All Forum Posts by: Catherine Coy

Department of Commerce Federal Credit Union now lends in all 50 states.  They have some of the best portfolio pricing anywhere.

Congratulations on identifying a profitable candidate for purchase.  There are calculators available here at Bigger Pockets that will help you with your decision and strategy.

https://www.biggerpockets.com/...

First, Steven, congratulations on this extraordinary opportunity that your mother has presented to you!  Your mom can do seller financing and receive her equity in the form of the difference between what you're paying her in interest and what she's paying in interest (if there's a loan against the properties, that is).

I'm thinkin' this strategy is covered in this book.

https://store.biggerpockets.co...

Is your question, "should I base my tithe based on net or gross income?"  That depends, do you want net or gross blessings?  ;-)

There are more programs than ever before for real estate investors who don't show a lot of income on their tax returns. There are bank statement programs using both business and personal accounts for as few as three months. There are DSCR [debt service coverage ratio] programs that require no income at all to be stated on the application.

Catherine Coy

Loan Originator

Shore Capital Corporation

335000 [current balance] divided by 545000 [current value] = 61% LTV [loan to value]. You should be able to get 46500 cash out if the maximum CLTV [combined loan to value] is 70% at the HELOC provider; more if the lender's maximum CLTV is higher.

Catherine Coy

Loan Originator

Shore Capital Corporation 

Hi Yong ~

Do you file U.S. taxes and do you report income received from those foreign properties on your tax returns?  Do you submit tax returns to qualify for a U.S. loan?  

Catherine Coy

Loan Originator

Shore Capital Corporation

CMG Financial.

https://www.cmgfi.com/all-in-one

Charlie MacPherson, I find it hard to believe you're keeping 100 cents of every commission dollar you earn with NOTHING taken out by your broker.  Why in the world would your broker keep you on his/her roster if you're not providing him/her with SOMEthing?

No one has mentioned "flat fee broker."  That's the deal I have.  Brick and mortar if you need it; otherwise, you're on your own.  Only experienced agents need apply.  My broker charges $675 per transaction + a fractional fee for E&O insurance.

Whew! Glad I found this thread. My local REI is hosting Joe McCall tomorrow from 9:00-5:00 for $100. I thought, "Well, a hundred bucks isn't much," but it is when the guest speaker has such a dubious reputation. Thanks, Bigger Pockets members, for saving me time and money.