All Forum Posts by: Cynthia Andersen

@Nicole Dunlap I’m also trying to decide to become a Replace your Mortgage client. Since you’ve gone through their program, would you recommend spending this large amount of money just for this list of banks?

@Min Santayana do you know which lenders in AZ that can offer 90% LTV, $500k and can be in 1st position?

@Jennifer Schultz did you end up us getting the RYM program? I think they charge you $2500-$4000 to learn how to do it.

@James Johnson- I ended up not finding a lender to do it for me.  They all pretty much laughed at me.  It was very discouraging.  

@Bob Okenwa-  thank you!!

Good point @Matt Shields- I wanted a company to buy, rehab, get rent ready and mange for me. I am new and think this might be a good way to get started. I thought it might be a better way to learn the process if I was local. 

Thank you @Ali Boone- turn key due to all the pros involved. I don’t have experience or a team in place yet and don’t want to push off getting started. 

Thank you @Account Closed!

I am trying to find a reputable turnkey company within Arizona.  Can you please provide recommendations please?  

Yes, I understand the pros and cons of turnkey companies.  I tend to get a lot of mixed reactions when I say I'm going to use a turnkey company.

Thank you! :)

I keep hearing people saying they have set up LLC with their children who are minors and bought homes with it. I spoke to my attorney today, here in AZ, and he stated this isn't possible. Only if I create a trust then put the LLC in the trust.

For those of you that have done this, could you please provide me some insight on how you did it?

I would greatly appreciate it. 

Thanks!

Cynthia 

Thank you @Shiloh Lundahl for hosting this wonderful event!  Thank you also for sharing your incredible experience. I’m looking forward to working with you in the future. 

@Joe Au- did you ever go this route?  I'm curious to hear your experience.  I just posted a similar question:

https://www.biggerpockets.com/forums/50/topics/600184-which-arizona-banks-offer-heloc-for-purchase?page=1#p3617615

Thank you for all responses!  Here is the company I was talking about:

www.ReplaceYourMortgage.com

It is a method to pay off your mortgage very quickly, within 5-7 years.  They have a DIY program for $2,500 and one that holds your hand for $4K.  If I go this route, I might have to pay the hand holding option, since most lenders aren't familiar with the technique.  The overwhelming response has been that this isn't possible.  They are claiming it is.  I would hate to waste $2,500 just to find out.