Hard money: “The Pro’s and Con’s”ProAll CASH TransactionQuick Closing Times (<14days)All “Rehab Cost” are covered in LoanLower Leverage for Buyer and more LiquidityFlexibility to buy Distressed and Value-Add Properties Loan based on Property and underwritten so Borrower is ProfitableDoes not show up on Credit ReportNo “DTI” (Debit to Income Ratio)CONHigher interest rate than BankShorter Repayment Schedule (<12 months)More conservative evaluation of the Property’s Value Not doing your research and working with a “Bait and Switch” Lender (check out our post on this)      Real Estate is one of the most dependable and powerful ways to grow your wealth.

It is a portfolio loan not Fannie/Freddie backed.The property is not owner occupied.Obviously other costs apply: attorney, title insurance, prepaids etc.I have perfect credit and the property cash flows with debt.Does anyone know any lender who can do better than 4.25%?

@Bob Willis not closed yet, but disclosures show $2333 origination costs ($238 points, $1500 origination fee, $595 processing)$725 appraisal, $9 flood cert, $66 tax service$1125 for closing protection letter, endorsement fee, title insurance, settlement $95 recording $391 prepaids$961 initial escrowTotal closing costs $5705

Pre-paid rents are coming in with a few warnings from residents about being late.

I could see doing this for more favorable terms if it costs less than $2800 net of pre-paids and if it helped keep me under loan limits (4, 10) or to burden balance loans between my wife and I, ie free up credit for one of us. 

For Canadians, if your tenant wants to pay using credit card, I heard about this service where they can pay with debit or credit and they’d be charged a 1% fee, and the landlord would receive an e-transfer:https://www.getdigs.io/

(Example’s Below)Rent: $900 / 10% Discount: $90 / Total Amount Due: $810 Previous Balance: $300 / Rent: $900 / 10% Discount: $120 / Total Due: $1,080**** 1) & 2) **** Any tenant(s) who have already prepaid April rent will have the credit balance and/or prepaid discount applied to their account.3) WAIVED ONLINE CC FEES: ALL fees associated with online credit card payments will be waived.

The letter did not get sent to my 6 tenants on automatic ACH debit plans because they don't have email.

The tenant can click a link in the email (I can see if it's been opened or clicked), and the Tenant has easy options to pay (debit, credit, Apple pay, and bank transfer).

What i meant was that im building my stock portfolio as well as paying off the high consumer debit.