant moves in. Are there such banks that will do a refi after the tenant moves in, in about a month or so? and if so if there is a tenant in the home paying over market value in rent, do appraisers take that into consideration and have the home appraise for a higher value, even if we closed on the home a month prior?