Edgar Gonzalez
Using Home Equity for Real Estate Investment
17 June 2024 | 9 replies
We no issues closing in an LLC, as a matter of fact most of my lenders will prefer it (assuming it is not your primary residence)Assuming it is not your primary residence, the easiest way to do this deal would be through a DSCR Loans.A DSCR Loan will use current rents or market rents if the property is vacant and personal tax return from you would NOT be required.It also referred to as a No Ratio Loan because your personal Debt To Income is not important.What is important is that the property can pay for itself.If we keep the LTV Low the rate for this loan can be better than a conventional loan.If you ARE Living in the property and you want to keep it... it would mostly depend on how motivated you are and how willing you'd be to "postpone gratification"The best bet is still a DSCR Loan.. which means you moving and renting the property out.We can bring in Asset Based Financing that can help with cash down (if you need it) or to pay cash for another property for you to reside in.Once you're moved out we can do the DSCR Loan at a 70% - 80% LTV or we can calculate a comfortable cash flow number.For example, max cash out that will give you $500 cashflow after a full PITI payment.Let's discuss more!
Marty Boardman
What's the more valuable skill, finding deals or finding the money to close deals?
17 June 2024 | 19 replies
My strength has always been finding/analyzing deals, and then presenting them to an investor/lender in a way that makes the decision for them to fund a no-brainer.
Joni Martin
Anyone Invest in Limitless Turnkey?
15 June 2024 | 7 replies
If you get a no on any of these questions, you are probably not dealing with a true turn key... and they will not have enough skin in the game to do a good job for you.
Arina Alexiuc
New Investor - looking for advice
18 June 2024 | 56 replies
Househacking when having a family may be a no no for many people because of privacy issues.Best to maybe look at buying a second home or investment property with 10 to 15 percent down eac year
Walter Wintermute
Withdraw from 401K or Roth 401K to pay off Rental Property
15 June 2024 | 10 replies
To some it seems like a no brainer if the interest is higher on the loan than the 401(k) interest but consider this…the loan interest can be written off.
Kevin Lee
Investing in Detroit
15 June 2024 | 30 replies
Kevin, if you live in or near Detroit, it's a no-brainer to invest here IMO.I started buying rentals in the city about 3 years ago and it's been the best financial decision I've ever made.
Kyle Smith
Am I crazy for building a new cabin in Gatlinburg?
14 June 2024 | 28 replies
Sounds high to me unless you are able to really make this unique.I realize I made of lot of back of the napkin assumptions above, but it sounds like a no go to me.Yep, you are on point with this.
Ethan Piani
24 y/o with $120,000.00 --> Need advice
15 June 2024 | 32 replies
On the other hand, flipping is considered a trader business and taxed at one of the highest rates.I have a feeling this is a no-brainer decision when you factor that in.
Emanuela Hall
Maybe I shouldn't have paid off my rental....
12 June 2024 | 15 replies
Typically you want the debt with the property and putting that debt on your primary is generally a no-no unless its short term.If I were you I'd pull out 70% equity from the rental property, go find another house under market value to fix up and force appreciation.