All Forum Posts by: Matt Goldstein

Sorry I don’t know what MLO or BOA are?

is that money lending officer and Bank of America?

@Harjeet Bhatti would you recommend going with Bank of America or a local mortgage lender in North Carolina?

I am self employed and moving to a new state and the banks are telling me that they will need a ton of paperwork or that they just can not even lend to me being self employed. Even though my business does not require me to stay in one place and I have been in business for 18 years.

Are there other options with reasonable rates - like 4-5% or less?

I am a new investor.

I am considering getting this software but don’t want to get scammed.

Has anyone used www.flipstersoftware.com

If so would you recommend it or stay away and why?

I am a new investor and have come across a few properties on the mls that seem like they might work numbers wise, but then i notice they are in a flood zone.

Would you ever BRRRR a house in a flood zone? Why or Why Not?

@Steven Griffith yes thank you. You mentioned 2.5% and 90% Ltv do you have people or places you recommend to try to get these rates?

I moved into a brand new home in November of 2019. I bought at $238,400.

I have decided to start investing and am planning on moving to North Carolina in the next few months.

My current mortgage is at 4.375 and with taxes and insurance, I am paying $1547.75 a month.

I currently owe $185,000 on the loan.

My question is, am I better off waiting until I am moving, probably in March and sell for between $250-270K or am I better refinancing at 2.75% which will bring my monthly to around $1250 a month and renting? Rentals for 5 bedroom 3 bath in my area are around $1900-$2,000 a month.

@Marcus Auerbach

Newbie question here. Is there an advantage to doing Brrrr vs financing at 10% if you are leaving 10% in the property anyway?

And how long before you can refinance yourself money back out of a brrrr?

Thanks