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12 February 2025 | 7 replies
If you need a new job once you move, you will need an offer letter prior to closing on your new home (and you will need 6 months reserves in order to be able to use the offer letter as income).
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8 February 2025 | 18 replies
Most work like this: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.
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23 February 2025 | 2 replies
In my most recent 2 deals, both had contingencies and we still won the offer.
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26 January 2025 | 5 replies
That's probably what I'd do first unless you just have no experience doing these deals at all.
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17 February 2025 | 3 replies
If the numbers work when I run them, I know reality should only be better.ActualsPurchase Price $227,500Interest Rate 30 year conventional 6.375%Homeowners Insurance = $920.21Rents = $1,900 per monthTotal mortgage + escrow = $1,182.58 per month with rents at $1,900 my actual cashflow is $717.42.Additional numbers behind the dealTotal cash to close = $87,475.55Down payment = $80,000Homeowners Insurance - $918.36Rate Buy Down 1.283% - $1,892.43We paid to lower the interest rate by 1.283% over the course of the 30-year loan.
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18 February 2025 | 8 replies
I have called some local lenders (I prefer to deal with local banks if possible), but have not gotten very far.
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23 February 2025 | 16 replies
I've done sub2 deals and wholesaled sub2 deals, am I a con artist/criminal?
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17 February 2025 | 3 replies
It's close to Overland Park and a few other major suburbs on the KS side.
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11 February 2025 | 4 replies
I was wondering what the best way to structure a deal with seller carry is?