All Forum Posts by: Tristan S.

@Rae Hoffman that's awesome! Well I also live in Katy and do my marketing here as well (looking for rentals). If you guys have more deals than you can handle, I would be more than happy to buy it from you!

Hi Rae Dolan , what type of marketing have you used to find rentals in Katy? Thanks

@Upen Patel, so are you saying that it is possible to refi from HML with a conventional fannie mae/freddie mac loan because it is not considered as a cash out refi?

I did not know about the Fannie HomeStyle Rehab loan, I am not sure that it would be applicable as I need to close fast.

Jerry Ta , Will Pritchett thanks for your inputs. It seems like I am not the only confused person around here. Maybe some lender here on the forum will be able to shed some more light on the rules and regulations.

Jerry Ta and Tyler Blackwell , thanks for your answers. What I do not seem to understand is why some do it and some don't. Isn't there a rule about seasoning that everyone has to applicate? (Fannie Mae/Freddie Mac guidelines) Thanks

Hi Guys,

Currently working on a deal in Houston and looking at different financing options. I need someone to help me understand the rules and regulations around the refinancing process (into long term, conventional, fixed rate) after a private or hard money loan. I keep hearing opposite information on the subject : "seasoning", "no seasoning", "use of ARV for refi", "use of sales price", "yes it's possible", "no it does not follow general fannie mae/freddie mac guidelines".

I need to understand where the truth lies and what rules are your answers based on. 

Thanks a lot for clarifying all this.

Check out the RICH Club and "Houston real deal" on Meetup.com. The second one is 75% networking, you'll meet amazing people!

Hello guys,

Looking at a potential deal here in Houson, Texas. I am crunching the numbers and need some help trying to determine what would be the costs associated with different financing methods :

- HML+Long term refi : 2/3 points + 10/14% interest only payments, what closing cost to expect or what is a good estimate when closing with HML? (house ARV around 160k), then what would be the extra cost to switch to long term financing after that and is seasoning required? What are the pitfalls?

- Private Money + Long term refi : cost of money will depend on person you deal with, what cost can be assumed for the closing costs? similar to HML? What about the transition from private to long term, how would that work?

- Finally, some places offer a loan for rentals, 6% interest, 2.75 points and will loan up to 75% arv. Once again, will the closing costs similar? or will they differ? No need to transition in this case but interest are higher, I am trying to figure out if it would be worth it.

Thanks for your help guys!

Yeming Fan thanks for the tip! Really interesting app!

Michelle Williams I just bought my primary residence in Katy north in order to be located in Katy to help with my investments efforts. I'm doing my own marketing and plan on heavily network locally with my neighbors, the community to hopefully get my name out there. I would love to meet up to discuss more. I'm also trying to connect with as many local wholesalers as possible as my primary goal is to build my rental portfolio. Olu Orekha I would love to Meetup too, love to hear more about your past projects in Katy as i do not have a ton of experience yet. I sent you guys collègues requests.