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25 November 2024 | 10 replies
Positive/negative?
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27 November 2024 | 3 replies
Ask them if you can speak to some of the borrowers they have lended to find out if they enjoyed working with them
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27 November 2024 | 13 replies
Generally speaking condo are cheaper to get into, but you have higher costs due to condo fees and if the condo board does a bad job running the place, you will have even more costs.
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27 November 2024 | 3 replies
I would like to read over them and be able to ask questions and speak with you.
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28 November 2024 | 10 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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27 November 2024 | 9 replies
In addition to brokers, I would also suggest speaking to 1-2 regional banks/credit unions.
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25 November 2024 | 7 replies
An LLC has no effect negatively or positively on how a full doc lender will calculate your income.
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27 November 2024 | 18 replies
Not sure if Eddie Speed is still around and teaching out of Dallas, but I used to hear him speak years ago and he seemed like he is/was an expert.
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27 November 2024 | 8 replies
I suspect they are using someone else's identity or hiding something negative from their landlord.It is not uncommon for people to have good credit but still have an eviction or other problems with a previous landlord.
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1 December 2024 | 25 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.