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16 January 2025 | 0 replies
Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:• Purchase Price: $215,000• Down Payment: $43,000• Loan Amount: $172,000• Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):• Monthly Payment: $1,573.39• Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):• Remaining Balance: $78,556.96• Monthly Payment: $1,541.18Additional Conditions:1.
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20 January 2025 | 62 replies
I'm looking to do a cash out refi on a duplex I have, but I cannot find any reviews online or much of an online presence for them.
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17 January 2025 | 0 replies
I’m passionate about learning and improving my process to provide real value to investors, whether you’re focused on fix-and-flip, buy-and-hold, or any other strategy.Looking forward to your thoughts and insights!
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17 January 2025 | 14 replies
I always loved having an HELOC on my primary residence as the answer for me.
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15 January 2025 | 15 replies
I use pricelabs on all my listings and have really enjoyed it.
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16 January 2025 | 4 replies
Once you have a handle on that then you can decide from that point.
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14 January 2025 | 11 replies
I bought my first two liens over the counter and was able to foreclose on both and made out very well.
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12 January 2025 | 185 replies
I'm not into Sub2.In MN when using the SOS "fast-file" online system to form a LLC it states, CLEARLY but often missed by people, Single member LLC's are a disregarded entity and legally held as sole proprietor for all legal purposes.
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20 January 2025 | 32 replies
There have been a few comments along the lines of "new homes aren't built with the same quality as old homes".
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16 January 2025 | 3 replies
.## Strategies: Flipping, BRRRR, House Hacking- **Flipping:** Focus on properties that need renovation but have good potential for resale.