All Forum Posts by: Kathie Riedel

Is anyone aware of a means of filing IRS form 1098 electronically as a lender?

@Jeremiah Cotner I lived in Sheridan about 15 years ago and found as a yankee/single woman I felt rather ostracized. As a couple and with the passage of 15 years you should do fine. I had a few friends in White Hall and they loved the area. I can recommend a realtor in Pine Bluff as I have a 12 unit apartment complex there. I do agree with  @Casey Reep that the crime in PB is worrisome.

BTW We have an investor's meetup group in Hot Springs if you can make it over here.

@Joe T. Still sounds too good to me.  As @Stephanie Medellin said do not pay any upfront fees except possibly an appraisal. Put the deal in a Title Company that is recommended by people other than the lender. Hire an attorney to review the note and mortgage.  You can't be too cautious with this lender.

Too good to be true. Leave it alone or thoroughly vet this lender. It might even be worth a trip to meet him/her in person.

@Sarah Melton Suggest looking for small local banks, credit unions, private money and as a last resort hard money. Network and persist. If it is a good deal you will find a lender.

Why are you having a hard time getting a loan from a bank? If you have nothing to bring to the deal other than desire I would reconsider getting into real estate or at lease waiting until you have money or skills that would warrant such a move.

@Tab Teehee  Suggest a top notch general contractor. It will cost but as we know time is money.

@Davere Currie Working for a property management company gives you a great opportunity to see the advantages and disadvantages of rentals and a potential source of deals. Network to find people who will be interested in multiunit housing and watch for any properties that you manage for signs the owner may be ready to get out of renting. You may be able to put two people together for a win win deal. Just one way to start but it is an advantage over those who are not in the business in any way.

@Thomas Jacobsen In addition to an accurate evaluation have an exit plan if you have to foreclose.

Be sure you have a clear title before releasing any funds. Expect your lawyer will advise similarly.