All Forum Posts by: Marquise Crampton

Thank you all for your responses. And yes @Richard C. I wanted to know more about financing a property under a LLC. I haven't found any reason to other than liability issues but as you said a LLC doesn't really change much when your the only member at least not in PA, if anything it seems to make things much harder since your limited in what kind of loan you can get. I guess I was really just looking for confirmation on what I've come to find.

Anyone want to share there experience and advice on putting properties in a LLC instead of personal name?

also if your not afraid of the inner city you can grab a home pretty cheap and fix it up with the right contractor, then you wont have much maintenance to worry about. good luck 

just to add on jonathan's reply. if that's the route your going to go. look into an fha loan. you would have to live there for at least a 1 year, but only putting 3.5% down on a property up to 4 units. that way you can live rent free or even pull in a couple extra dollars and save towards your next investment. 

Are you looking at any alternatives

Good Evening, I am a rather new investor currently closing my second deal. Im looking into ways to increase my buying power to a level lenders like to play at. I've been sniffing around the idea of using credit cards for purchase and then pulling out equity with "HELOC" anyone want to offer insight. If you could answer the following that would be greatly appreciated

-how to increase credit limits FAST!!!!

-cheapest way to use credit

-lenders (private or tradition) that lend or service HELOC at amounts under 50k

thanks in advance

Good Evening, I am a rather new investor currently closing my second deal. Im looking into ways to increase my buying power to a level lenders like to play at. I've been sniffing around the idea of using credit cards for purchase and then pulling out equity with "HELOC" anyone want to offer insight. If you could answer the following that would be greatly appreciated

-how to increase credit limits FAST!!!!

-cheapest way to use credit

-lenders (private or tradition) that lend or service HELOC at amounts under 50k

thanks in advance

@Karen Margrave thank you for your response 

. sorry it took so long to respond. My account had gotten suspend for accidentally posting the same discussion twice......anyway I've decide to make the purchase using  my 401kand the "refinance" out with the equity. Thanks again and if you have any pointers or things I should look out for or into ahead please let me know..

I would like some clarification on the topic of FHA loans. I currently have a property under a FHA loan and am looking to refinance out. I would like to know what cost can I look forward to and or fees. Also I was told that in pa a FHA has to be owner occupied for the life of the loan by a mortgage broker when I purchase. Was wondering if there where any investor mortgage broker who can shed some light. Thanks in advance

Hello. I am looking for insight on verbal contracts and how they may hold up in court. I am getting ready to purchase a home for an elderly lady. She is currently slowing her daughter an kids to live there and they pay the bills as they come. Mortgage, taxes, utilities, and maintenance. Now there was never any contracts made all just by verbal agree ment. And I'm not sure who's name the payments have been recorded under. The question I have is does the daughter have any legal rights as a normal tenant would. The reason being is she threatened the mother  to sue if she sold the house. Thanks in advance to anyone with insight