All Forum Posts by: Account Closed

@David de Luna exactly same here! I am a new investor and their interest was 5% and 1 point....i am new and that was still way too good. Thanks for replying

Hello Everyone, long story short. I was approached by a lender through Linkedin.

A "private lender" Named Connie Caywood. Profile says employed by Killian Financials ect.

We were in the middle of a Deal when she sent me proof of funds letter ect and an application from Killian Financials...

The letter looked over the top and fake and did not fit the template for a proof of funds letter from a bank.

She had reached out to me because of my activity on BP, but is not a BP member from what i can find.

Just wanted to share and make everyone aware! Hope everyone is doing well and keep safe!

@Cody Ruff good to know, thanks for the info!

@Ryan Huynh Thanks for the reply!

@Tim Herman lol i understand that part. Just wanted to make sure there wasnt a creative LEGAL way around it. Thank you for the reply!

Quick question for Investors that have House Hacked.

Is there anyway to avoid living in one of the units, and being able to rent out all units to tenants.

Property is a duplex and i am not in the situation to live in one but it could be a great deal for the right price.

Current debt is 6k on finally cc and 4k left on car. I own a home with my gf. We have a daughter so house hacking wont work. My house wont cash flow either.

Credit score is back up to 705 too.

@Frank Patalano knowing my market and getting outnof current debt

@Matt Crusinberry Thank you for that info. Definitely helps, and i know there are a million and 1 way to make a deal. Just depends on the seller, and solving their problem.

So i understand davids 65, 86 100%.

Thats means i put a down payment of 15%, then negociate the 85% loan and monthly payments?

@Anthony Wick i get that much. But if i were to rent my place at $1350 a month all utilites covered by tenant, i was getting way under the 1%. Like .7 something. Especially if i refinanced.

The 1% did work if i would rent now for $1350 at my current loan of 131k, but when you then do the 50% rule of thumb, it doesnt work.

Current Morgage $880. $1350/2 = $675 morgage for cahs flow