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14 February 2025 | 4 replies
This prevents the foreclosure from damaging their credit for years, but also does not return equity.The homeowner may consider selling the house on the MLS or FSBO.
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9 February 2025 | 4 replies
The fees for us to do it were $492.50 and you can see the lender credited those back to us.
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18 February 2025 | 4 replies
The other way I fund deals with none of my own money is using a private lender that I have years of experience and relationship with and/or using HELOC and other business lines of credit.
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18 February 2025 | 3 replies
Bringing in a partner, second mortgages, line of credit are sources of additional funding to close.
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22 February 2025 | 7 replies
Bank Recommendations:Chase and Bank of America are popular because of their extensive business banking features and integrations with bookkeeping tools.Smaller community banks or credit unions can offer more personalized service and lower fees, but make sure they support series LLCs.Online banks like Novo or Mercury are great for tech-savvy users who want low fees and easy online management.What to Watch Out For:Hidden fees for transactions or deposits.Limitations on the number of accounts or ACH payments.Difficulty in maintaining clear separation between the series, which could risk the limited liability protection of your LLC.Since you’re using a Series LLC structure, it’s crucial to keep each property’s finances completely separate to maintain liability protection.
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17 February 2025 | 3 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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5 February 2025 | 4 replies
Home Equity Loan (HEL) or Home Equity Line of Credit (HELOC) – You could tap into the $150,000 in equity to secure a $30,000 loan.
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10 February 2025 | 5 replies
Since your name is on the deed, you have a few options to secure financing for the rehab:Home Equity Loan or HELOC – Since the house appraised at $500K and you own it outright, you may be able to take out a home equity loan or a home equity line of credit (HELOC) based on the home's value.
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22 February 2025 | 109 replies
I run a private credit fund - I need to pick their brain on how they can give investors 12-13% and make money.
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23 February 2025 | 4 replies
If I were in your shoes (which I was recently, and will be again when I move to the next property), I would call up 10 different lenders including small banks, credit unions, etc. and tell them your situation, what you are trying to do, and how they might be able to provide a product to support you.