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2 February 2025 | 2 replies
One of the above houses was a foreclosure, now bank owned and on the MLS.
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30 January 2025 | 4 replies
and trailer stolen, workshop robbed 3 times, business bank account hacked and Not Insured (w a bank name like C#@$e), hip replacement, Botched oral surgery for sinus cyst 3 times, So Far, that caused an infection that kept me from working most of 2024 and just now recovering.SO Fire Sale February for me But I’m too broke to finish a punchlist to keep rental certificate open on top of living expenses and cover unexpected bills.Seeking micro bridge loan in the $5-10k range to be repaid at sale of house.I have another small single family paid off and rents for $950 as well.Any advice or suggestions for resources Greatly Appreciated
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18 February 2025 | 35 replies
Are LPs entitled to see foreclosure, bank loan related docs?
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19 February 2025 | 7 replies
@Randy Fitzgibbons - I'd recommend going with contractors who have experience with deals like this AND have experience working with banks/lenders for 203K rehab deals.
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12 February 2025 | 4 replies
Ultimately, you will need to have the borrowed funds in USD and ideally in your US business entity bank account to sail through underwriting with US lenders on US properties.Caveat: the rates will likely be something like 10-12% so it would not make sense on a long-term holding, more like on a down payment on a purchase and rehab value-add project that you will eventually sell (or cash-out refinance) to pay off the borrowed funds in a few months.
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30 January 2025 | 8 replies
You may also be able to start sending letters to duplex owners explaining who you are and that you want to own and live in a duplex, etc.
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24 January 2025 | 17 replies
Agree with most here...the longer it takes to explain a situation or a deal, the less likely I am to want to do it.
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30 January 2025 | 13 replies
Wrapping 3 properties into one blanket loan shouldn't be a problem, save these are sitting on any sizeable acreage.You might get lucky and find a unicorn local bank or credit union that would consider that kind of leverage, but I would say overall, those terms are very unrealistic.Cheers!
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4 February 2025 | 2 replies
The problem is, and here's where I really screwed up, is that now I'm told by lenders that because we have a commercial tenant banks won't refinance the property.
10 February 2025 | 8 replies
I love to explain this stuff.