All Forum Posts by: Charlie Fitzgerald

Talk to an asset protection attorney firm .  If you need a referral to one, let me know by pm

I would get the equity out of there and have it parked somewhere liquid and available to invest or even to save.  The last place I leave equity is in the house that has it.

You will have issues with a conventional loan due to the non-permitted conversion (s).  You may have issues with a commercial loan due to the zoning (now no longer applicable due to the updates) which leaves you open to code enforcement requirements that you definitely want to check into BEFORE you buy this asset.

Because you have an unending stream of tenant prospects and the Base Housing Office assists you with a lot of the issues that come up for most landlords.  

If you know what your FICO scores are, tell whomever you want to rates/terms/fees shop with that you do not want your credit pulled and that they may use XXX as your Mid FICO for purposes of providing you an LE (Loan Estimate) with their best offer for a loan that meets your particular needs.  

Your other option is to work with a Mortgage Broker who can take your complete application, pull your credit, and then shop your file to all lenders they have a broker agreement with.

Are all your properties in St. Louis, MO?

I would donate 10% to my favorite charity/church.

I would pay off any personal debt that I had

I would add to my emergency fund to have a minimum of 8-10 months reserves 

The remainder would then give me my foundation for determining which direction to invest and I would prepare a shortlist of my Top 3 prospective investments and then research each of them and their attributes and pick the one (s) that meet my defined goals the best.

I read it as the OP is providing the capital.

Correct.  But if a lender is going to deploy capital, they have to get a lender license - DBO or CFL and hire originators.

You are on a slippery slope here regulations wise.  A lender needs a license in CA, not a "designated broker".