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All Forum Posts by: Michael Cote

Michael Cote has started 15 posts and replied 22 times.

I'm looking for the best real estate investing website tools out there! Things like zillow.com, auction.com, realtor.com. And I just discovered dealcheck.com which is great! What are some other ones? Things such as credit checking tenant websites, property management websites, contract signing websites, etc...

Post: Are ARMs worth it right now?

Michael CotePosted
  • Norman, OK
  • Posts 22
  • Votes 1

With interest being at all-time lows right now, do ARMs make any sense? I'm about to buy a house and I'm torn between going with fixed versus adjustable. I'm in favor of the fixed mostly because of the consistency and how it hedges against the market slightly, but there are definitely perks on the adjustable side. Can anyone offer me some guidance? 

Post: Best Online Tools For Investing

Michael CotePosted
  • Norman, OK
  • Posts 22
  • Votes 1

I'm looking for the best real estate investing website tools out there! Things like zillow.com, auction.com, realtor.com. And I just discovered dealcheck.com which is great! What are some other ones? Things such as credit checking tenant websites, property management websites, contract signing websites, etc...

Post: Software/Web Tools to use for investing

Michael CotePosted
  • Norman, OK
  • Posts 22
  • Votes 1

What are some of the best software/web tools for real estate investors? 

Post: Investing in Oklahoma City

Michael CotePosted
  • Norman, OK
  • Posts 22
  • Votes 1

Does it make sense to buy my first primary home using an llc in Oklahoma? How difficult is it to set up and what are the benefits? I’m looking to be a buy and hold investor. Also, will it make buying more properties in the future harder?

So I’m buying a property from somebody off of zillow, and to be honest, I would like to ask the seller questions, but I’m not sure what the best route to do that is. So far I’ve just been using my agent to connect to their agent, who then tells the seller. Is there a better way to do this? Can I just call or text them? I’m not sure of the property etiquette here. I always hear of wholesalers talking directly through the owners by simply using zillow. How does one do this?

Post: How contingencies work

Michael CotePosted
  • Norman, OK
  • Posts 22
  • Votes 1

@Cody Lewis ehhhh but you still gotta pay the i inspection fees right?

Post: How contingencies work

Michael CotePosted
  • Norman, OK
  • Posts 22
  • Votes 1

If you have a contingency in your purchase contract that allows you to back out if you can’t get financing, can you just use that as an excuse to back out even if that’s bot really the reason you’re backing out? So you just found another property that you’re more interested in...how would they know if you’re telling the truth or not about failing to get financing?

I'm looking at purchasing a home before I go to school here in a few months. I currently work full time and can definitely afford to buy, but I'll be working much less once I'm actually in school. The thing is, it's not like I won't be making enough money once I'm in college to make the mortgage payments, as I'm a veteran and will be using my GI Bill to attend school. Essentially, I'll be getting paid about $1,300 a month just for attending school as a housing allowance from the military. Unfortunately, these payments don't count as qualifying income in the eyes of a lender. Unless I do a bank statement loan? Anyways, I'm trying to figure out how long of a window I have to buy the house. Do lenders check RIGHT before you close? Is it a month before? Any guestimate would really help me.

Post: Does a HELOC check everyone's credit on the title?

Michael CotePosted
  • Norman, OK
  • Posts 22
  • Votes 1

@Jason Wray @Tomas Rodriguesz okay so here's a more complex question: say you're on title for a $100,000 house, but not on the mortgage, and your other owner approves the heloc. How does the heloc lender determine how much the line of credit is for? On title you own 50% of the property, but you don't have anything to do with the mortgage or how far along it's paid off. So if the home is $100,000, and you own 50%, would they give you a heloc based on that 50% (50,000), or would they still somehow tie it to how far down the mortgage is paid off? I'm so confused.