
14 September 2024 | 20 replies
Quote from @Ben Scott: Make sure to close the transaction at a title company and have the deed and title put into your name.

18 September 2024 | 15 replies
Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

15 September 2024 | 13 replies
I bought the house in June (titled it to my corp), and am preparing it for Section 8 occupancy as of October 1.

20 September 2024 | 73 replies
Had you ever heard of title agents and escrow agents before selling?

15 September 2024 | 0 replies
According to this NYT article "It can cost as much as $10.5 million for a title-contending starting offense and defense in the new Power Four conferences."
14 September 2024 | 4 replies
I tried correcting the mispellings in the title but it created a whole new post!

14 September 2024 | 6 replies
If it is you and your husband buying the house, then only your names should be on title.

14 September 2024 | 11 replies
Contact the Tax Claim Bureau and ask if the Pa lien is on their title search, if not provide them with the evidence so they can pay it off.
14 September 2024 | 2 replies
Then transfer the title to the LLC. but I would consult with someone who has done this process.

13 September 2024 | 7 replies
A reverse exchange is where the intermediary creates an entity to take title of your replacement property before you close on your relinquished property.