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Benjamin Kruell
- 2 Answers
- 1 Blog post
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Previous:
Mortgage Planning Specialist for United Mortgage Financial Group
October 2007—present
COO for Credit Education Resources
December 2007—present
Specialties:
Certified Expert in the areas of Credit and the Credit Scoring Model.
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Certifications
& Awards:
& Awards:
Certified expert in the Credit and the Credit Scoring Model.
Interests:
Boating, Camping, Hiking, Training My Dog, BBQ's with Friends
About:
Ben Kruell was involved in the commercial construction industry for over ten years. After finishing school in Duluth, MN he moved to the Minneapolis/Saint
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Benjamin Kruell answered:
Michael,
Lenders are cracking down on investors who flip houses. Some consider equity stripping if money isn't put back into the property. IE; buying a bank REO for 60 cents on the dollar and then selling it for full market value.
Most lenders are now requiring a title seasoning period just like FHA. 90 days is the minimum and 6 months seems to be average.
There are lenders that specialize in "Fix-and-Flip" Loans even in today's market.
As Zip said, you need to find a wise investment which isn't too hard to do in this market. The question then becomes will you be able to get financing for your wise investment? You will need at least 20% down.
Follow the link or contact me to work with someone who understands real estate investing.
Good Luck!
Ben Kruell
Mortgage Planning Specialist
Lenders are cracking down on investors who flip houses. Some consider equity stripping if money isn't put back into the property. IE; buying a bank REO for 60 cents on the dollar and then selling it for full market value.
Most lenders are now requiring a title seasoning period just like FHA. 90 days is the minimum and 6 months seems to be average.
There are lenders that specialize in "Fix-and-Flip" Loans even in today's market.
As Zip said, you need to find a wise investment which isn't too hard to do in this market. The question then becomes will you be able to get financing for your wise investment? You will need at least 20% down.
Follow the link or contact me to work with someone who understands real estate investing.
Good Luck!
Ben Kruell
Mortgage Planning Specialist
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