All Forum Posts by: Mason V.

howdy! Do we have any Canadian podcasts? We need some.

To my understanding being overleveraged is having more debt than you can payoff. This, however, cannot be right sense simply getting one mortgage would make the vast majority of people overleveraged. Therefore it must be that being over leveraged involves more than just debt. I just don’t know what it is.Would buying a new rental/starting a new rehab positively or negatively affect your leverage?

I have no problem with taking risks, but i like to do what i can to minimize the damage from my eventual screw ups.

ive got 2 properties I am looking at both with very motivated sellers, divorce and over worked land lord. I should know soon if I get my FHA loan, but if I don't I will be trying creative financing. Question is though, if I do partial seller financing, small down payment+monthly cash flow for several years, how exactly is the agent's pay factored in? Is he paid a percent is the down payment or the overall price? Are there circumstance where he would not get paid for his work and thus be less inclined to bring me deals?

so instead of sleeping my mind has been wandering off..... One of its directions, and it could do worse, was real estate. The question stated in the subject is one of the areas my mind considered....in particular the question is in relation to purchasing a buy and hold property via hard money or private money with the intent of refinancing.....my train of thought, and it is likely wrong, is that sense most traditional mortgages require 20% down, it is in your best interest to rehab the property to at least 125% of the original purchase price. Thus an home you bought at $80k would need an arv of at least $100k. This brings me to the question within the subject line, on average, what would need to be done to force the home's appreciation up 25%? I assume more than just paint and carpet. Turning part of a garage into a master bedroom? Adding an enclosed deck? New siding?..... To narrow things down, as much as possiable without knowing market spacifics, assume your property is an $80k SFH that is 3bed1bath and around 1500sqft with a large yard and attached garage. What would you rehabers do to force the appreciation?..... (Sorry for the sets of [.....] But my Motorola G won't do paragraphs. Also hope I made this clear enough.)

not looking for anything yet. Was just a question I thought up whial driving.

You intend to get a portfolio loan from either a local credit union or a small bank.

Who exactly should you ask for, the average lending agent or do you want to talk to the branch manager?

Should you do this as a casual walk in sort of situation or would it be best to call and set up a more professional business meeting?

Would it make a difference if you go in as an individual asking for money or as someone representing an existing/starting business?

Is a business plan with income projections and potential properties necessary or just advised?

This question comes from looking into the available multifamily properties in my area. The properties are available, yet all the units are rented.  What do you do if you want the properties? Do you throw people out? Can you throw people out (I cant imagine the Oregon government allowing this)? Do you resort to creative financing in order to keep all renters? How would you more experienced people proceed?

I think it all depends on how much the economy improves. I suspect another dip and can't imagine too many in my generation being able to buy homes within the  next 5 years at least.  I am very pessimistic and don't see the next 10 years going over well economically. That's why I am investing. Got lots of silver coins, looking to buy some gold and I WILL HAVE MY FIRST PROPERTY BY THE END OF APRIL!

I finally started the process and am working with a mortgage broker. With my current income level we are trying to get me a FHA loan for $125k. We tried going through the USDA but due to having been driving a semi only 19 months I don't have the required work history. I may still have the same problem with the FHA but the broker says he has seen it work before. So, should I just wait on the FHA loan or should I start looking for other ways to fund my deals?

Thank you very much for the reply.