Correspondent lending typically takes one of two forms: delegated or non-delegated.One approach is to obtain your loan purchaser’s criteria and documentation, (hopefully) adhere to them scrupulously, and originate the loans yourself.

In addition, 1031 Exchange Qualified Intermediaries are generally not required to be bonded, insured or maintain any other form of minimum equity capitalization.

It’s been a good blend of cash flow and appreciation for me, and it might be worth checking out as part of your trip to the Midwest.If you want to chat more about Detroit, feel free to reach out.

Ive worked with them before for another displaced family and it was great, they even adjusted the rate mid stay and was a big financial win for me. 

Costs ran significantly over on both of these items and not being in the area it was not possible for me to add my experience in renovations to lowering them. 

The bookkeeping is the only part that is homework for me.

For simplicity, consider forming separate LLCs in each state for properties, using a revocable living trust for probate avoidance, and securing umbrella insurance.

Hello Team,I am  looking at my outstanding credit card debt which is at ~25k would it make sense for me to consolidate this debt to a lower interest loan? 

Please keep those posts in the Classifieds forum.Need a spreadsheet or form?

@Phillip Austin I self-manage my properties including some where I do rent by room as a primary strategy, and it is very effective if done well with good screening in place.The difference is starting with shorter leases for me.