Need Subject to Appraisal No Seasoning Refi!

[TPSG, LLC 3]

Here's the scenario I have:

 

Bought a property for $145,000 in January 06

Spent so far about $6,000 fixing it up.

Property is worth fixed up $195,000 (confirmed by appraiser)

I need more funds to finish up the deal to LO it out.

Appraiser said I can subject to refi and shouldn't be a problem.

 

Well the problem is, I have to find a good...read Honest and Smart broker or lender that can help me refi the property with little to no seasoning.

 

I am interested in doing something with low payments upfront like a Pay Option Arm for 5 years because obviously I plan on selling or LO the property.

 

DO NOT contact me if you think you can do this deal or are just trying to make money. Only contact me if you can help.

[mpine 0]

Here's the scenario I have:

 

Bought a property for $145,000 in January 06

Spent so far about $6,000 fixing it up.

Property is worth fixed up $195,000 (confirmed by appraiser)

I need more funds to finish up the deal to LO it out.

Appraiser said I can subject to refi and shouldn't be a problem.

 

Well the problem is, I have to find a good...read Honest and Smart broker or lender that can help me refi the property with little to no seasoning.

 

I am interested in doing something with low payments upfront like a Pay Option Arm for 5 years because obviously I plan on selling or LO the property.

 

DO NOT contact me if you think you can do this deal or are just trying to make money. Only contact me if you can help.

 

Hello Christian,

 

We are currently not licensed in your state, however we expect to be in the next 90-120 days (waiting on your states Banking Committe). Unfortuntaly we can not do this loan as a bank loan regardless of licensing. Option Arms require 12 months of seasoning and include 2 or 3 year prepays when NOO.

 

I would look to see if you can find a local private lender who you can partner with before you go the hard money route. I do have private funds available if you can not secure your own sources.

 

Thank you,

 

Michael Pine

[TPSG, LLC 3]

Michael,

 

Appreciate the response. Exactly how would you think about using a private lender to make this work as a partner? Email me off the boards when you get a chance so I can ask you some more questions.

 

Thanks,

 

Christian

chris@tpsgonline.com

[airware10 0]

did you ever find that "honest and smart" Broker??