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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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16 February 2025 | 6 replies
You'll want to gather the last 2 or three months of COMPLETE bank and brokerage statements...even if you think we don't need to see it...give them to us.
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24 February 2025 | 1 reply
Have a mortgage broker, not a bank, run different scenarios.
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19 February 2025 | 7 replies
@Yinon Estikangi - On my BRRRs I've been asked by most appraiser for the rent amount and sometimes asked by the bank for a copy of the lease.
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17 February 2025 | 6 replies
Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.
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9 February 2025 | 4 replies
The only thing the bank required is that I had a checking account with direct deposit setup into their account.
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19 February 2025 | 13 replies
Otherwise, just go through all the local/regional banks.
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22 February 2025 | 4 replies
Sellers generally want cash before bank financing before seller financing.
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14 February 2025 | 5 replies
It was from a bank, Delmar Mortgage was who it went through before the sold off the loan.