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15 July 2024 | 2 replies
For the week ended June 29, the nationwide inventory of homes for sale was up 38% year-over-year, with new listings rising 11% YoY.
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18 July 2024 | 31 replies
Price nationwide just keep going higher at least following CPI number.I have mortgage from my CU that was very unique where I can re-use the same mortgage and payment even if I move to different house/sell previous one, so the rate is following me.
15 July 2024 | 5 replies
If there are any disputes or outstanding payments to the OG Contractor, your replacement contractor will not get paid anything until the dispute(s) is resolved.You should really hire a Certified 203k Contractor.
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15 July 2024 | 1 reply
Our stock/bond portfolio is currently at around 30X expenses, plus we own our primary home with $200k outstanding on a low-rate mortgage.
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15 July 2024 | 5 replies
When you're fully ready for analysis check out the renter analysis tools and don't be afraid to post questions and ask for help, everyone is really supportive :) A good first step and great lending resource (super important in today's market) might be to check in with my lending guide and bestie of 20+ years @Joseph Chiofalo they lend nationwide and he's very patient with newbies and can help craft a workable plan towards portfolio growth.
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13 July 2024 | 24 replies
Borrower contact information (name, address, phone number, email) Loan details (account number, loan amount, outstanding balance, interest rate, payment history) Copies of loan documents Borrower Notice: The original lender should notify the borrower about the transfer and the information being shared with the new servicer.
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13 July 2024 | 6 replies
I'm also curious about this particular attorney - his book on the real estate law and asset protection in Texas is outstanding!
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13 July 2024 | 2 replies
Draw schedule to be agreed upon prior to closing.Term: 1 YearFee to Lender: 2.5 points – ($13,125 paid at closing from loan proceeds).Interest Rate: 11.5% Interest-Only billed monthly on outstanding balance.Interest Reserve: $15,000 – approximately 6 months interest, paid at closing from loan proceeds.Once interest reserves are depleted, borrower to make interest-only payments monthly.Pre-Payment Penalty: Should loan be paid off prior to interest reserve funds being depleted, a pre-payment penalty will be charged equal to the amount remaining in interest reserves at time of payoff.Loan 2: Loan amount 490,530.60Lender Points: 3%broker points: 1%rate: 11.99%Term: 12 months (interest only)Prepayment penalty: NoneProcessing fee needs to be wired before LOI can be issued
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14 July 2024 | 17 replies
Typically over 5+ units 25% down is optimal but 20% is possible..I don't think I'd recommend a property management company for your search, likely a multi family focused investor RE broker and strong nationwide lender.
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14 July 2024 | 6 replies
This ensures that your primary mortgage is settled, helping to alleviate the immediate pressure of foreclosure.Credit Line Payoff:In addition to paying off your lender, the refinancing solution also allows for cash out to address your outstanding credit lines.You can receive up to $15,000 per credit line, with a maximum of 9 credit lines eligible for payoff.