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13 December 2024 | 4 replies
As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.
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18 December 2024 | 15 replies
As your equity grows, your cost grows to a point where you are losing money with its growth.
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13 December 2024 | 4 replies
Here you would continue to find borrowers and fund loans with your own money.
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12 December 2024 | 5 replies
Not only am I sorry you lost money but it gives a black eye to us legitimate lenders everywhere.
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12 December 2024 | 19 replies
We are very excited to finally have a fully occupied property after about 1.5 years of issues and huge sums money going towards them.
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11 December 2024 | 2 replies
You might find a HML hard money lender that may offer this but your going to pay a ridiculous rate and points/fee's.
12 December 2024 | 2 replies
Document all of what you do if you are going to get it done for them, and/or if you cut them a check then make sure it is in writing that it was all done and they cannot come back to you at a later date asking for more money/mitigation.
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11 December 2024 | 3 replies
The best HELOC usually comes from the bank where you have the most money or the one you have the best relationship with.
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15 December 2024 | 59 replies
To avoid actually collecting money every week the lease agreement stated that the term was week to week, but if you paid in advance for 4 weeks worth of rent on the 1st of the month, you would receive the remaining days of the month at the discounted rate of being free.
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14 December 2024 | 36 replies
As a result when the brokerage acts as the listing and selling brokerage it saves both home sellers and buyers money.