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13 January 2025 | 14 replies
One, you might want to consider Seller Financing (in Michigan, we call it a Land Contract) which can allow you to buy property while using the Seller as Banker; not all Sellers are open to this, but it can be beneficial to both the Buyer and Seller.
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20 January 2025 | 23 replies
As a former banker, you may be able to do a cash out refi on your existing properties to fund part or all of the purchase.
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6 January 2025 | 4 replies
Make sure you talk to a Banker or Loan officer that is well versed in both SE (Self Employed) income and also Non/QM programs.One tip I will give you as a Banker is open up a "Business Checking account" and for the next 12 months pay "Everything" out of that account.
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6 January 2025 | 5 replies
Do we have trusted advisors, brokers or community bankers within this platform who would like to work on this?
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16 January 2025 | 6 replies
Don’t ever tell your banker you plan to live there.
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11 January 2025 | 13 replies
Your particular lender is likely a mortgage banker with few options to farm it out to.
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9 January 2025 | 16 replies
Brokers have their place in the industry as do retail banks/mortgage bankers.
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21 January 2025 | 20 replies
I'd talk to a banker anyway to see what they might be willing to work out with you.
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17 February 2025 | 69 replies
Your banker isn't going to collateralize the land at Subdivision value, but at say farm value.
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12 January 2025 | 6 replies
As well as seasoned Banker/Loan officer that can run the proposed numbers to see where you need to be LTV/ARV and number wise.