Posted by Claude on February 19, 2001 at 15:52:45:
Here’s the scenario:
60 - 65k FMV
39k Hard Money Loan
35k Purchase remaining 4k fix up
12% interest $415/mo holding costs
resell 59k retail or 1 yr. lease option 62k, 3k option consideration, $700/mo. rent (market rent $600 - $650), $200 rent credit
I only have enough cash to hold for 6 months. If I’m unable to flip in that timeframe will I have a problem refinancing due to seasoning?