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10 January 2025 | 3 replies
Not having experience qualifying prospects I would think that the leads you would get from here, if any, would be..... challenging.
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24 January 2025 | 17 replies
Can you qualify?
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17 January 2025 | 24 replies
@Alicia Prokos (and anyone else in the same position) A 401k plan is a type of Qualified Retirement Plan, in which there are - at a minimum - 2 essential roles: Trustee and Administrator.Plan administrator – The person who is identified in the plan document as having responsibility for running the plan.Plan trustee – Someone who has the exclusive authority and discretion to manage and control the plan assets.In the overwhelming majority of plans, it is the business owner and/or the business entity adopting the plan that fill these roles.Companies that provide 401k administrative services are more aptly called "third-party administrators."
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11 January 2025 | 1 reply
They’re requesting what feels like an unreasonable amount of information, and the demands keep escalating.So far, they’ve asked for:A video tour of my home officeCredit checks on me and my partnerCopies of the deeds for every property we ownA copy of my partner’s home lease and utility billsBusiness phone billsA signed letter from the bank verifying our accountsBank statementsHonestly, it feels more like qualifying for a loan than trying to become a customer.
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19 January 2025 | 6 replies
I am gonna live in this multifamily, thus I think I am qualified as owner occupying.
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1 February 2025 | 14 replies
The best scenario for the buyer buying subject to is to have enough money and good enough credit to qualify for a new loan at current rates should the due on sale clause be invoked by the lender
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14 January 2025 | 11 replies
This will still qualify for a residential mortgage and you have a better shot of completely offsetting your entire payment.
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29 January 2025 | 32 replies
I’d say if you did 2 or 3 smaller MF deals on your own and they went well, I’d say you are qualified to raise capital to buy properties similar to what you have already bought yourself.2 or 3 smaller MF deals does NOT qualify you to raise capital and buy 150 unit deal.I believe in step by step progress slowly and consistently working up the ladder towards bigger deals.
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9 January 2025 | 9 replies
Private funding from a relative may provide flexible terms and reduced financial risk, but formal agreements are necessary, and interest paid is deductible for you but taxable for them.Traditional investment property loans offer stability and tax benefits like deductible interest and property taxes but require larger down payments.
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27 January 2025 | 56 replies
Several have mentioned utilizing low down payment second home loans for qualifying.