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21 November 2024 | 6 replies
Bob went to the extreme extent of actually using an alias of Bob Stevens instead of using his real name, Bob Prisco.We do not need to re-litigate the facts of his behavior and all of the other inconsistencies in his communications.
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2 December 2024 | 34 replies
I’ll sell to anyone with the down payment but most people don’t seem to have it.I guess I’m different in that regard I usually ask for 10% down.Every house I have sold in need of repairs they have fixed upI ask them how much they did it for or how they did it, their cost is 25%-50% my cost because they get the labor part for free from their community or themselvesThey are more community oriented than us white folk and really lend a hand to each otherI guess where this may be predatory is offering extremely low down payments which would also open up the buyer pool
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22 November 2024 | 7 replies
Your boss seems to be extreme with this and won't change - unless you force it.Why don't you make a list of everything you do each for a week?
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21 November 2024 | 0 replies
You need to be extremely thorough with your scope of work, and unfortunately the sun porch was not salvageable, but fortunately the contractor helped knock it out of the park and the home looks amazing now!
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21 November 2024 | 16 replies
You can certainly buy the property in the name of the LLC but you'll have to use a DSCR product which will have an interest rate that's 1% higher than conventional.
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21 November 2024 | 10 replies
Another way is to switch your product from 30 year fixed to a 5/1 ARM so now you're taking program or financial risk to arrive at a lower rate such that you can pass this FHA SS rule (5/1 ARM FHA has a lower rate by up to .50% than the 30 year product typically).
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11 November 2024 | 2 replies
It's likely you will have to redo most of their work when you get it checked as you don't want an inferior product out there if you are selling or renting it.
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20 November 2024 | 6 replies
It depends on the lender but at a min they must follow TX SML or lending laws in the state in order to compliantly lend in TX, on whether choose to apply this guideline to all types of occupancies or transaction types (non owner investment, second homes/primary residences, etc)80-85LTV on rental properties is only on the purchase for fannie/freddie loans but on rate term refinances its max 80% and cash out max 75% for 1 unit and up to 70% for 2-4 unit cash out conventional.On HELOC's and rentals are up to 70-75% depending on the HELOC investor or product.Its good to distinguish between what the lenders are willing to do and for which product and also these loan products must abide my state law as well as an additiona layer of "overlays," on top as well (whichever is worst / most conservative).
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20 November 2024 | 25 replies
Quote from @Saint Kyle: Here's an examplelooking for rehab funding on a triplex in youngstown, oharv $130k rehab $70kdo you know of a bank that's willing to loan on a product like this?
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25 November 2024 | 19 replies
I don’t know why we didn’t get that vital piece of info in our initial meeting.So my wife and I are extremely relieved .She says she will stay on as a courtesy and if things come up it will just be an “ hourly “ rate for emergency type situations or basic boots on the ground necessities.We really like her enthusiasm and positivity and she is great at communicating and seems sincerely empathetic to our situation.