If you are looking for a more laid back and roundtable type discussion of all things real estate, you are more than welcome to join us every Tuesday morning on Zoom or Thursday morning at Kairos Coffee where we discuss everything from assumable loans, to creative buying strategies, to landlord tenant laws and pretty much everything in between! 

Depending on the quality of the lead, how much work you’ve done with them, the exact source, the property in question, etc, they may range from worthless to worth a small referral fee.  

It would definitely work, but would depend on the rest of the terms of that loan product - interest rate, origination fee, etc.

Basically, refund any and all down payments, interetest charges, processing fees, late fees, etc.2) I beleive Dodd-Frank only applies to owner-occupied properties. - Hence why all the DSR loans we've seen have a required document the borrower signs that states the lender will start foreclosure proceeedings if the borrower ever occupies the property.Please correct me if I'm wrong or clarify anything I missed.

Paying this out of pocket is going to hurt badly after I've already lost rent for the past 6 months plus court fees.

Happy to connect to discuss further!

While it’s an affordable entry point with low maintenance, you need to watch out for high HOA fees, rental restrictions, and resale challenges.

Let me know if you want to jump on a call to discuss. 

@Tyson Regier  I agree with Megan, and would add to her list Annual fees associated with each llc to keep current/registered with State.Annual Tax filings costs...

So, for a $60k loan, you'll likely need $12k-$15k for a downpayment, $8k-$12k for closing costs (prepaid insurance and taxes, lender fees, attorney fees, points, prepaid interest, transfer taxes, etc), and then another couple thousand for reserves and whatever else.