All Forum Posts by: John Troise

Andy D. Thank you Andy. Advice well taken!

@Jared Bouzek I am really not sure. However, I do think there is some lack of communication between the firm I originally applied with and the actual mortgage processor. I say that because of the paperwork I am being asked for. I keep good records and several of the items I have sent are being asked for again by the actual mortgage processor. And.....from previous experience, I know what's coming. I will be asked for more and more paperwork to go to "underwriting." This process never seems to improve!

Jared Bouzek thanks Jared for your response. I want to believe I'm doing my due diligence. I always question lenders about doing business with "investors." They can tell you what you want to hear, but the truth seems to come out after the fact. I never chase interest rates! I try to look at the big picture, taking everything in to account. I believe there was an overlap in the credit pulls, so now I'm being asked to explain the last 120 days. Overall, I've lost about 50 points, and I do have credit monitoring. Oh well, I can't really see how the regs. have eased since the 2008 debacle!

Kevin Siedlecki thanks Kevin for your response. Maybe I'm just looking for the process to be more streamlined. However, these last couple of credit pulls dropped me about 50 points. I do have credit monitoring. I guess it's the nature of the beast...which seems to be untamed! LOL

Thanks Shawn for your vote of confidence! Much Appreciated.

Does anyone share the frustrating, extremely challenging, deplorable, never-ending paperwork requirements, over the top digging - into your personal finances, just basically a harrowing, disgusting experience of trying to do a simple refinance.....all this for a paltry 130,000, for two properties. To boot, I'm on my second lender. This has been going on for six months. Needless to say, our credit scores are destroyed. (Started around 800) I know this forum is supposed to encourage real estate investment, but I am totally, mentally "DRAINED." I do read where many investors are doing all these deals. Those with cash - God Bless You! I'm sure many do hard or private money. That's OK for the short term, but those 10% and 12% rates really dig into your cap rates, which completely go against the grain of why you invest in real estate! What am I missing? Constructive feedback really, really appreciated! Thanks

Stephen Anderson Hi Steve, What is your view of purchasing an investment property near the Disney resorts. Is there a pretty good market for this?

Federico Gutierrez judging from your post, are your properties in solid class B areas? Thanks

Thanks Arden. Can you please share a few incidentals and requirements. For example, docs., amount of financing available, interest rate, term etc. Thanks

Looking to refinance a duplex and a SFR in Ohio. Can someone recommend an investor friendly institution? Thanks