All Forum Posts by: Neil Aggarwal

I have a real estate license so I can do everything myself without being dependent on another person.  It's a lot more convenient to not be dependent on another person.

I do not believe there is any negative about placing an offer and disclosing your license status.  Its so common now that nobody cares about it.

I think any loan will work for you.  The only thing you have to be aware of would be pre-payment penalties but those tend to disappear after a year or two.

I always hate the term "hot market".  It take time to put a deal together and far too often people shortcut their due diligence because they feel its a "hot market". If a deal is on the up-and-up, you should have the time to do your diligence.  If not, the seller is playing games.

The best way to figure out the market is to talk to all the hard money lenders you can find in your area and see what they are offering.  There are going to be differences and one might be a better fit that the others.

As long as it is not a homeowner loan, you can negotiate a fee for helping an investor procure a loan.

Talk to them honestly and let them know there is not the right click.  If they are a person of integrity, they will respect that and you can part on friendly terms.

You should check if the property taxes are current on the property.  You can do that via the public records at the county.  If the taxes are not current, you might have a motivated seller which helps your negotiating position.

As Jason mentioned, you have to get in touch with the owner and see if they would like to sell.

Once you get below 80% LTV, you should be able to remove the MIP.

Once you have that, you have to check your current rate against what you can get.  You also have to look into the transaction costs and how long you are going to hold the property.  It will generally make no sense to pay a bunch of closing costs to get a small change in your rate.  The difference has to be significant.

If you want to keep the same number of payments, why are you looking to refinance? Do you want to try to get a lower interest rate?

I think you are going to find it is hard to manage a property that is 300 miles away.