#FirstWire
Thursday, June 02
I just made my first electronic wire to close on my first real estate property! #firstwireFor all those investors who are looking to discuss my first real estate deal, what I learned, and what mistakes I've made, message me! #myfirstdealI've realized after buying my first SFH, I want to skip the ...
Closing first property and marketing house
Wednesday, June 01
My 4.5%, 30 yr fixed, conventionalMortgage was approved and closing is set for Friday. The past few days have been a wake up call that I'm actually going to be responsible for this awesome investment! It really hit home when the current tenants vacated and I'm going to be the owner of a 5 bedroom...
Mortgage approved (thanks to my banker)!
Thursday, May 26
Two weeks ago I got a surprise e-mail from my banker about my mortgage application. He said that my student loans could be a problem with my mortgage approval. Basically, underwriting had to consider the monthly loan payment at 1% of the outstanding loan balance, even though I'm on income based r...
First mistake - name on contract
Wednesday, May 04
I thought after listening to countless BP webinars and podcasts I wouldn't make any stupid mistakes. But I did, and it was right from the beginning. On the buyer name on the contract I used an LLC. Little did I know, conventional mortgages, such as a 30 year fixed from a big bank, will not lend i...
Offer and Contract
Tuesday, April 05
After submitting several offers on different property, my offer was accepted for $95K. I initially offered $65K for a property that needs rehab and was on the market for over 6 months. After speaking with the agent it was clear the Seller was motivated. I initially did not think this was a good i...