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29 September 2017 | 5 replies
Doesn't look like the cheapest or fastest way but could be an option if you need money and conventional lenders are not biting (and you are in a lower income area)...- area must be within 120% of national medium family income (found on USDA website)- rent plus utilities can be no more than 30% of tenants income- Rent is somewhat regulated for up to 20 years through loan covenants (even if you pay off early)- 5-10 yr loan terms with 15 year ammonization schedule, normally will finance if all payments made - rates between US Prime and no more than 4% higher than prime- will loan up to 90% LTV as well as construction loans (or both) with no pre payment penalties (Draws on Const loans).- 60-90 day closing time and higher closing costs than normal (estimate was 9-10k on 150k loan)- $500 application fee (however app ia reviewed before going to board and rejected before app fee is paid if officer feels it will not pass the board approval)- W2 income not needed. 3 yr taxes, business plan, 3 year business projections, weighted heavily on returns from property being purchased and its returns.
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3 May 2018 | 9 replies
This is the fastest way.
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17 January 2018 | 2 replies
They are fast, direct, and attentive to you needs when you send them a question.)Just had the fastest support turn-around with Sandra right now.
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23 May 2017 | 5 replies
@Shawn McKee I get the best deals at the cheapest prices by offering the fastest close with no exit other than for title issues.
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21 September 2021 | 12 replies
A real time line is around 18 months and 8 months would be the fastest I've heard and over 6 years is the longest.
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2 February 2024 | 52 replies
Would recommend you go where you can build a team on the ground and an area the area that is growing the fastest.
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21 November 2019 | 9 replies
If you can find a 2-4 unit property that would allow you to use an FHA loan, thats the fastest (cheapest) way to get started.
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20 July 2019 | 39 replies
Go if you feel like it is for you and not because of pressure, I did not go to collage and opened my own business at the age of 23 and made money that is getting me involved in RE now.So if I was you I would think “what is the fastest track for me to make money so I can start investing in RE?”
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28 June 2017 | 3 replies
Referrals from your local REIA may be the fastest option to find yourself a good investor friendly agent.
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4 October 2017 | 16 replies
The BRRRR is the fastest path to wealth.