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16 September 2024 | 2 replies
It would be considered mortgage fraud to not list the seller financing debt on any type of application.The only “creative” way possibly is if you have a spouse then you separate the debt so maybe one of you has debt on a property (that you co-own) and the other does notFor example my home I own with my wife but I am not on the mortgage only she is.
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15 September 2024 | 12 replies
See what I did:)I would make sure my investment business was separate from my personal business.
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16 September 2024 | 16 replies
No, two separate companies.
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18 September 2024 | 47 replies
Maybe I didn't explain it well in my initial post, but without my knowledge, the tenant assigned her security deposit rights only to the attorney who created a separate LLC.
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12 September 2024 | 23 replies
Robots catching robots.
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19 September 2024 | 34 replies
He was never even a good salesperson (pushy sales tactics are often taught by gurus but simply don't work for most personalities, Jordan Belfort of all people called him out on this during an interview that was very revealing), and his real estate syndication funds are now rumored to be total scams (he allegedly buys the properties separately beforehand then marks them up millions before selling them to his fund using his investor's money, like a wholesaler basically but taking $50M fees from investors without disclosing it.
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16 September 2024 | 8 replies
OR you'd have to do 2 separate transactions and incur 2 sets of closing costs/ transactional costs. i dont think its a bad play, a lot of people leverage one to help them expand to the next. another challenge you will have, though, is pulling something small like $50k out. most lenders rn have a $100k min. you might be able to find less but then fees/ points will be a little excessive.
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15 September 2024 | 11 replies
You do not need to have the property in your personal name, it can be owned by an LLC you're sole owner of without having to file a separate tax return.
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14 September 2024 | 10 replies
That consists of buying a single family home with some form of separate living space to rent out as a STR and help offset living expenses.The DownsideLenders Calculate STR/MTR Rental Income Differently- From a lender's perspective, any rental income received on a term less than 12 months is NOT calculated the same way a traditional long term rental is.
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15 September 2024 | 4 replies
This could be a way to guarantee a steady stream of income while still working on higher-margin deals separately.