All Forum Posts by: Des Shei

All are saying the same thing; i.e- Read up on the 50% and 2% rules ( or guideline) as i call them. Using these guidelines, and assuming you have a solid lead should make it easier for you to find an end buyer.

I have rentals in CT. it is possibly to cash flow. I also hold my R.E license so that helps. You know the saying. Location is key. Some research will yield the answers.

What Bryan says is what you should be looking to do; ie a cash out refi and these days you can pull out up to 70% depending on the banking institution.

I'll dig it up but i believe it was Bank of New England in Milford and the gentleman's name is Cliff.

i found it very odd myself. he made it seems like this was a new reg; based on the fact that i closed in february i can't close another till may...very strange. i've closed another deal with him in the past but i think i'll shop around.

John,
we should network sometime and get a comprehensive list of investor friendly banks. I have a guy out of milford that has no problems doing refis as well, cash out or rate/term.

My broker informed me today that i have to wait 90 days from the date of last purchase to pick up another conventional mtg. has any one heard of this new requirement?? i swear the regulations that are coming out these days make absolutely no sense. :nono:

Your broker is right. Having your license will have some limits to how creative you can get with your R.E investment business. I have my license as well and definitely enjoy the savings on the buy and sell sides.

maybe she went CHFA based on the loan amount. most banks won't loan if the amount is too low as it may not be worth it for the time and effort. i ran into this a while back as well with a property.

YOu live and you learn. as long as it's not too costly and they don't leave the house very trashed.