All Forum Posts by: Kelly Beck

Did you end up using First Savings? And what is there LTV? We're looking for one that does 90%. Thanks!

Anyone invest in the Meridian area? We're looking to branch out there for low-cost owner financing properties (offering financing for those renting). I understand there is crime there, just like many low-cost areas, but I reached out to a rehabber about taking some photos of properties for us and he told me to look in other areas because of the high crime rate and that "it just keeps getting worse." 

Is it really that bad there? Anyone with actual familiarity of the area is appreciated. Thanks!

Lots of good thought there, thanks!

 Is the wiring instant and is there a charge? Right now we're using a local credit union and every time I need to do a wire transfer I have to go into the branch location. Thanks!

How would I determine if a county/state was landlord or tenant-friendly? Or what jurisdiction would I be looking under, ie. state, county, township? I want to make sure the eviction process would favor the property owner and be quick for land contract/contract-owner transactions and not be looked upon as a foreclosure. I have no idea how to go about determining this.

Thanks!

This company calls it “capital stacking” but I have since found out that they’re calling it the wrong thing…credit or card stacking is what it is. So…my question would now be about the 9.9% fee for credit stacking…but I wouldn’t see why we couldn’t just do it on our own. It’s basically applying for several business credit cards with 0% interest until we have the amount we need.

I know this is an old post, but Kenneth and Audrey....I'd love to know how you solved this problem. We're looking to get started using land contracts vs. owner financing properties and I'd like to know what steps we'd need to go through for the eviction...or or a judge would determine the land contract to be an "installment sales". If so, I'm assuming we'd have to then go through the foreclosure process, which is what we want to avoid. Thanks.

We are looking at possibly using capital stacking to fund holding costs and a light rehab for a sub to property we own. We were referred to a company who does capital stacking. Their fee is 9.9% of the total amount we use (for this property we only need $30K so the fee would be about $3K, with typically 0% 12 month term, payments at 1%).

Is this typical? I'm having a hard time finding typical fees for this type of funding. Thanks for any insight...we have used a PML in the past but his return request has become something we just won't pay, so this is our first time looking for an alternative.