Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

As mentioned he is not out there selling programs or courses etc.

They purchased using a program that finances 100% of your purchase/rehab on paper, and takes a 15% deposit as cash-collateral that they hold until you refinance.• $60k purchase• $35k rehab• $95k total rehab loan payoff• 15% deposit = $14,250 "down payment"• $126k ARV (confirmed via refinance appraisal, borrower expected this to be higher)• 80% rate/term refinance ($100,800 loan) @ 6.75% [700-719 FICO]• Applied $4k of deposit to payoff for an updated payoff amount of $91k• Cover closing costs with 80% r/t refi + $2k back to borrower at closing (still considered a r/t refi if under $2k) + remaining $10,250 deposit reimbursed after payoff = $12,250 total back to borrower• $4k of his deposit + closing costs for rehab loan = his "cash" in the deal• $1,250 market rents• Total PITI = $765.62• DSCR = 1.6327 I do not see the hold costs.  

Performance will vary based on the local housing authority executing the Section 8 program.

Digging deeper it is a legit program, that actually provides other tools and support similar to Rent to Retirement.

Not a lender that "has done one before" or "does them sometimes"The problem is, people will work with a lender that says they're familiar because they want your business, and the 203k is the type of program where you'll only find out they messed up when its too late (about to close, 30+ days after contract)From there, the next important thing is to get a 203k consultant into the property immediately after going under contract/accepted offer. 

Hello everyone,Is anyone here currently part of Jerome Maldonado’s developer mentorship program?

See if your state has any down payment assistance programs.

A lot of concern when it comes to values and even seeing some programs throwing in CDAs that are cutting AMC-driven appraisal values.

There is not much the loan officers can do to deviate from the highly structured loan terms these programs offer.