All Forum Posts by: Lisa Sluss

 I don’t have a loan.  I’m just slowly bleeding out financially, so I need about $50k to knock it out.

Is there a way to reply to each person here without quoting?

Thank you, Michael

I am finishing a flip which I own outright - have the deed in hand. Why am I having such a difficult time finding a lender who will help see me through the end of my flip? They all want tax returns, income info., etc.  It seems like having a lender hold onto my deed while I finish my project is the safest form of lending there is.

I am finishing a flip which I own outright - have the deed in hand.  Why am I having such a difficult time finding a lender who will help see me through the end of my flip?  They all want tax returns, income info.  It seems like holding onto my deed while I finish my project is the safest form of lending there is.

Hello,

I would appreciate your input on how to allocate some cash.

First, let me preface this by saying I don’t qualify for a mortgage - my debt-to-income ratio is too high.  It’s over 50%.  So, let’s not bring a mortgage into this.

I’m trying to choose between three scenarios in which to allocate $360k cash:

1) buy a personal residence for $180k cash and use the remainder to flip a house.(living for “free”)

2) rent an apartment and invest the entire $360k in a couple of flips.

3) rent an apartment, buy a rental unit, and spend the remainder on a flip. (rental unit would earn me $1,200 per month)

My apartment rent would be approximately $1700 per month.

Thank you in advance!

Lisa

I recently paid cash (160k) for a rental.  I’ve since decided that I’d like to tap into the equity.  50% or more.  I don’t qualify bc I’m not currently working.  I lived off rental income until March, when I sold the place. I’d like to find a non-qualifying mortgage lender who serves Georgia, but I can’t seem to find one that is truly “no documentation” needed.  I’m not interested in hard money lenders.  I welcome all suggestions.  Thank you.

Perhaps I spoke before doing the necessary research.  I’ll ask my new broken when we meet.  This is one of the national agencies that does most of their business online.  I can’t say the name but I’ll just say it starts with an “R”. Showing agents make only $30 per house. I have rental income, so I’m not going to starve. Like I said, I’m just getting my feet wet.

Jonathan,

Maybe the clause I read regarding selling real estate on the side doesn’t apply to personal property. 

Showing agents are provided with customer contact info by the broker - customers who already have a list of properties they are interested in viewing. I schedule time/s to show them the properties. When/if they find a house they are interested in, the buyer’s agent takes over and does the negotiating and closing. I’ve been an agent for less than a year. I’ve been unsuccessful thus far in finding a single lead.  When I learned about the position of showing agent, I thought it would be a great way to ease into my career....build some confidence. I just accepted the position today, so I have no idea what to expect.

Eric,

Brilliant - thank you!