Gregg Truex
Can a DSCR loan refinance another DSCR loan to gain equity or a lower interest rate
2 March 2023 | 28 replies
With Groves Capital, for instance, bc we are both a correspondent lender and broker, we can pretty much do DSCR loans in every state except for New York (do to state regulations there).So, most loan officers who are working for larger brokerages SHOULD be able to do them in multiple states, but then depending on who that brokerage is set up with on the wholesale back-end, might still be limited to particular states as opposed to everywhere.I'd advise just asking whatever loan officer you prefer to use in your home state to double-check if they DEFINITELY can lend in the states you are active in, as to give you the correct answer they might need to check.
Justin Bautista
Does the number of rentals available concern you as an investor?
29 December 2019 | 5 replies
Here are some ideas for additional research in your market:- Determine your budget for purchase of a property and the corresponding location and monthly rental amount that you'd need to generate the return you are looking for.
Misael Carlos Vera
Buying Property without LLC
26 November 2020 | 132 replies
Then, you'd form the LLC that will take Title in the corresponding State withe anonymity LLC being the member.
Bryan Beal
COVID-19 vs. Basic Freedoms
30 September 2021 | 321 replies
Since there's no vaccine, and no proof this thing goes away like the flu, then at some point either everyone will have to get it and develop immunity, with a corresponding (likely shocking) level of death, or we will continue some form of this until there's an effective vaccine or better methods of tracing infected people to contain those with exposure.
Alyssa Feliciano
When investing out of state, how did you decide where to invest?
29 June 2020 | 114 replies
I also looked for landlord friendly areas (which roughly corresponds to red states on a political map).
David Sawyers
What is your experience with BRRRR?
9 March 2019 | 10 replies
@David SawyersHi David, results will vary largely based on location and corresponding numbers.
Misael Carlos Vera
Does anyone ever lose motivation?
3 March 2021 | 64 replies
That thing that has kept me consistent was writing out my goals and corresponding habits.
Andrew Perkins
Can real estate create happiness
30 June 2021 | 68 replies
I prefer the following:"Every man dies.
Jasmine Slivka
Real Estate Partnerships & Portfolios
26 December 2018 | 11 replies
I.E. title is in the LLC, mortgage documentation is with the LLC, rent payments to the LLC, etc.Doing otherwise creates a headache for tax purposes since most information is provided to the IRS with a corresponding EIN.Example in your scenario of having the title in the LLC but mortgage in individual names.You will file a partnership return reporting the rental activity however, the IRS is expecting to see the mortgage interest expense deduction on the individual return that is assigned to the mortgage; not the LLC's return.I would advise you connect with some portfolio lenders who will lend to an LLC.
Steven W.
Terrible Service from Mortgage Loan Officers?
17 October 2016 | 43 replies
There is a business saying that goes like this:We offer great service, great price and a great product, the catch is you can only pick two.With money center banks or lenders who have upline correspondent banks/aggregators the product is the same.