All Forum Posts by: Rivy S.

@Abigail Ellison roughly how much will repairs cost to bring you up to 55k ARV?

Maybe you can sell your leads until you have time to deal with them? Are there affiliate programs for wholesalers?

@Jason D. that is good to know! So how would I put repair costs on the HUD? Would it have to be escrowed to ensure that it's used strictly for repairs? Who manages that?

@Account Closed definitely knows what he's talking about. 

@Greg Soon PM sent with his info

@Greg Soon my lender did a delayed finance, where they covered up to 100% of purchase price, capped at 75% of appraisal.  This wouldn't cover any renovation costs, of course, so depending on how much work is needed it might not be a good option.  PM me if you want a referral, I believe he does loans everywhere in the US. 

@Thomas Eddie thanks! I will give you a ring tomorrow.

An opportunity for buying a mobile home park just fell into my lap.  Rough numbers look promising.  I'm looking for an experienced mentor to coach me through evaluating and possibly purchasing, because I have absolutely no experience in this domain.  Obviously, I'm happy to pay. Thanks!

I'm currently working on a property in Garland, TX.  It was a cash purchase and rehab.  My ideal exit strategy for it would be a wrap.  However, in order to do the wrap I obviously need to secure the loan before I list the property for sale.  The thing is that if I don't find a buyer who wants owner financing, I would also like to be able to sell to a buyer with conventional financing.  The problem with that is that you can't pay off a conventional loan within a few months of closing the loan (9 months I think?) or the lender incurs a penalty. So how can I keep my options open so that I'm not tied to one specific exit strategy?

I'd have them pay for it at closing.  The title company will just deduct the amount from their net proceeds.