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27 May 2024 | 7 replies
Lenders that do DSCR loans for foreign investors typically require bank documents to be translated and currency to be converted U.S. dollars.
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28 May 2024 | 11 replies
Be sure your attorney drafts the documents for your protection .
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27 May 2024 | 3 replies
Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.
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27 May 2024 | 8 replies
Of course, the rate can be slightly steeper than the conventional loans where it is a full document loan, where they need to qualify you based on your income.Alternative way, is to acquire the 2nd property as an investment property with conventional, while putting 15%-25% down payment.
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28 May 2024 | 15 replies
make sure you have cash reserves. as soon as you sign, you could give them a 60 day notice of rent increases. documentation of the owners lease agreements with each tenant & rental payment history. you could sign a 6 month lease with everyone to see how things go. licensed & bonded contractors, someone who can take accountability- you can send an email too if something goes wrong (the boss).
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27 May 2024 | 8 replies
Or can prepare the documentation for a seller-financed transaction.
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27 May 2024 | 1 reply
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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26 May 2024 | 19 replies
They really don’t care about you.Alternatively, if the handwriting is not already on the wall, you can try to placate them piecemeal, but this may never end.We have an Anti-Money Laundering Declaration in our loan documents and so should you.
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28 May 2024 | 26 replies
Very simple form that is used: https://content.enactmi.com/documents/calculators/Form1038.C...
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26 May 2024 | 3 replies
I would ask him to review his documents from the seller finance to see if that financing is assumable.