All Forum Posts by: WIlliam Hernandez

Thanks a lot Chris, Upen, and Fred. Great information. I want to play by the rules of a conventional loan and try to make this work. I might have to tweak my search criteria slightly to find a home considered more move in ready, just in need of updates. :D

My background includes renovation, construction and apartment building property maintenance/management. I want to buy a house that needs work and do a live in flip.

This will be my first home and I pre qualified as an owner occupant with 3% down, 3% interest, conventional 7 year ARM from a local lender.

Before making offers I need to get a better idea about which properties I can get away with purchasing. Does it matter to a lender or home insurance company if the utilities are shut off, if the furnace doesn't work, if the roof is leaking, if it had a fire.

I asked my lender if they would mind if I bought a place that needs work and he told me as long as it appraised I would be fine. Do you have any insight or personal stories about having problems buying fixer uppers with your lenders.

Thanks!