All the money is being made in REOs at the moment. Lower risk than securities, and great cash on cash returns. You can buy them, or finance them at <50% loan to value. To add yourself to the mailing list for opportunities go here. /// This week a quick review of mortgages after bankruptcy. In short, the waiting period for FHA is 24 months, and for Conventional 48 months. See below. Next week: Waiting periods following foreclosure, short sale, or modification. /// Rates are still near record lows, but underwriting criteria are becoming tougher: Higher Fico requirements and rental revenue exclusions from qualifying income when buying 1-4 unit properties!  /// Make it a good week folks. - Paul :)

From Fix&Flip to Fix&Hold
(Fix and) flips, are a challenge because markets remain weak and it takes longer to re-sell properties. Time=Money. I recommend a hold strategy as revenue property to avoid market risk, and ultimately optimize return on investment.
2, 3, 4 unit properties with rental revenue that support a bank refinance for a permanent loan work best, so you can still cash out. Planning for long-term hold still does not prevent a quick sale. To review a summary of construction/rehab financing options, go here. Planning is key. Contact me early.

Mortgages after bankruptcy
The most common types of personal bankruptcy are:
1. Chapter 7 ("liquidation"). Details
2. Chapter 13 ("payment plan"). Details

An elapsed period of less than two years, but not less than 12 months, may be acceptable for an FHA-insured mortgage, if the borrower can show that the bankruptcy was caused by extenuating circumstances.

For further details go here

 
Finance REO investments
I have a constant stream of investment opportunities with annualized return ranging say 10% to 50%+. Minimum investment $10,000. Go here to add yourself to the mailing list.

 

  Contact me 

 

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