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5 November 2024 | 4 replies
I purchased it with a HELOC so higher interest debt until I can cash out refi.
10 November 2024 | 19 replies
These can be paid by credit card or bank transfer.
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7 November 2024 | 6 replies
Torn between using my VA loan or use my investment property below to help fund my deal.Been losing deals left and right due to the owner occupied rule with VA.I have about 30k in savings, 30k retirement fund, no debt, low expenses (living with parents until find a place)I Own (under my name) a 5 unit mixed use building (4 residential, 1 commercial) fully occupied.
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1 November 2024 | 17 replies
The interest rate they gave me at us 7.70%, 5/1 ARM, rent to debt service ratio is 1.21My credit score is 672.
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4 November 2024 | 19 replies
That typically results in a higher payment and an open end mortgage (Credit card) versus cash in the bank that can act as an Asset and PITI reserves where a Heloc cannot.Feel free to reach out if you have any questions, I enjoy helping and talking REI.
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4 November 2024 | 1 reply
Luckily, it's directly spelled out in our governing documents that assessment debt can't be passed from previous owners to new owners.
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4 November 2024 | 1 reply
Some of the projects were with a local partner as well and then the managing chores were split between us.The lending perspective was stiff in the beginning, as I didn't have any experience at all, also no credit score, and that project was only by myself, so the leverage was low, but I could work on a low-price property to start.Fast forward 5 years, I have built a credit score with 2 credit cards under my ITIN of more than 650, and done 4 properties as experience.
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5 November 2024 | 3 replies
I confirmed that his parents had no debt on the property.
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5 November 2024 | 5 replies
Find a good property being totally mismanaged - offer to purchase 60% and take operational control selling your property management expertise and future profitability, providing property owner/seller with enough cash to pay off his pressing debts keeping current loan in place.
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5 November 2024 | 3 replies
I dealt with it on another debt fund I used to run.