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17 January 2025 | 9 replies
HUD 4000.1 (I believe) is the latest HUD handbook and it goes over all requirements for originating the loan, including but not limited to occupancy requirements and exemptions.FHA occupancy : "At least one Borrower must occupy the Property within 60 Days of signing the security instrument and intend to continue occupancy for at least one year."
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9 January 2025 | 5 replies
It does not include the rent income, just the appreciation, it is about 11%.
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22 January 2025 | 21 replies
Loan from a Solo 401(k):If you have a Solo 401(k) instead of an IRA, you could borrow up to 50% of the account balance (up to $50,000).These funds can be used for a down payment, including on investment properties.
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20 January 2025 | 19 replies
If they were looking out for my best interest and knew that they tenant was moving out, they could have taken that opportunity to show me the unit.I had been told that Ready REI’s "contractors" had gone through the duplex including the occupied unit and deemed it move in ready, however the home had MANY issues, and the unit that the tenant moved out of was a complete dump that required a ton of work – much more work than Ready REI let on.
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17 January 2025 | 5 replies
You can't get "clear title" until all leans are cleared, whichever way that happens SOMETIMES, but not frequently, the 1st and 2nd will combine and both will be included in the auction.
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9 January 2025 | 4 replies
Reports came out that impact would be 7x that.
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13 January 2025 | 1 reply
Partner Driven covered 100% of the financing, including the $220,000 purchase price.
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15 January 2025 | 8 replies
It is an advanced technique that requires expertise and being well funded.Also, once someone has received a notice of foreclosure, it shows on his credit report as a foreclosure and you can Not save his credit by buying the house before the auction.
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8 January 2025 | 15 replies
Run the numbers as if you leased the property from him at 10% x the value of the home( not including 1,000 acres) in lease payments @60% occupancy.
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14 January 2025 | 7 replies
Most won't insure pools with diving boards or ones without a VGBA drain.2) Include the cost of a pool company to manage the pool in the rent.