I want to get into buying and selling realestate preferably fixer upers.
First, establish your team–find a good realtor and mortgage loan officer who are experienced with investment properties. If you plan to rehab then sell the properties, I would recommend 100% financing. The interest rate is higher than if you had cash for down payment, but you’ll have more cash for rehab. I wouldn’t worry about the interest rate anyway if you plan to sell within a few months. Be sure to keep all your receipts–lenders look unfavorably on houses selling for much more than purchased for a few months ago–unless you can document costs for repairs/ improvements. Call me if I can help. Rick Lanicek (800) 256-0817 Ext 202 www.primelendingonline.com
November 24th, 2009 at 12:25 pm
First, establish your team–find a good realtor and mortgage loan officer who are experienced with investment properties. If you plan to rehab then sell the properties, I would recommend 100% financing. The interest rate is higher than if you had cash for down payment, but you’ll have more cash for rehab. I wouldn’t worry about the interest rate anyway if you plan to sell within a few months. Be sure to keep all your receipts–lenders look unfavorably on houses selling for much more than purchased for a few months ago–unless you can document costs for repairs/ improvements. Call me if I can help. Rick Lanicek (800) 256-0817 Ext 202 http://www.primelendingonline.com
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November 24th, 2009 at 1:15 pm
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November 24th, 2009 at 1:35 pm
For loans, call me, I have other investors doing the same, afterword’s… a Realtor that’ll work with you on these projects, then, identifying properties then making business decisions.
Antal
AToth@Surefastmortgage.com
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