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I can follow you since I do construction loans as a banker–problem is
How are you getting bank to rehab an investment property? Bank only
interesting in rehabbing primary residence and won’t look at you if
you have more than 4 properties on your credit report– in New York
I had a rehabber called yesterday asking for the same thing and couldn’t
help him-problem is I’ve been dealing with him for years and am currently
refinancing his primary residence but had to give him a big NO on his new
purchase. He said he called a lot of banks and got the same big NO–He
needs a lender since he does a lot of deals and can buy the property but
no one will rehab it
By the way it was tough to hear this video
Sondra – look at your local portfolio lenders or small local commercial banks. They do rehab loans all the time! No limit to 4 properties either!
I loved your presentation. What kind of credit score would you need to secure a deal like the one you presented? Since any deal would be my first, would I need to talk to a “Hard Money Lender” to do my first deal with no experience?
For the banks I deal with, they typically look for pretty strong credit. I’d think scores in high 600s at least but every bank is different
I just playing around with the software and it just great I love it, great case study construction loan. excellent.
The video was a bit specific especialy if you’ve never done this before. None the less it was informative. Where are you based out of?
Based out of Richmond, Va
Thanks for the demonstration. We have a multi-unit project that is proposed for conversion from hotel type rental units to larger fractional ownership units. The plan is to sell the units (located within a resort) and owners will place their units in rental program. This may make a good case study video for both Rehabvaluator andRentalValuator that we can share with you and others in the future.
Sounds good, David. Would love to see it!
Thanks Daniel for the walk through. Your info is always very educational.
your a beast!!!
i have to upgrade to the premium version but I can already see how I can use this software to catapult my real estate transactions. thank u! visionary!
Daniil I am in the process to purchase the premium package (Tuesday), and i have purchased foreclosures back in the early eighties with Damian Johnson who played out offensive lineman for the new giants, and former Mayor Gibson of New Jersey before relocating to North Carolina in 1993. I owned and operated a child care development center until 2013 had to closed due to lack of state funding. I understand a little about real estate and how it can change your life if done right. I see change from a lot of leg work, to automation. My house will be in foreclosure by the first of the year i needed to make this work. I also would like to purchase the laze millionaire. software as soon as possible. In three to ten years i would like to leave something for my grand children. I realize the grands and great grands don’t remember there grand parents is because they didn’t leave them anything. Can i get some mentoring assistance from you are your staff? Thanks in advance. My email is email@example.com
Hi Daniil, I purchase the premium softway 24 Dec., 2015. I am going to present my analysis to a couple of community banks at the same time and avoid the pull of credit by using one credit report from one of those banks. If they use Experian will have Experian, if another only use Equifax I will make sure to have one on hand. and Transunion, etc.
My partner and I really appreciate this, Ive done many classes, seminars which are all helpful. but this tops the cake. I is really a helpful tool.
I will let you know how the presentation goes and the approvals I will get.
Thanks will keep you posted.