All Forum Posts by: Jason Smith

@Gaudys Rivas Just seeing this post. Did you end up using Residential Capital? If so what was your experience with them? I am talking with them. They came highly recommended to me from an experienced investor

@Jacoby Atako

Thanks for the info. I am emailing with a lender that says he is with Funding Stone. But was not sure if he is legit. Seems to good to be true. 

This is 1 of their steps: 

You will get direct deposit funding within 2 days after approval signing of the loan contract agreement and payment of your loan charges, typically all process takes 2-4 business days from start to finish.

Do Lenders usually ask for loan charges up front, before funding the loan?

Conventional loan 

@Guifre Mora I didn’t put management fee because I Plano now managing the property myself. Also, I have low closing costs because the current owner is a relative of mine so we would not be using agents or anything just switching title over. 
as for the 3% down payment. If I am purchasing at a lower price with equity in the house I could get a lower down payment. But I get that some numbers aren’t adding up. Thank you for the reply

Thanks for the reply @Tim Herman. I guess I’m just trying to make it work when the numbers aren’t there. If I could get a lower purchase price it would work. It’s a really nice property, but if the numbers don’t add up...

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*This link comes directly from our calculators, based on information input by the member who posted.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Bryan, Looks like you should try a new realtor. I can give you information for the one I use she is awesome and I use her for all of my flips. Her rates are unbeatable also.

Thanks for the reply. Not trying to commit any from here. Just curious if there’s anyway around it

I am really wanting to use my VA loan to buy a rental property. I already have a personal home I live in with my wife and two kids. Is there anyway of getting around "having to live in the home for one year" rule. Or any good hacks. Do they actually check that you are living there. Any strategies or ideas would help unless they are 100 % firm on this rule

Thanks in advance