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3 September 2024 | 20 replies
I’m primarily evaluating the deal I’m lending on, but I also want to see what kind of track record the borrower has in managing their financial obligations.
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30 August 2024 | 14 replies
The cheapest/potentially no-cost option is just doing public records searches and contacting owners directly.
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30 August 2024 | 4 replies
Some examples are;-County website for actual prop tax bills-Tenant estoppels-Actual utility bills-Bank statements and tax records-Verify insurance premiums with your carrierSome say "Trust, but verify," I say "Trust that someone selling you something will only show you what you want to see.......So verify."
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28 August 2024 | 21 replies
It's a product offered by Lead Propeller and am curious if anyone has tried it.
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30 August 2024 | 15 replies
What is the best way to provide a legal buffer and prevent your home address from going on public record?
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30 August 2024 | 1 reply
Request a business plan or financial records to gauge their ability to repay the loan.
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2 September 2024 | 34 replies
She also said they have been in business for a long time, that they had proprietary software that used county records to find vacant properties in any state and that they were "A-Rated" by the BBB.
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30 August 2024 | 9 replies
One of the good things about DSCR Lenders is that the guidelines and programs are different and not cookie-cutter 100% equivalent like conventional lenders that all must mirror the GSEs, etc.Most DSCR Lenders will have similar rates and terms and generally similar processes - so generally what will make the "best" one is the best one for your needs - I would focus on any specialties or niches - like short term rentals, if you do multifamily or mixed use, BRRRR Method or focus in on a specific market - find someone who specializes and has a good track record in that niche or area
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2 September 2024 | 18 replies
Maintain separate accounting records for the LLC, have LLC property properly titled in te name of the LLC, and you should be well protected from any attempt to hold you personally liable for LLC acts.
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29 August 2024 | 6 replies
@Jerome MorelosIt will be similar to what you sign with a bank, there will be a note (which is the iou which states how much you can borrow and at what terms and length)Then there will be a deed in trust (assuming California) which is a recorded document that uses the property as security.