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25 November 2024 | 6 replies
What credit score do you anticipate tenants having?
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25 November 2024 | 5 replies
I have a US credit score, US bank accounts and some US-based income, but my paychecks are not.
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10 December 2024 | 26 replies
Leave credit cards at home in the freezer in a bag filled with water that has frozen over....lolAmazes me how many people fall for these types of programs.When I buy NNN properties either my buyers wanting to own direct and I find the property or whether they are accredited LP investor on my syndication deals they learn with me while they INVEST CAPITAL to own fully themselves or a piece of the deal.
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1 December 2024 | 2 replies
Also remember just because a loan may qualify as being assumable the lender will go through a thorough underwriting process to confirm you meet eligibility for the loan.I have seen a guru teaching people with poor credit to go after these types of loans and it’s unfortunate as many would most likely not qualify.
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3 December 2024 | 6 replies
Most of my clients run their SFRs at a 25%-30% (excluding vacancy/credit loss) operating expense margin and most of the banks I deal with on their DSCR loans underwrite using 35%.
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25 November 2024 | 13 replies
With middle 700 credit scores you can push your rate into the mid 6s today.
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5 December 2024 | 31 replies
However, I've researched different ways of doing this, such as a home equity loan, Home Equity line of credit, and cash-out refinance.
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5 December 2024 | 8 replies
I ran some quick numbers and would estimate (assuming you have good credit) you could borrow around $415k-$420k, which includes funding 100% of the rehab costs.Have you calculated your expected profit based on selling after rehab and if you decide to keep long term?
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30 November 2024 | 6 replies
Check with a few local credit unions as they usually have the best HELOC offerings.
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3 December 2024 | 9 replies
sometimes to reduce borrowing costs, I'll use a hard money loan solely for the purchase, and then pay for the rehab in cash or use a 0% credit card (I don't recommend that for new investors!)