All Forum Posts by: James Mudd

@John H. ...yes, what you say above is true, However, you need to evaluate the property as if you are NOT moving into one side. The numbers have to make sense, unless you want to live their the rest of your life and just have a mortgage helper living next door.

@Joseph Weisenbloom ...BP meetup was rescheduled for this wednesday instead...just wanted to give you a heads up.

Congrats !!!...yes, share the numbers if you don't mind. The deal is done anyway :-)...it helps us all to learn.

@Andy Luick ...it's 3.5%...and you are going to be stuck with MIP for the entire loan. I would save 5% and go conventional and at least PMI will drop off at 78%.

...also, watch out on the FHA...the MIP (mortgage insurance protection) it stays on the loan forever, never drops off...that's going to effect your cash flow.

You need to speak with an investor savvy lender...you are talking to a robot in a cubicle at those big companies...find a local lender who knows the strategies.

maybe I was confused and they will consider investment accounts etc?

...hmmm, the last HML I talked to wanted 30k liquid.

...how much cash on hand are hard money lenders requiring, to do business with you..?

Just what I need...thanks @Paul Wurster ...!!!