Kymberly Chase
Taking Line of Credit from my STR business
20 June 2024 | 12 replies
When I first started my STR business in 2019, I watched F&G and other similar videos (such as Noelle Randall on business credit cards), and subsequently started making application for business cards.
Percy Matsunaga
Ignite funding
21 June 2024 | 23 replies
But now a days the title policy will read to that beneficiary and any subsequent assignee's.. and Tim I posted the state of CA disclosure document we used for multi bene loans. so you can see that.what should happen in these multi bene loans is a document that allows the sponsor to prosecute a foreclosure.. if you dont have that each bene has to agree and that is were these get sticky.. 4 investor say foreclose and one says nope.. keep in mind in the mid 80s in the Bay area our loan sizes were already 200 to 500k for HML.
Patrick Henry
Has anyone used Delta Build Services and/or Build 2 Rent
19 June 2024 | 30 replies
@zach lemaster with R2R continues to reach out to assess the situation as well as work with us to strategize for subsequent properties.
Daniel Colon
Lender won't let me move the property to my LLC
19 June 2024 | 32 replies
Both FNMA and FHLMC permit this, under the following circumstances: Notes: For all such transfers affecting mortgage loans purchased or securitized by Fannie Mae on or after June 1, 2016, the transferee is not required to occupy the propertya limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.Citation: D1-4.1-02: Allowable Exemptions Due to the Type of Transfer (04/13/2022)Now, you will still have the Note and reporting in your name individually and will still be personally responsible for the mortgage and most likely, the manner of transfer will enable any litigant to pierce the veil of your LLC, but you'll have what you wanted, for whatever reason.
Jim K.
For newbies and the BIG MEANIE INVESTORS in the BiggerPockets forums
20 June 2024 | 69 replies
Some people I will NEVER talk to about anything are the tenants, employees and vendors of the real estate enterprise.
Ember Meadows
Closing on a Wholesale Deal
18 June 2024 | 69 replies
However, once I assign a deal or two to an investor with no issue, I will usually cut out my attorney and just deal directly with the investor and title co on subsequent deals.
Robin Simon
What Are Current DSCR Loan Rates? Key Market Movers and How to Track Rates
18 June 2024 | 0 replies
One key insight is that conventional mortgage bonds (mortgage-backed securities, or MBS) made up of government-sponsored enterprise (GSE)-backed mortgages are benchmarked with the United States 10-year Treasury bond, while MBS made up of non-QM mortgage loans (including the all-important ones for real estate investors, DSCR loans) are benchmarked with the United States five-year Treasury bond.
Diana Tran
For those who invest remotely and scaled their business, how do you do it?
17 June 2024 | 26 replies
Once you got you area you need to focus on you hone in and get it going.The power of delegation will take you further, the formalities of legal enterprises will keep you from getting hosed.
Alan Goetsch
Connected Investors Largest REI Scam on the Internet
18 June 2024 | 121 replies
I will give credit however to CI, in that we learned a multitude of things NOT TO DO and how to better refine our associations with those who are real REI's.Conclusion: Connected Investors is a rip-off, scam and nothing short of a criminal enterprise!
Jordan Tomala
Real Estate structure for AL first rental and future growth
11 June 2024 | 6 replies
I am looking at the city of Enterprise website.