FHA loans follow very strict guidelines when it comes to property condition.

Just because the deal may not fit our criteria, there are many other syndicators that will.I finally decided to make that data available to other sponsors that easily makes up for the time/effort that goes into it.

If you’re paying off less than $800/mo on your loan id say sell come April selling season.

Unlike a mortgage the interest on your loan will not be tax deductible.

I know how to use the basic features of QBO, as I do my own expense tracking, but my Bookkeeper is needed for the more complex entries (Loans, capital balances, reconciliation, data entry from PM monthly statements.)I spend almost 8k per year in QBO and Bookkeeping costs (Not including my accountant or tax prep.)

Here’s some guidance to help with your next steps:Hard Money Loan: Hard money lenders can often cover both the purchase price and some rehab costs (up to 70-75% of the after-repair value or ARV).

Pay Down the Loan Faster:I’m considering applying $40,000 annually to the loan principal.

Experience depends on who you deal with - the cleaner the loan file and more organized your paperwork the smoother the process with any private lender.

I make loans on Memphis properties for investors.

It super easy you sign up to have a quick call and do a quick tutorial with a Rep and you receive a certificate that you give to the Banker/Loan officer.