All Forum Posts by: Angelique F.

Thanks Chris.

1. Forgive me Im really new at this private money stuff, but when you say it falls off after the 3rd year, do you mean it remains at 1% until its paid off? 

2. I havent heard the term requiring seasoning yet so can you tell me what that means? 

3. and I've not heard a lender mentioned reserves yet either, but I assume that means I can prove I have funds to cover 6 months worth of installments? 

4. and I dont have a portfolio yet/this would be my only property to start so am I too green of a client for your product?

Thank you:)

Oh ok. So if I think I could possibly be in a position to refinance after 2 years, what might be a better loan option for me? I'm looking at a rate below 5% with the 30 year now.

Thank you!

Hi,

Im considering taking a 30 year fixed private money loan and wondered, do all or most private lenders penalize you for paying off the 30 year loan early?  I may want to refinance after one or two years because the Rental is producing enough income that I could get a traditional loan.

Thank you!

Thank you Allison, would love to hear more.

Well alrighty then. Crickets!

You can tell by the taxes if the price is fair for the property.  
"The amount that a property is taxed comes from a percentage of the assessed value of the property."

Just work the numbers backwards so to speak.

Hi Mr. Britt, yes!  Im looking at the following counties, only because I was advised they could be more affordable as they are outside the city. Polk, Meigs, Bradley and Sequatchie.  

If you are a land agent in the area I would love to chat with you about this. Ive never purchased land before and I have concerns about zoning, topography, access, Bears lol, impact fees, and those kinds of things to name a few. I just moved from Chicago to Atlanta shortly before Covid hit to do some investing here, but Ive decided to explore TN instead. Thanks so much for reading.

Hi Christopher, have you ever checked Niche.com to get information about an area? Its a great resource because people that live in an area leave comments. 

https://www.niche.com/places-t...