Posted by KC Questions on March 08, 2002 at 16:31:14:
Try getting a 6 month option to buy…
We’re In - FEET FIRST!!! - Posted by DaytonaNative
Posted by DaytonaNative on March 08, 2002 at 15:21:26:
We did it!
Our first “rehab to rent” closed yesterday! We’ll move in in a couple of weeks and refinance to cash out in 6 months! We have some work ahead of us, but are SO excited!
I’m quiet on here - don’t ask many questions - but read almost EVERY DAY! Thanks to all you who keep encouraging those of us who are not sure yet!
My challenge now is that I just came across another property today - that could be a great buy. My cash is tied up in the current house, and I’d like to wait 6 months to get owner occ rates on the refinance - and to raise the value some with the repairs.
Any ideas how I could offer cash on this new find without having to settle for high percentage rates on the refi on the current house? How likely is a seller going to wait 6 months for a sale? Would I be better off applying for an investment loan on this?
Thanks again! You are all WONDERFUL!
DaytonaNative
Re: We’re In - FEET FIRST!!! - Posted by KC Questions
Posted by KC Questions on March 08, 2002 at 16:32:20:
By the way, congratulations!