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21 January 2025 | 19 replies
Again, knowing nothing about this particular company, my bet is that type of company will require money up front just to consider whether they can help you out.
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23 January 2025 | 10 replies
Avoid PMI and then go to a local credit union and get a heloc after closing to gift the money back.Have this as a tool in your tool belt but pursue use of the 3.5% FHA, knowing that you will be at a competitive disadvantage if you are competing with non FHA buyers, then you can call in the favor from your gift person.Just know that if someone gifts you down payment money, your bank will require them to sign a letter stating that it is in fact a gift that doesn’t need to be paid back.
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17 January 2025 | 19 replies
@Brady Bitter these funds have margin requirements.
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23 January 2025 | 165 replies
That's a fundamental requirement.
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14 January 2025 | 18 replies
I'm guessing though that since the IRA owner isn't allowed to take out a salary, perhaps the SDIRA LLC will be required to hire employees?
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22 January 2025 | 22 replies
If any of the proceeds touch the sellers hand the IRS sees it as taking profit and you will have to pay taxes on that portion.Net proceeds - Is the net sale, minus any Equity in home being sold.I find a lot of investors who want to purchase less than their reinvestment requirements will do the calculation to see what their tax burden would be if they purchase less than they sell.
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1 February 2025 | 9 replies
So its like im enforcing it as a practice.The 70% rule, from my understanding, comes from the lenders underwriting requirement.
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15 January 2025 | 11 replies
Most lenders who order appraisals are required to order them through a 3rd party AMC, which can add additional costs to the appraisal but ensures that there is no lender (Or borrower) bias in regards to the values.
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14 January 2025 | 2 replies
NH requires a 30 day notice.
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22 January 2025 | 14 replies
On the buildings that require plowing, we have a great vendor who charges far less than what you are paying.