started the interest rate at 8.5% and wrote in the contract that their interest rate will change anytime my bank loan's changes (every 5 years) and will always remain 2.5 interest points above...for what it's worth...i have another under contract that hopefully will close soon..i'd be interested in hearing about this wally wrap as well bryan...what was that?

I ran my own custom proforma for a bank loan using the asking price that would generate a cap rate over 10% and CoC just under 20%.

It’s astounding how many fake documents are circulating today—you can find everything from fake references and stolen Social Security numbers to falsified income documents.To combat this, we rely on tools like Plaid, Verifast, and Snappt, which are excellent for verifying financial information and detecting fraudulent activity.

Once the rehab was done I refinanced out of the private loan into a conventional loan as a primary residence.

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

Quote from @Jarrod Ochsenbein: I purchased an existing Padsplit with a DSCR loan. 

My in-laws loaned us the total purchase price minus $5,000 on a 3% interest rate.

Get a 50% LTV loan and buy another property just like the one you own. 

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

@Jordyn Ohs pay off/down your Heloc aggressively and/or look into DSCR loans for future acquisitions.