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19 November 2024 | 24 replies
Also you can see their overall productivity.
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26 November 2024 | 17 replies
Also, be sure to consult a CPA about the timing of transitioning properties to an LLC to avoid potential complications with financing or taxes.Take time to compare multiple lenders and products that fit your strategy.
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25 November 2024 | 36 replies
Two business days after that I get an email saying they received my info and will pass it along to the "product team" to process the request.Later that day I get another email asking me to verify my identity again.
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23 November 2024 | 38 replies
Pick them based of production there bio back group etc.
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23 November 2024 | 10 replies
I don't agree with your lender that you have to live in the property if you are using a conventional loan, but depends on what product they are giving you, maybe a work around for that.I would not purchase based solely on what income you can derive from STR.
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21 November 2024 | 16 replies
You can certainly buy the property in the name of the LLC but you'll have to use a DSCR product which will have an interest rate that's 1% higher than conventional.
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21 November 2024 | 8 replies
Is there a combination of lending products and tactics you see that can make it possible to refinance after possibly 2 years and get out a large enough portion of funds to use towards the downpayment on another property?
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20 November 2024 | 25 replies
Quote from @Saint Kyle: Here's an examplelooking for rehab funding on a triplex in youngstown, oharv $130k rehab $70kdo you know of a bank that's willing to loan on a product like this?
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21 November 2024 | 10 replies
Another way is to switch your product from 30 year fixed to a 5/1 ARM so now you're taking program or financial risk to arrive at a lower rate such that you can pass this FHA SS rule (5/1 ARM FHA has a lower rate by up to .50% than the 30 year product typically).
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20 November 2024 | 6 replies
It depends on the lender but at a min they must follow TX SML or lending laws in the state in order to compliantly lend in TX, on whether choose to apply this guideline to all types of occupancies or transaction types (non owner investment, second homes/primary residences, etc)80-85LTV on rental properties is only on the purchase for fannie/freddie loans but on rate term refinances its max 80% and cash out max 75% for 1 unit and up to 70% for 2-4 unit cash out conventional.On HELOC's and rentals are up to 70-75% depending on the HELOC investor or product.Its good to distinguish between what the lenders are willing to do and for which product and also these loan products must abide my state law as well as an additiona layer of "overlays," on top as well (whichever is worst / most conservative).