All Forum Posts by: Cris Normandt

Hey Evan, feel free to reach out…I shot you a connection on here. BP usually flags for self promotion so I try to limit it on threads. 

@Daniel Y. thanks for looking out!!! 

I agree with Jimmy on this one. I think the traditional AirBNB in the Henderson area is getting more difficult by the day. The 31 Day AirBNB seems to be the play here in town. I work with an agent that has done quite a few of these. Feel free to connect if you have any questions. 

Hi @Aerial Atlas I always have investors from the CA area trying to buy in Las Vegas. Just expect to put anywhere from 20-25% down and the rate to be slightly higher that that of a conventional primary. Feel free to connect!

Hi Sokhna,

My best advice would be to speak with multiple lenders. Big banks do not focus on mortgages like your local mortgage lender does, therefore you might not get the level of service you might want. individuals usually want to rate shop, but it is more important to find out what the payment is going to be rather than shopping for the actual rate. (hidden fees) Make sure to understand your loan options and understand what cash you will need at closing. Lenders will ask to run your credit, this will be a hard pull. You can have different lenders pull your credit within a 30-45 day time frame without having a major impact on your credit score. I hope this helps. 

Thanks,

-Cris

Hi @Kristian L., I have a few people that can do handyman work and repairs. Please shoot me a DM if interested. 

Thanks,

-Cris

Hi @Bob Weber have you considered AirBnB out here? There are some areas of town that do not allow it, but I know some people who have capitalized on this method of investing and plan on purchasing SFR to list on AirBnb. Definitely check the Henderson area.

@Greg Reese I think some of your questions can be answered by how you intend to use the property in CA when you move to TX. Also, your interest rate you received in 2020 might be better than what it would be now to do a cash-out refi over a HELOC. Have you connected with any lenders to get a ballpark of what your rate would be?

Hi @Aries Li, Conventional lenders do have non-QM products that lend out to companies as long as it meets their criteria. You will most likely see a higher interest rate and a lower loan to value than if you were to get a loan in your name. You could always check with a few lenders and see if you can get a loan in your name and tell them you plan on transferring it into the LLC's name and see if they will allow it. (they have the ability to call the note due when it is transferred so be careful)

No Sir! It refinances that VA loan into another loan product therefore restoring your entitlement. Hope this helps!

@Oscar Leon just refi that place into an IRRL and use your VA loan again if your entitlement is used up. That will get your eligibility back.