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1 March 2020 | 38 replies
Each wrong move will be a red flag for u in evaluating the next 100 properties.
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20 February 2020 | 0 replies
Can you legally do this without raising any red flags?
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22 February 2020 | 1 reply
Books Ive already read or am reading:Rich Dad Poor Dad, The Little Red Book On Common Sense Investing, The Four Hour Work Week, Increase Your Financial IQ, Getting To Yes, Early Retirement ExtremeBooks I am set up to read next:The Millionaire Next Door, Think And Grow Rich, The Richest Man In Babylon, How to Win Friends And Influence OthersAny other suggestions?
24 February 2020 | 15 replies
Seems to me that can be a RED flag coming towards you.
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21 February 2020 | 1 reply
Equity, Debt/income, DSCR are all fine, I'm just curious if lenders red flags will go up if I do all these loans all at once with different lenders, the properties are in different states.
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12 March 2020 | 13 replies
A few red flags to watch out for would be:- Asking for a large loan application fee or other fees upfront - Unusually low interest rates for a hard money/private lender (real hard money/private lenders aren’t loaning money at 4-5% but fake ones usually advertise those rates)- Email communications with really bad English/grammar indicating the sender might be from out of the country- Claiming they loan nationwide in all 50 states (most non-bank, hard money/private lenders operate in only certain states and don’t lend nationwide)- Claiming they can do loans from $5,000 to $50 million (most lenders that will loan you $5,000 can’t do a loan for $50 million, and most lenders that can do a loan for $50 million aren’t going to bother doing a loan for $5,000)- Offering to send you a photo of their drivers license (fake lenders tend do this to convince you they’re legit but I guarantee you it’s not their license they’re showing you and a real lender would never do this)- Not caring about your qualifications or the merits of the deal (basically willing to “approve” you no matter what you bring to them since they know they’ll never actually fund it)- Terms that seem just way too good to be trueThat’s just a few things to watch out for.
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24 February 2020 | 4 replies
(red flag number 1)Once I requested for a closing statement or doc to review, there was no interest rate printed on it, no estimate of mortgage payment, the closing cost were a bit higher then originally agreed, and they had the wrong pay off amount there.
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21 February 2020 | 0 replies
(red flag number 1)Once I requested for a closing statement or doc to review, there was no interest rate printed on it, no estimate of mortgage payment, the closing cost were a bit higher then originally agreed, and they had the wrong pay off amount there.
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25 February 2020 | 9 replies
Atlanta is red hot and there are not a ton of small multifamily so they go real quick and for inflated prices when they do pop up.
22 February 2020 | 7 replies
Look for red flags like evictions, criminal history and credit score and can't verify employment.