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25 November 2024 | 11 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
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27 November 2024 | 7 replies
Take a look at the rents for both sides vs current mortgage payment (if any), new payment on the cash out or HELOC, taxes, insurance and HOA (if applicable).
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4 December 2024 | 32 replies
It seems these inevitably run into problems as the investment projections are not met, loses begin to pile up, SEC compliance issues are ignored, and numerous legal actions are instituted against the sponsor.
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25 November 2024 | 7 replies
Your credit score needs to stay relatively the same from application to closing.
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25 November 2024 | 5 replies
If changing your LLC name isn’t feasible, consider using a DBA for credit applications.
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25 November 2024 | 8 replies
Often you have to then chase them for application docs.
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21 November 2024 | 6 replies
It varies deal to deal, on one property maybe up to 65% LTV, but if you have more collateral the more likely they can make something work.For example, I've done numerous deals where we place a 2nd on 4-5 properties and the lender feels comfortable lending x amount of dollarsThese are very non traditional loans and no two will ever be the same.
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9 December 2024 | 98 replies
Hello BP,I’ve seen numerous investors preach to invest in bitcoin.
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25 November 2024 | 36 replies
I do like the application but obviously the customer support is lacking.
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22 November 2024 | 7 replies
This has worked for me numerous times over the years.