All Forum Posts by: Edward P.

Thanks for the reply, Kevin. 

Yes, the property is an investment property. After the loan was executed 2 years ago I called the lender after the first payment to process a quitclaim deed and they did not approve. 

I understand conventional loans need to have a person as the principal not an LLC. Can the title be changed after the loan is processed? I am doing this for liability reasons.

Hi BP community,

I currently own property in my name and want to move it to a LLC, can I do this before I would want to refi?

If you know the best practices in California as my previous broker said a quitclaim would be fine, after a call to the lender they will not accept a quitclaim deed obviously. Thanks in advance. Do you put one location in one LLC?

Hi @Gabriel Amedee

Thank you but it only shows for owner occupied where can I find it for investment purposes?

@Harjeet Bhatti Where can I get a idea of the rates?

Thanks!

Thanks @Dave Foster

Hi @Gabriel Amedee

Thank you but it only shows for owner-occupied where can I find it for investment purposes?

Hi BP,

Where can I find the rate for today for personal and investment?

I have searched on the internet and I can not get a good answer. Thank you.

Hi BP,

I had an exchange a few years ago under a clients personal name. They wanted to change to an LLC how is this process handled, who would I need to speak to? Can I write a quitclaim form?

Thanks!

Hi @Brent Coombs

Thanks for getting back to me so quickly. 

I am going to spend more time understanding HML as I do not understand them fully yet.

Thanks for your response guys!

@Scott Innocente The problem with Refi is I would have to pay points, closing costs and other fees(potentially). Ultimately I would like to use this money to purchase another home. Can I get an appraisal and then get a Refi? Also, from the process you are recommending how long do you suggest I wait to make each change(refinance the house at a higher value, pull your money out, then set up the mortgage as a HELOC which you can draw from as principal is paid down.)?

@Brent Coombs I completely understand the consequences of averaging the income and expenses because we will be using the money from one property or the next. Do you recommend any other processes which you have worked on yourself? I spoke to an HM lender and she wanted to be first and wants 7-8%, no early payment fees. Which I have heard HM loans are better for a quick buy, fix and flip not the traditional buy and hold strategy.