All Forum Posts by: Sean Blomquist

@Mitch Reaume it all depends on what you are doing with the home.  You said "purchase your first home".  You need to clarify on if that is going to be your personal residence, or you meant your first investment property.  If an investment property, is it a turn key rental, or are you flipping it?  Those will require two different types of insurance.

@Josh Harren what part of MN are you talking?

@Zack Ak they are most likely saying that, because that is how they would value it.  If you refinance with someone that is direct to Fannie Mae, that isn't the case.  They will value it based on the appraised value once the rehab is completed.  We've seen people rehab and refinance is as soon as 45 days.

@Samuel J Claeson reach out to @Kim Burke for some options if you want to owner occupy.  If you want to pick them up quicker than one a year, shoot me an email and can discuss some other options.

@Ben Smedstad shoot me an email and I can send you some info.

@Evarson Azevedo shoot me an email directly and I'll send you some info.

@Jay Hinrichs yep, we are on the same page.  Great strategy, but nothing new.

@Jay Hinrichs I agree, it is great strategy, and skin in the game helps keep them on task.  

@Jay Hinrichs it is still possible and we can show many examples of it even in this strong marketplace.  Obviously not as much as it used to be, but it is still possible.

Yes, we do underwrite very stringently and make sure that we aren't getting people into something where it isn't going to be beneficial for them.

We also make sure that they are working with a refinance lender that will be able to get them out of our loan without any issues.  All of this is looked at ahead of time, so they don't get into a deal and then have a problem when they go to refinance.

At our March meeting Travis talked to you about how many rentals it would take to retire and how to look at all the numbers to make sure they are rentals that will cash flow consistently.

In April, please come join me and Kim Burke with Leader One Financial to learn how to buy cash flowing properties with lots of equity for little or no down payment. Yes, 100% financing for real estate investors is happening today and you need to learn and understand how it is being done. There are a few keys to this working and one of them is finding the right property. Come learn why today is the perfect time to be buying rentals and why the truly wealthy have either made their money or hold their money in real estate. Finally, you will learn a little known strategy that professional investors are using to buy cash flowing real estate without using much (if any) of their own cash! It is not hard to become rich if you know how. Come network and learn from experts that are successful in this business.

We meet once a month to bring real estate investors together. The meeting is free and is based around networking. Have a property to sell, service to offer or just want to join the local real estate investor scene please join us at our next meeting