All Forum Posts by: Jay Mersfelder

@Abby Weinstock

Thanks talk to them and ask what they need and I reached out to person sold the truck to and just so happen he had my old registration and done had title back with his name on it. So took pictures for the lender and all of happy now lol

@Abby Weinstock

I've only had written receipt and where I cancelled insurance and the marketplace add where I posted it and even ask the messages where we message and lender said can't use must of that not sure what else to do

@Matthew Crivelli

2 months at first they said needed reserves so sold old work truck for reserves and we did appraisal on house just rehabbed and have new tenants in it appraisal went really good and now another snag they say there trying to come up with something but I'm way just wish I would of went with different lender. This is my first Brrrr and with interest rates raising not sure if I'll seek another lender.

@Abby Weinstock just have a written receipt that I wrote to the guy when he paid for the truck and I also have the market place ad where I posted the truck and all the messages that we communicated back and forth on the day he bought the truck and the $3,000 deposit was deposited like the next day of the sale of the truck so the date should all add up I just don't understand

@Nick C. Yeah just sucks sense the rates are locked in at 5.6 percent and am so far along with the process and now this seems to be the problem me selling cheap old work truck. I've read the Patriot act of 2001 and it seems like it has no bearings on this issue to me it seems like it's more of a terrorist and fraud thing than anything just can't wrap my mind around how I can affect me selling my truck LOL

In middle of refinancing out on my rental property and lender is questioning a deposit of 3,000 from old work truck that I sold for cash. I've sent bill of sale and insurance being cancelled on the truck and even Screenshoted the market place add with the texted from person that bought the truck.. My lender keeps mentioning some Patriot act 2001. Just wondering if anyone else has had this problem before.

@Craig McLaughlin that's fair rates going to try and get ball rolling and see if I can get something like that locked in for refi cash out. Like to have money to start looking for another property goal is to purchase one property a year for while.. Thinks for sharing and good luck with your investments

@Brad Jacobson I totally agree with everything you said I guess that's why I've been a little hesitant but now I'm just trying to find a lender with the best rates and I'm going to go ahead and refinance out so I can try to scale you purchase another one and repeat the process any good conventional lenders would be appreciate it thanks for all the words and advice

@Ned Carey I agree rates are still at historic lows.. But I've been getting quotes for like little over 6% done to my credit score being done 700.. Want to finance out property that just did full rehab on and then repeat the process again.. Haven't been able to pick up much traction to scale hoping once I can refinance property I can gain some momentum.. Not under LLC just have umbrella insurance so private lender is out of the question I'm trying to go conventional route any advice or tips would be appreciated thanks

What are the rates people are getting to refinance out on there rental properties, and how are you using? I'm wanting to refinance out on first rental but haven't found any decent rates..