All Forum Posts by: Robert Bowles

If you have been on title for less than 6months you might be able to refi the original loan amount (off the HUD 1) through some lenders delayed financing exceptions. When you have been on title for 6 months you can do a cash out refi and pay off the hard money loans.

You also might be able to go over 45% DTI a lot of lenders use. There are a few lenders that will go as high as 50% as long as you get an approval through automated underwriting.

I purchased a home last Feb and was able to refi for my cash purchase, all the repairs (full remodel) and was able to pay for all the furniture (made The Boss happy) after i owned the property for 6 months. I actually applied for the cash out refi the day i was able.

hope this gives you a little hope.

Stuart please add me to your list. I am always looking for something in N/NE PDX.

I purchased a home on Mt Hood last year at auction and did a nice rehab and have been renting it for a few months on airbnb and VRBO.

It has been great. it is a change from SFR's, but with a little more work per renter the returns have been great. Right now after renting since the middle of November i have made enough to pay the mortgage until Nov, and thats just the income so far.

So far so good.