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21 January 2025 | 14 replies
You’d buy an off-market, distressed property, fix it up, rent it out, refinance it, collect your money from the refinance, and repeat the process.
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24 January 2025 | 7 replies
You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.
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1 February 2025 | 19 replies
Don't look for lowest rate, look for lowest cost on fees as you will either refinance out of that loan or sell- the prepay will hit you on the back of the head like a cinderblock wall.
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17 January 2025 | 4 replies
If you are considering buying using Subject To - Subto, it's important to know what your exit strategy is.Talk to a mortgage broker (not a bank) and ask if that is a property you will be able to get financing on in the event you have to refinance quickly, because the Due On Sale clause was called.AndTalk to a real estate agent about how much you would have to bring to closing in the event you had to sell quickly.
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26 January 2025 | 15 replies
Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.
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15 January 2025 | 5 replies
I'd start by refining your search criteria, researching the surrounding markets, and comparing them to what best fits your needs, etc.
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12 January 2025 | 8 replies
Once you start stacking more and more property loans into your personal name, it can bleed into your personal credit worthiness.This bit me in the butt when I wanted to refinance my own house when rates were in the 2% range.
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9 January 2025 | 9 replies
The only difference is the seller remains on title until we have enough equity to refinance or sell.3: Typically we don’t agree to balloons.
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8 January 2025 | 1 reply
So whenever the buyer wants to refinance or sell the property my lien comes up aswell and that's when I'm taken care of?
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8 January 2025 | 14 replies
When you build a relationship and use a Banker time and time again they know your file, credit, and can determine what program would be best for the next step or cash out refinance.