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28 January 2025 | 3 replies
As far as feasibility, you can absolutely use propwire, or propstream for that matter, to secure the list and then mail postcards to the owner info.
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6 February 2025 | 11 replies
I also require additional security deposit and sometimes a guarantor if they were approved in this manner.I also agree that this situation sounds like a pattern not a one-time mistake or short term tough situation that caused this.
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27 January 2025 | 7 replies
Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option.
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8 February 2025 | 8 replies
I would look FAR AND WIDE for someone to do an investment property HELOC -OR- go to a bunch of banks and CUs (including who you bank with now) to find someone to provide an unsecured (or secured if you have other collateral) LOC to get rid of the high int debt.
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30 January 2025 | 0 replies
One powerful tool that can help investors secure better loan terms is asset utilization—especially when the DSCR (Debt-Service Coverage Ratio) is under 1.🔹 How It Works:If your rental income falls short of covering your mortgage (PITI), you can use liquid assets to supplement your income.
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3 February 2025 | 7 replies
If I were in your and/or your mother-in-laws shoes, I would go to a local bank and use the free and clear house to secure a $150K+ line of credit.
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16 January 2025 | 7 replies
There is a ring camera system that has a job site security package as well some of my investors use for their projects do not have internet it works off cellular connection.
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11 February 2025 | 4 replies
List of Licensed Agency Multifamily Lenders: Who to use, who to avoid, why you don't need a broker to secure agency debt.
28 January 2025 | 7 replies
I work full time at a decent job, but have quickly learned that I needed to make some changes in my families life by securing our financial future.
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18 February 2025 | 4 replies
It’s inconceivable to me how someone with a RE broker license, a CCIM, and a plethora of Series Securities Registrations can think that the property tax valuation would be reassessed at a LOWER value after knowing that the subject property and neighbor properties were being sold for record prices with each recent sale.