If you talk to the average bank, they generally are not going to know much about MF underwriting.Virtually every lender (commercial, MSE MF, even private lenders) are going to want your "skin" (dollars) in the deal unless this is an astoundingly good deal, you have extensive experience, or can substitute other substantial collateral to bolster the deal.

I haven't used it to create an LLC, but would use their service for this if I was doing a basic, small company setup.Anytime I'm creating legal docs for an entity that has a substantial amount of money involved or potential liability issues (i.e. pretty much any real estate venture I'm involved in), I use a lawyer.Lynn

If you believe the market went up substantially and you believe your at 80% or less you can pay for an appraisal or do a combination of slight principal payment and order an appraisal to substantiate the value to remove the PMI.

Of course, if you can make a substantial amount of profit to reinvest before then, selling is still okay.

Hello everyone, I am hoping to get some feed back on a rental property I am about to purchase.Purchase price: $7,000.00Taxes: $975Repairs: $28-$35k (depending on how much work I personally do, it could be substantially less)Rents: $800-$900 / monthI am not going to lie, this is not in a highly desired part of town.

Remember, if you are seeing rates below this those might require substantial down payments.

Fair housing laws state:If you or someone associated with you:Have a physical or mental disability (including hearing, mobility and visual impairments, chronic alcoholism, chronic mental illness, AIDS, AIDS Related Complex and mental retardation) that substantially limits one or more major life activitiesHave a record of such a disability orAre regarded as having such a disabilityyour landlord may not:Refuse to let you make reasonable modifications to your dwelling or common use areas, at your expense, if necessary for the disabled person to use the housing.

Maybe someone has some suggestion on how I can post it and I'll be happy to show you the evolution.So without the benefit of showing you the evolution of my mailing over time with number of letters mailed, response rates and closed deals, suffice it to say since Jan 2013, our response rates have been dropping consistently and our piece sent have increase substantially.

This savings could translate into a higher return on your time since if you paid back your 49,200 and only have 20k left @12% interest lets say your month cost to hold the property is not substantially less in the absence of obscene closing costs or points.Option B:This may be an investors dream cash back 45k in your hands and a property with no skin in the game "infinite return," assuming you still cash flow with 120k of leverage on the property.A tenant would be paying your mortgage, taxes, insurance, and etc while you've retained the property, received 45k non taxable proceeds from the refinance since the asset has not been sold, and potentially making some income each month if the numbers work.120k @30 year fixed 5.625% is only about 690.79 per month and taxes and insurance I'd wager (depending on state) is probably 130 more.

As you can see, you have already received some substantial information from the BP family.