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Results (10,000+)
Matthew Sarro How necessary is a history of personal financial statements for a lender?
3 September 2024 | 20 replies
The loan application will ask about the assets you need for the purchase (down payment, closing costs, and reserves), and you will need documentation for those accounts (most recent statements). 
Agustin Rossi What to do if a motivated seller asks for proof of funds?
3 September 2024 | 32 replies
That is usually confirmation from your banker, your bank account with the account number redacted or a letter from your lender. 
Julie Muse Quick Flip Success: Turning $18K into $28K in Saint Marys, OH
3 September 2024 | 0 replies
Partner Driven financed this deal using our established capital reserves, allowing us to close quickly and efficiently.
Brittany P. A Dodd-Frank Question
2 September 2024 | 9 replies
(Confirming in advance that I understand any reply from you isn’t legal advice.) 
Vinessa Eisele DSCR Loan with 25% seller financing
2 September 2024 | 10 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
Deandre Brown Any experience with RMLO?
1 September 2024 | 4 replies
Basically its no different than applying for any other mortgage, the lender wants to underwrite the loan to confirm your ability to repay.
Shiwei Qu Tenants are running a non-profit organization
3 September 2024 | 9 replies
If you want to keep them, make sure they are 100% honest about their intent, check zoning to verify they are allowed in that area, charge them market rate, and confirm they are insured to protect you and the property. 
Collin Hays "Is 'NO WI-FI AT THE CABIN' the right password?
2 September 2024 | 5 replies
I hope it wasn't an Airbnb reservation, if so you would be looking at a hefty refund for missing amenity :(
Claudia Stewart Dead lawn due to lack of watering on vacant property considered PM negligence?
6 September 2024 | 19 replies
I got VERBAL confirmation on several occasions from the turnkey company's acquisition team that upon closing, the property management team would hire a lawn care company to mow and water the new sod while the property was vacant.
Srikant Puvvada Investing single family or duplex?
3 September 2024 | 15 replies
Pleasant Hill, Southern Pointe, Midtown Reserve, or Southern Plantation.