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17 June 2024 | 8 replies
I would look for a provider who provides some sort of warranty or guarantee, and ask for references.
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16 June 2024 | 16 replies
The buyer definitely owns the property, otherwise it is not owner financing, it is some sort of lease or option or a combination of the two.
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17 June 2024 | 9 replies
We no issues closing in an LLC, as a matter of fact most of my lenders will prefer it (assuming it is not your primary residence)Assuming it is not your primary residence, the easiest way to do this deal would be through a DSCR Loans.A DSCR Loan will use current rents or market rents if the property is vacant and personal tax return from you would NOT be required.It also referred to as a No Ratio Loan because your personal Debt To Income is not important.What is important is that the property can pay for itself.If we keep the LTV Low the rate for this loan can be better than a conventional loan.If you ARE Living in the property and you want to keep it... it would mostly depend on how motivated you are and how willing you'd be to "postpone gratification"The best bet is still a DSCR Loan.. which means you moving and renting the property out.We can bring in Asset Based Financing that can help with cash down (if you need it) or to pay cash for another property for you to reside in.Once you're moved out we can do the DSCR Loan at a 70% - 80% LTV or we can calculate a comfortable cash flow number.For example, max cash out that will give you $500 cashflow after a full PITI payment.Let's discuss more!
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18 June 2024 | 14 replies
idk.Correct me if I'm wrong, I keep hearing about biggerpockets.com/insights on multiple videos and podcasts - and I thought it was a database of information you can sift through, sort, etc. similar to the excel sheet in the appreciation vs. cash flow, but now that I've searched through the site it's just BP PRO blog articles?
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17 June 2024 | 6 replies
This is going to be a very tough scenario, I suggest you stop putting money into this deal until you get things sorted on the financing side.I would also be very careful with and sketical about any offers for 100% financing... it will not happen, they are lying 99.99999999999999% of the time.The only realistic way would be for you to find a private investor to come up with the down payment for the mortgage but a down payment will be needed.90% LTC is theoretically possible through a flip loan but in order to reach that level you would need to have a lot of completed projects under your belt over 2 years.20% is possible but with 25% you would have a lot more options.That is part of the issue with this transaction...The other issue is with HOW MANY loans you are seeking...This is not 1 loan because this is not 1 deal...You need 3 loans because you are doing 3 separate transactions at the same time with the same seller.Blanket loans do exist but they are not widely available.Each folio number is a separate deal...
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18 June 2024 | 0 replies
This is why when the Fed hikes or cuts rates, it affects all other sorts of financial instruments.However, the main benchmark for bonds, including mortgage bonds, is U.S.
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16 June 2024 | 2 replies
I'm a multifamily analyst for a bank that originates all sorts of real estate loans, and I am looking to connect with people that have a passion for real estate and money.
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16 June 2024 | 10 replies
Since I’ve increased my deal flow to a significant degree, I find that this technique eliminates the wasted time and effort of dealing with people who aren’t highly motivated to close a transaction.
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20 June 2024 | 245 replies
I bet this increases supply substantially and increases the number of motivated sellers.
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19 June 2024 | 42 replies
Lenders gave low rate loans at 3 which they would rather churn and turn to profitable ones today at 7 so there is motivation to get paid off.