Keilon Morton
Hard Money terms for partnership
7 January 2025 | 5 replies
I don't think you will get anyone to loan you money on tax liens/deeds.
Jared Haxton
Setting Up and Marketing 4.25% Seller Finance Deal
17 January 2025 | 7 replies
And if it were set up where everything went through a title company so the buyer pays the title company, they manage the buyer's loan (from me), and the title company ensures my mortgage is paid without my direct involvement... what parts of the transaction would feel risky or not worth the headache to you?
Graham Lemly
Financing Strategies for house I want - Hard Money, Rehab or Conventional?
4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
Grant Schroeder
Gratitude for Growth in 2024! On to 2025!
6 January 2025 | 0 replies
We set a record for our Team, serving 82 families and funding over $32 million in loans this year.We ranked in the top 5% of loan officers/teams in the entire Nation and top 3% in the State of Oregon!!
Eric Maxwell
1st time home buyer FHA live in flip
7 January 2025 | 0 replies
FHA loan through my mortgage broker associates.
Veronique Leroy
ISO 10+ residential units
24 January 2025 | 4 replies
I ran my own custom proforma for a bank loan using the asking price that would generate a cap rate over 10% and CoC just under 20%.
Bruce B. Lee
Hello, BiggerPockets! House Hacking Help Needed!
20 January 2025 | 2 replies
i wouldn't tell you where you should move since i don't know you.also, a lender would be in the best position to advise whether you qualify for a specific loan.
Shawn Tinerino
selling with seller financing
23 January 2025 | 3 replies
I would consider asking a slightly higher interest rate than market, because you are offering financing for a buyer that may not qualify for a traditional loan.
Allen Masry
what happens to 500k
23 January 2025 | 26 replies
Sell your car and get a loan on a new car.
Jacqueline Wright
Ready to Dive into My First REI Purchase—Auction Property with Hard Money or DSCR? An
23 January 2025 | 3 replies
The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?