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9 December 2024 | 15 replies
If you don’t have the parcel’s block & lot #, you can use the street name & # to pull up public record docs including deeds, liens, violations, etc.
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9 December 2024 | 23 replies
.: In my (non lawyer) experience John is correct here.
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7 December 2024 | 15 replies
Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.
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9 December 2024 | 24 replies
Quote from @Jaycee Greene: If you go the conventional/DSCR route, these are considered "Commercial" loans and the properties are referred to as "Non Owner-Occupied" and, as such, the cash flow of the property is most important, and your DTI is not generally included in the underwriting.
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10 December 2024 | 11 replies
Its a tough subject because logically, they are joint and several guarantys so rationally a 100% guaranty from each of two people (one 740 one 680 for example) is ALWAYS going to be better than just one 100% guaranty from someone at 740 (so it wouldn't make sense to have a better rate for the latter)The problem is that there is fraud and "straw borrowers" out there where someone who is not involved in the property signs on to boost score and terms - so many DSCR Lenders in response either do the "non-rational" thing and price to the lower to avoid the fraud or use the higher of the two (and either be a little loose with things or just stay vigilant on any funny business)
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5 December 2024 | 34 replies
For SFH, I find it makes more sense if it's a location where Starlink is also best internet option.
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9 December 2024 | 8 replies
If you’re planning to pay cash for the rehab, make sure the lender provides non-dutch interest on the rehab portion so you only pay interest on the funds you actually draw, if any at all.Once the renovations are complete, you can do a cash-out refinance after 3 months of ownership.
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6 December 2024 | 15 replies
Nationwide sent a non-renewal letter for an 8-plex, claiming property was within 1 mile of a fire hazard zone.
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5 December 2024 | 13 replies
You will get to prorate the gain betweens periods of "qualified use" (as your primary) and "non-qualified use" (as investment).
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17 December 2024 | 36 replies
But i guess in today's world where things are on line and investors are used to Internet communications this is much easier than those days.