Off Topic
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
Funny Real Estate Moments.
- Borrower is pulling equity out of a rental property, to purchase other rentals.
- Borrower is named Han, and owns several other rental properties. His whole family is all about buy-and-hold REI, they kind of have a little dynastic thing going on.
- Writes in his cash out refinance motivation letter of explanation three bullet points for what his motivations are. One of them is a pretty funny little joke, he writes that his goal is to "preserve and expand the Han Dynasty."
- That was only kind of funny. What was REALLY funny is that the underwriter didn't get the joke...
- ...She conditioned to see the last two years of tax returns for the Han Dynasty, thinking it was a business that the borrower had an ownership interest in. The underwriter apparently is not much of a student of history.
- Obviously I do not have a time machine that would allow me to go back 1800 years to Imperial China.
- There were a couple other conditions, so it didn't hold anything up, but now (due to lack of time travel) there is a "Memo to File" somewhere at Fannie Mae HQ where I explained in great detail what the joke was, what the historical Han Dynasty was, and why the joke was funny.
What you got?