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17 December 2024 | 29 replies
Originally posted by @Michael Noto:We provide a fridge and a stove and also supply washer/dryer hookups but not the washer and dryer itself.As far as dishwashers go we only supply them in the better neighborhoods we have properties in where we feel the tenants have more of a likelihood to use them responsibly.
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11 December 2024 | 8 replies
Borrowers are not allowed to complete any of the work themselves as sweat equity.Loan to Value Calculations:The original principal amount of the mortgage may not exceed Fannie Mae’s maximum allowable mortgage amount for a conventional first mortgage.Purchase: For a purchase money transaction, the LTV is determined by dividing the loan amount by the lesser of the “as completed” appraised value of the property or the sum of the purchase price of the property and the total rehabilitation costs.Refinance Transactions: For a refinance transaction, the LTV is determined by dividing the original loan amount by the “as completed” appraised value of the property.Eligible Renovation:There are no required improvements or restrictions on the types of repairs allowed.
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18 December 2024 | 12 replies
The worst lenders I have dealt with are the ones with underwriters in one time zone and origination department in another, branch manager in another that don’t communicate well with each other and end up over-promising while not being able to deliver.
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13 December 2024 | 3 replies
Xactus offers soft and hard pulls for originators
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14 December 2024 | 36 replies
Originally posted by @Mike Miller:I got my license to write my own offers on my own rental properties I buy.
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17 December 2024 | 8 replies
Originally posted by @Ben Lindquist:Hello BP Community!
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12 December 2024 | 1 reply
This deal originally was supposed to happen in December 2023 but the seller wanted to wait.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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13 December 2024 | 2 replies
This is because VA loans are tied to the borrower’s personal ability to repay and require a creditworthiness review.VA Entitlement Consideration: If you’re assuming a VA loan, the original borrower’s VA entitlement may remain tied to the loan unless you’re a veteran eligible to substitute your own entitlement.2.
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12 December 2024 | 18 replies
If you listen to David Greene, he's hearing more and more stories about syndications struggling to keep up with their promises and a lot of investors are losing money, or pouring more money into the syndication to try and save their original money.
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16 December 2024 | 5 replies
If the information is out of date is there a follow-up book you folks can recommend so I can make up for the gap of this original version?