Financing and Credit

So I have a question about financing. If I buy a house for 50,000 and I make a few repairs say 5,000 and the house is worth 100,000 Do I do refinancing to pay off my mortgage and have 45,000 for other investments.

This is just a example with random numbers???

If you find a good deal and do refinancing can you make money or am I confusing myself even more???

hi everybody!
hope all doing well and make good business!!

i want to buy family house to rent.
if i put the regular 20% down payment and rent...i can do it once and thats it...
my idea was to find a seller who willing to sign contract higher than the sale price (but no more than market value) in this way i can get mortgage for almost all sell peice.
for example:
asking price and real value - $600K
close the deal at - $500K
if the contract will be at $500K - i can get loan of $400K.
if in the contract will be sale price $600K > i could get loan for $480K.

my questions -

Hope someone can advise me.
Situation - Have over 100k in equity, some assets, good credit, little debt but am unemployeed. Was layed off in August.
Want Home Equity Line of Credit to fund a flip but have not been able to obtain due to no income.

Is this obtainable and by what types of lenders?

Thanks so much

First I would like to say that I am new to the forum and have read Dean's books. The books and this forum are a great tools for info.

Can anyone please direct me to a few good banks/lenders who do not require seasoning? I closed on my three unit property on 9/16 and need to access my equity/20% downpayment for repairs.

Please let me know of any good lenders Los Angeles/Glendale area.

Thank you.

I am trying to think of a way to get a mortgage for property. I have a decent credit score but little job history and im currently unemployed. Is it possible to get a co-signer???? Can anyone help me out here

I'm in the process of buying a property where the owner will hold part of the mortgage. The want authorization to pull credit reports on my husband and I. Since I do not know them, I am uncomfortable giving them access to our life line-impeccable credit reports. Not too mention the private information they need to access them.I have pulled the reports myself-thereby avoiding hard pulls- and provided them with these. Shouldn't that suffice? Should I allow the title company, who is preparing the mortgage note, access to pull the reports for them? Any suggestion?? Thanx

I am trying to find out some more information on seller financing. I know some of the benefits but im looking for anyone that has done this and the process that is required.

Benefits:

1. Attract More Buyers,
2. Sell at a Higher Price
3. Close on the Property Quickly
4. Sell the Mortgage off for Cash

I just spoke with some Realtors today. The one I spoke to the longest told me that she could only make an offer on a house if I was approved for a loan. So she said I would either have to get approved myself OR have a buyer lined up (with a loan) BEFORE we made any offers. Is this correct? I tried telling her that its possible to do it otherwise, since I see people everywhere doing it.

Please help!!

I found a great foreclosure near my school. Its going for 78,000 and has been through an auction already and did not sell. The FMV is 148,000 its a nice 4 bed 2 bath family home in a great neighborhood. I dont have much money but would like to find out what you guys think I should do.

Could I get a loan from a bank. I make about $520 a month from my Grad Assistanship and I live on campus for free. I would like to buy this place clean/fix it up and try and sell it for my first deal.

Is there anyway to get financing now and especially in my case??

2nd Option