All Forum Posts by: Ryan Taylor

Ok...

Question for yall...when calculating net worth...is that all assets (rental prop, primary prop, retirement accounts, cars, classic cars, etc) value minus what is owed...i am thinking about this correctly yeah??

Quote from @Nathan Gesner:

Quote from @Ryan Taylor:

Sure. They could sign a document saying they give up their right to fight eviction, but then they could ignore it like they do every other clause in the lease. Just because you sign something doesn't mean it is legal, and nothing prevents the tenant from ignoring the clause and fighting you.

I guess that's with everything though isn't it...lol
Thanks for the input Nathan👍

So to expand on the question...hypothetically...you have a 5/3 for rent...your tenants consist of 2 adults and 2 children....they sign the lease agreement...THEN...move in 2 (or more) adults...can you have verbiage in the lease agreement that the rent would then increase a set amount if other occupants (adults) move in...providing they pass the credit/background checks...

If a rental/lease contract is a legally binding document...enforced by collecting rent...or enforced by an eviction process if rent is not paid....then can there not be a document (legally binding) for a tenant to sign that would relinquish their rights as a squatter or due process of eviction...(that CA so ignorantly enforces)...

Not sure if any of that makes since...it's was just a thought...what are yours 

Quote from @Mohammed Rahman:

Hey @Ryan Taylor - based on what you're trying to say, I'm guessing you mean to ask if there's a difference between rates of a loan broker vs. direct lender? 

I've never heard of the term CFL before, can you elaborate? 

Based on my experience, there won't be that big of a difference in rates unless your broker has access to lenders' new programs that may offer discounted rates for specific borrower backgrounds. For example, one broker my clients have worked with in the past let us know that because they were medical professionals, they could qualify for a niche program at a local bank (with lower rate and down payment). 

It just boils down to access to information. Most rate comparisons are pretty similar. 

"I've never heard of the term CFL before, can you elaborate?"
Thank you for your insight Mohammed...CFL meaning California Lending Law, based on my research...I guess it's a CA thing...
The Department of Financial Protection and Innovation (DFPI) formerly the Department of Business Oversight (DBO) offers two different types of mortgage company licenses, the California Financing Law License (CFL) and the California Residential Mortgage Lender License (CRML).Sep 1, 2022...
So I guess my original question is if there was a significant difference in rates between the two...but you provided much clarification...thank you.

Quote from @Ned Carey:

@Ryan Taylor rates between similar lenders will not vary much. If there is a big difference. There can be big differences between types of lenders. Hard money lenders are generally much more expensive that traditional banks and lenders for example.

Thank you for that Ned...I know that Hard Money would be much more than the standard conventional rates...so I guess the better question would be...wholesale vs. retail rates...or is there a difference...

Quote from @Jevon Shaw:

If I understand what you're saying correctly, you shouldn't see much difference unless there are special circumstances

Excellent...thank you for that Jevon 

Quote from @Scott E.:

Please rewrite post but in English :)

Thanks for your comment Scott E. Super intuitive 👏👏👏👏
I figured with your level of intellect...you could decipher my hieroglyphics

So... a CFL being a Mortgage Banker offering the rates of that specific bank...and a Mortgage Broker being someone that shops for the best rate...that being said...if I am correct...what has been the difference in percentage you have seen being offered on a 80% LTV 800 FICO...A+ borrower

.250, .375, .875

Straight to the point...HELOC on my primary...want to use some of it to purchase a new primary...I have not drawn any of the funds and deposited in my bank account...my question is...can I not use these "untapped" funds available to me through my HELOC because they are not seasoned in my bank account...