@@goreeska5014 thank you for the sub! I definitely appreciate you. For this particular deal, do I did not have to, because I bought it via creative financing. And I funded the rehab with money I had out of pocket.
@ it’s a bit harder to get any type of sub loan from a traditional bank or lender when you have acquired a property creatively. Because the bank is still in 1st position. Usually your lender will want to be in 1st. I know I was rejected by a few different lenders when I presented them this deal (to fund my rehab) due to that. It was not ideal for me that I payed out of pocket. But I just did it anyways. For deals like these- If you are unable to gain capital for the rehab - I would recommend JVing or partnering on the deal with someone who does. Or finding a private money lender that is willing to be 2nd position. There’s other ways too but these are the simplest most cost efficient ways.
Contractor took advantage for sure... WYM its MONDAY MORNING and they not at the job site. It also looks like a mess, that's probably what signaled whoever stole that copper
That’s really good insight. After that Monday morning when they weren’t there, I ensured that moving forward they were working around the clock from then to make sure the rehab was done ASAP.
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Thank you for explaining in detail.
@@keneg2406 you’re welcome! I appreciate you watching! Hopefully this video was able to give you some valuable insight
great work bro!
@@filippbloom9997 thank you! I definitely appreciate that!
Such a great video !! 🔥🔥🔥🙌🏾🙌🏾🙌🏾🙌🏾
Thank you so much! Glad you enjoyed it!
Great work love to join the team
@@AmazinHandymen thanks so much!
New subscriber here, love the video and looking to get into real estate investing. Did you have to get a loan for the rehab?
@@goreeska5014 thank you for the sub! I definitely appreciate you. For this particular deal, do I did not have to, because I bought it via creative financing. And I funded the rehab with money I had out of pocket.
@ thanks for sharing. For someone who may not have that much capital, would a construction loan work in this scenario just for the rehab cost.
@ it’s a bit harder to get any type of sub loan from a traditional bank or lender when you have acquired a property creatively. Because the bank is still in 1st position. Usually your lender will want to be in 1st. I know I was rejected by a few different lenders when I presented them this deal (to fund my rehab) due to that. It was not ideal for me that I payed out of pocket. But I just did it anyways. For deals like these- If you are unable to gain capital for the rehab - I would recommend JVing or partnering on the deal with someone who does. Or finding a private money lender that is willing to be 2nd position. There’s other ways too but these are the simplest most cost efficient ways.
@ thank you so much. This makes a lot of sense. Appreciate you taking your time to break down these details.
Hi. What state is this in?
@@ellepatton in Hampton Roads, Virginia
So this was a subject to deal?
Yes! I acquired it via the subject to method
Contractor took advantage for sure... WYM its MONDAY MORNING and they not at the job site. It also looks like a mess, that's probably what signaled whoever stole that copper
That’s really good insight. After that Monday morning when they weren’t there, I ensured that moving forward they were working around the clock from then to make sure the rehab was done ASAP.