All Forum Posts by: Noyessie Hubert

Hi @Chris Seveney

Just DM you the information. Is time-sensitive, so let me know if you need anything else.

I move away from it. Thanks all. 

Hi All,

I have a good deal ( good option ) I don't want to miss. I'm looking for a private money lender who can help me get the funds. The loan terms will be 12 months. Time for me to refinance it.

Here are some details: 

- The max I want to offer is $300k

- The estimated ARV: $500 000 ( I would say 450 000 for a margin of safety )

- Almost no repair Is needed. 

Contact me for more details.

 Thanks, Tony.

Not really worth it and not sure my agent will follow on that. 

Thanks.

Hi All,

I'm hearing that short sell deals are most of the time a bargain since you are getting the property as less than the current loan balance. It looks like the only drawback is the approval process that need the lenders to approve the deals.

I saw one short sell in my area and I wonder if any of you have already found a bad short sell deals ? If yes, I would really appreciate to read your story.

Thanks.

Hi All,

I have a property that needs some renovation. He is motivated since offering 0$ down or 0% interest. The owner has one goal, cash out of the property, and is offering seller financing. He can also guide me on the renovation ( this will be my first time doing it ). I learned about seller financing and was okay to offer a 30-year loan, a 5-year balloon, and 10k down. He sells the property for 150k. But here is the trick, the owner wants to cash out after 6 months. He is open to any type of offer if I can assure those points:

1. I will renovate the property ( the renovation will cost between 30-40k ) 

2. I will refinance in 6 months and cash him out.

Once renovated, the property can be valued at 170k-180k ( He mentioned 200k, but I'm not confident in that ). The renovation will convert a row single family home into 3 family home ( the layout is already there ):

- the first flow will be 1 bed, 1 bath

- the second floor will be 2b, 1bath

- the basement.

If those 3 rents, I can easily have $1800-$2000 in gross rent per month.

So any creative financial idea I can propose to him?

PS: He suggested me an FHA 203k, but I'm not open to that because I want to reserve my FHA loan to buy my primary residence home by the end of the year. that's why I'm interested in this deal, well done, it will not impact my credit score.

So how will you go about this deal? I will reply to any questions and update the post accordingly.

Thanks.

I'm currently looking for a multi-family house with an FHA loan. Up to 2 families ( difficult to get a loan for more with the self-sufficiency test ). I plan to live there for at most three years and move out with another FHA. During those 3 years, I can buy out-of-state property at a lower price, but not null cash flow.

Yes, I will be happy to learn about your strategy. 

 Really widespread. so far I was looking for 2 counties.

@Joseph Guzzardi Jr are you also doing out of state? We can schedule a catchup together. :-)

 HI Cheryl

really interesting, will definitely try that.  

Thanks for the advice.

 Hi Joseph, 

• Great to meet you.