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12 October 2024 | 9 replies
Examples: Medical Professional Financing (stronger rates and limited down), low down payments of 3.5-10% on jumbo primary, second home or investment properties, 10% down for investment properties of 1-4 units (with no PMI) and portfolio or private loans with attractive ARM or seller carried rates we negotiated.
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13 October 2024 | 18 replies
The range went missing, and we evicted the tenant due to non-payment.
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14 October 2024 | 12 replies
This designation allows them to treat rental real estate losses as non-passive, meaning they can deduct losses against other active income.
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12 October 2024 | 7 replies
I suspect they drew you a flow cart and then your conversations went something like this: I need to transfer my properties to an LLC for anonymity.They are told they are not anonymous & that is not asset protectionBut I need it anyway for tax savings.They are told there’s no meaningful tax advantages But I can get non recourse debt because the LLC is the borrower.They are told they still have to personally guarantee the loanNo, I can get non recourse debt I read all about it.They are told yes, while that is true, the leverage is customarily low, applies to much larger CRE transactions and there are still carve outs.
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14 October 2024 | 8 replies
Its a Reg a+ (so open to both accredited and non accredited) - $5k min.
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12 October 2024 | 16 replies
How do you feel about a $700k purchase price with a non owner occupied 4plex DSCR loan 3yr prepayment penalty, 10yr interest only 30yr fixed after$560k loan amount (20% down)7.750 par rate with no costs. monthly payment $3,616.66Or pay $22,295 in closing costs and get a 6.375% Monthly payment of $2,975The monthly payment difference between the two is $641.66And when you take $22,295 in closing costs and divide it by $641.66 that will give you 34.5 months (2.89 yrs) to break even if my math is correctHow do you guys feel about taking a lil less than 3 years to break even on $22,295And the seller is giving me $15,500 in seller concessions thanks for the advice guys!!
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14 October 2024 | 31 replies
In the end I’ve learned a ton and it’s given me the confidence to pursue non turnkey as I continue to build relationships with people.
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11 October 2024 | 41 replies
Point is, yes, this strategy works and MY place works well for business travelers (individuals) and the occasional medical professional (who--no offense--ALWAYS asks for a discount :).
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13 October 2024 | 23 replies
Find a non-bank lender or broker who offers bank statements loans - this is literally the situation that these products are meant to tackle.
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16 October 2024 | 13 replies
I personally would try to get a family member to manage it if that's an option.You can get conventional financing as a business owner if you go with a non-QM or bank statement program.