All Forum Posts by: Daniel Weed

@Darren Mancuso  Please send me the info about this property.  [email protected]   

Thanks. 

Has anyone received a reply about these properties?  

Having a credit card, using it responsibly, and paying it off every month will build credit and not affect your debt to income ratio at all. Make sure you know yourself and can ensure you have the will power to not overspend with it. That's the most important thing you can do before getting a credit card.

Is 4000 a typo? Supposed to be 40,000?

What's the 1,430 / 1918?  Taxes and year built? 

@Jason Pinkerton, I'm very interested in this property.  Please send me any info you have to [email protected].  

Robert, can you send me the info as well? [email protected] 

Thanks!

Thanks guys. I'll definitely look at navy fed since I'm active duty right now. On the topic of seasoning, I'm expecting about 22000 to come into my account in the next couple months, which would negate the need for a HELOC. Would that also need to be seasoned? The only real reason I'm looking into a HELOC is because I've read so many posts about using one for a down payment to qualify with another loan. With all that being said, does anyone have a recommendation of a lender to use to actually purchase an investment property that will take the projected income of the property into account?

I don't know why the app erased the line breaks. Sorry if it's hard to read.

I've been calling around and searching online for a HELOC in AZ since that's what I continually see recommended as a way to get money to use as a down payment. The problem I'm having is that a lot of the lenders I talk to don't offer them. Of course even though I tell them what I want and they say they can help me, after 20 minutes into the conversation they only give me options to refinance or give me a horrible second mortgage offer. Also, never ever try lending tree for anything. I was just looking for a HELOC there and now I've received over 25 phone calls from lenders thinking I want to refinance my mortgage. And none so far that I've actually talked to has offered a HELOC. Can anyone help me? Also, since a HELOC or equity loan would increase your debt service, how do you then qualify for yet another loan to buy a property? Trying to explain what I'm looking to do based on the strategies I find here to these guys has been giving me a nasty headache. They also will only look at my taxable "net income" after accounting for insurance, management, depreciation, etc. to use for my dti. This, of course, is a very insignificant number. So really what I'm looking for is a good company to use that will give great rates for someone with an excellent credit score that would like to put about 20-25% down partially using home equity and will look at projected income of the property that I'm wanting to purchase. Any suggestions would be great.