All Forum Posts by: Charlie Fitzgerald

@Mike Lambert  Sent

I agree with that completely.  The best time to get your equity out of your assets is at or near the peak of your market cycle.  Even if you put it in your sock drawer while waiting to re-deploy it into additional assets, it's better than leaving it in the asset that has it and trying to time it's coming out prior to the next downturn.

I sent you a PM

We fund $40,000,000-$50,000,000 a month in 10 states and have never collected an application fee from a borrower.  I would never recommend a borrower to pay an application fee to anyone at anytime.

I would agree, if they can get it done.

If I were you, I'd get an attorney involved real quick.

You can also condition your offer and purchase to have the. Seller deluvervthe property with the 1 unit vacant .  This would be better.

I can help with this gif the initial acquisition of all 3 assets on 1 loan.  Then you can take me out by refinancing the mortgage with a commercial bank at some point.  

Get an Attorney

My presumption is that he has a bonafide reason for needing the the 2nd residence ...if the actual intent is to simply acquire an additional investment property with owner occupied rates and terms, then it is mortgage fraud.