All Forum Posts by: Darway Dalmeida

If you are evicting a person, they have more issues than rent payment. The court will issue a judgement and that is a form of collection and can allow you to place lien on anything valuable they have.

Anyone with good funding offer can  contact me at

@Chris Martin is the most logical advise I have seen for anyone looking to do this silly scam called first LEIN HELOC/ pay off you mortgage in 7-8 years. They will charge you thousand for junk information, I am in most of you guys situation, I have grow a little too big to just go through Fannie/Freddie underwriting guideline. I have 8 rental therefore 45-50 DTI is not realistic for me anymore. I have 3 properties that's free and clear therefore you have all the scam to pay your mortgage in 7 year etc. If this was as doable as the say it is. They would buy theses houses themself and pay it off in 7 plus years and become a billionaire.

It takes too much time to acquired these properties therefore just be careful before you lose your family nest eggs. I will try one 1st LEIN mortgage and see how it works for a first few year before I attempt to go all out. Secondly, if someone is charging you 3-4k for a first LEIN, I would call all banks that does 1st LEIN and apply directly. HELOC does not cost that much. Do not pay for something you can do yourself. Finally, We all know mortgage industry is not keeping up with new investors/investment scenarios, we need innovation to catch up with the time. Just take you time a vet the lenders and you will be fine @Douglas Middleton. 

If you can get a HELOC, that's the best way to go. I will tell you thee are better rates out there for HELOCS. Borrowing 150K the other way might cost anywhere from 12-15K on interest and points for 6-10 months. Hard money have helped me gained a lot of properties but they are worst form of money to relied on for starters.

If you have the equity or equities go for it. I did it and still uses mine to this day. It releases pressure on going through with a horrible decision. Keep in mind, I still uses hard money but only if the company have a program that does not charges interest on funds in escrow.

Good luck @David Weeks

Home depot or Lowes strategy is always a great idea.

You will never go wrong with those.

I am serious, I have a huge project coming up in the city of Albemarle NC, just waiting for permit to clear. I bought the property about 4000 sq feet and the city is allowing me to convert it into a 6 Units multi-dwelling project without changing to sq footages. I have the funding already but after this project. I want to buy land and develop it, instead of old home rehabbing. I am interested learning about this funding  @Erik Browning. I already owned 7 single rental units in Charlotte market. This is the biggest rehab project I will be handling and it is little complex from design to permitting. I might want to use the 203k funding on this project and hold onto my funds for contingencies.

Try these folks,

They have something in that price range for mobile home

https://www.mobilehome.net/mob...

3 bed room is 1500.00 minimum

What is required to get 5.99 interest rate?

Ans # 2, No Caroline, I have a separate Umbrella policy for 2 Million bucks with USAA. This is the home owners insurance policy, under the LLC.

Quick example: Home appraised for 128K, The dwelling coverage is for 91K, loan amount was 83.000 but general liabilities 1 Mill. I have never seen such policy and I am a license insurance guy.

Policy breakdown:

Property: $91,000.00
Loss of Rent: $10,200.00
Contents Coverage: 0
Other Structures: $0.00
Liability: $1,000,000 occurrence
$2,000,000 aggregate

I have all lines in NC, Life, Health, Medicare and P&C. I know how to read these policies. The home was closed in an LLC therefore it confused me, I thought the dwelling should cover the appraised amount. I had this home insured with USAA prior and the had the dwelling 158Kt therefore I compared both and the LLC policy sticks up and down.

My Fico is always over 700 and this is not my first, second or third go around. I owned 8 Rental plus my primary. I have DTI issues but as of 2023 take year this should be resolved.

I been dealing with HML all my investment life, Some are decent and other are scam or have little money to invest and will squeeze every little pennies out of the borrower.