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17 January 2025 | 9 replies
HUD 4000.1 (I believe) is the latest HUD handbook and it goes over all requirements for originating the loan, including but not limited to occupancy requirements and exemptions.FHA occupancy : "At least one Borrower must occupy the Property within 60 Days of signing the security instrument and intend to continue occupancy for at least one year."
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21 January 2025 | 8 replies
These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.
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17 January 2025 | 24 replies
We review yearly with our CPA who files the necessary forms.By law, IRAs require a custodian.
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14 January 2025 | 6 replies
2 are not cashflowing with the required expenses for vacancy at 10%, repairs at 10% and capital expenditures at 5%.
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19 January 2025 | 4 replies
Have a picture of your family actually installing a big fancy door.And of course, I assume that you are licensed/bonded/imsured as required by your local laws?
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14 January 2025 | 4 replies
The requirement to do this generally involves an experienced GC signing on the borrowing entity as a 20+% owner thus making them a signatory on the loan and responsible for the debt which in most cases is not very easy to find.
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20 January 2025 | 14 replies
Figure out market rents, deduct expenses to determine NOI, deduct cashflow you want, plug remainder into mortgage calc at current interest rate, then add lender's required down payment.That is how much you offer!
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22 January 2025 | 9 replies
Now, you can get some wholesalers but they usually don't know if the property will fit the requirements and regulations but you can learn that from the Realtor.
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15 January 2025 | 10 replies
Rent control measures, burdensome employment regulations, and excessive administrative requirements exemplify this.
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16 January 2025 | 7 replies
Maybe I’m wrong but I had to do that on our STR (Ring) and Wyze also requires close proximity on initial setup.