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9 December 2024 | 20 replies
If you can't get a bank to lend you money on a property, that might be a sign.
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28 November 2024 | 10 replies
It seems like a good strategy but would appreciate any advice and if anyone worked with banks/lenders that provide a service like that.Thank you in advance!
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28 November 2024 | 15 replies
Go to your bank and they can provide you with instructions.
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1 December 2024 | 9 replies
I am not sure the Tenant is so friendly, my property manager deals with them.If you have a PM, they should answer this question for you and handle the process.You should notify the PM and update your PM Agreement, W-9, banking information, etc.
2 December 2024 | 10 replies
Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.
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21 November 2024 | 2 replies
Will it immediately move to full transaction price, or does this jurisdiction use some sort of flat percentage increase.You should know how frequently the property will be reassessed thereafter.
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29 November 2024 | 1 reply
Insurance, bank accounts, credit cards, etc.You are probably making your life more complicated and expensive than it needs to be.
27 November 2024 | 10 replies
Bank with a 25% downpayment?
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27 November 2024 | 8 replies
Did they have bank statements showing utility payments for the rentals?