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13 February 2025 | 5 replies
I want to do a bank statement loan(I'm an independent contractor)with just me on the new loan in Texas .
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16 February 2025 | 44 replies
Because you own an interest in the property, can you short sale it to another LLC, through working with the bank?
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24 February 2025 | 2 replies
I'd definitely connect.Otherwise, your best bet might be a local or regional bank
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18 February 2025 | 9 replies
@Jefferson Black- thanks - I am not aware of any lender that will do a loan on an INV manuf home property ...you might contact the local small to mid size credit unions and banks in your area ...you also might try the bank that you have funds deposited at - good luck
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14 February 2025 | 4 replies
I am not able to determine your purpose in posting this, since you did not also offer solutions for the seller or for the investor.The situation does not unfold when the homeowner receives a solicitation, as the article mentions...it begins when they are late paying their obligation to their lender.There is a timeline to a bank beginning foreclosure.
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11 February 2025 | 5 replies
Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont?
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20 February 2025 | 1 reply
Research financing options like portfolio loans or working with international-friendly banks.
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20 February 2025 | 1 reply
I don't have credit history in the US so I'm not able to qualify for traditional financing through a bank and being approved where I'm from is surprisingly just as challenging.
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23 February 2025 | 9 replies
You do have to keep an eye on your write offs to ensure you are showing a good NOI and not using too many write offs to show enough income to use for bank/lender underwriting on a mortgage/loan.
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25 February 2025 | 7 replies
Factoring - is a rough business like Tony SopranoThe address is a Chase Bank branch so that's bad