All Forum Posts by: Edwin W.

Hey @Swat Khan Thanks for you input! I have thought about Hard Money but do they also fund the full purchase price? Also, aren't the points or interest seem kind of high you think?

Hey @Alexander Bigwood Thanks for the advice!

Hello,

If you find a great deal, are there private money lenders or private money partners out there that will loan up to the full amount? I don't mind doing a 50/50 fix and flip if there are people out there that will put up the full amount of the purchase price of a discounted property? 

Edwin 

Hello,

I have been going to school full-time for the last 2 years. And I have about $20,000 in my IRA and credit score of 638. Can someone get approved for an FHA loan to buy a duplex, but has no work history for the last 2 years? And can the income from one of the units be reported as income?

FAQ: Can I use education or military service in lieu of employment?

FHA does not impose a minimum length of time a borrower must have held a position of employment to be eligible for a mortgage. However, the lender must verify the borrower's employment for the most recent two full years. If a borrower indicates he or she was in school or in the military during any of this time, the borrower must provide evidence supporting this claim, such as college transcripts or discharge papers.

Handbook 4155.1: 4.D.1.b

Thanks everyone!

Hello,

Does anyone know if you have to pay a fee for getting pre-qualify for a mortgage? I plan on going to see a mortgage broker to see where I stand.

Edwin

Hello,

My name is Edwin and I want to get into the Probate investing niche. I went to the Probate Office today and asked for a list of the last 3 month's of probate cases. How can I know if the probate case has real property tied to it? I would appreciate the help and am trying hard to close my first deal.