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13 October 2018 | 3 replies
I have 40% down payment and amazing credit score and credit history.The issue is that I am self employed and I dont show any income on paper, so the bank won't consider loaning me money due to "low income" This is an amazing opportunity and I have it under contract but I'm about 100k short, how do I get that financing to get to the closing table?
13 October 2018 | 3 replies
Look on zillow for agents and search for agents that "say" they do short sales, foreclosures, etc.
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13 October 2018 | 2 replies
. $630,000 - 660,000Loan Balance: $470,000Rate: 4.75% on a 30 Year FixedGoal: I am looking to remove MI and take out some cash to pay off the short-term debts used to repair the property.It is my understanding that I have to wait 6 months to be able to do a cash out refi based on the ARV.
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15 October 2018 | 5 replies
My short-term goal is to be closing on my third property before I close on my business/finance degree.
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28 June 2022 | 13 replies
And it may be a coincidence but shortly after that my Facebook ad got flagged.
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22 October 2018 | 14 replies
I've had a few discussions about the best way to create a plan in order to "snow ball" your way to owning many REI properties (buy and hold for rent).After Googling around and even reading blogs on this site, I've thought about doing something like the following:Buy my first rental property (SFH) with cash (around $60-70k) where I'd expect about $500 cashflow per monthCurrently I have about $105-110k available (after taking out an emergency fund)Then shortly after, buy my second rental property (SFH) but take out a mortgage and put down around 25% on a $60-70k houseThe cash flow on this property specifically would likely break even (at or near 0) but this would be on a 15 year mortgage and I can use some (or most) of the cash flow from the first to help pay down that mortgage faster, along with my corporate job monthly savings tooI feel I could pay it off anywhere from 5 - 10 years depending on the exact strategy If/When I get the 2nd one, then shortly after that, try and get a 3rd SFH rental property and continue this snow ball effect to build up by rental portfolioObviously this is easier said than done, along with risks and I honestly do not have any real experience with rental properties as this is my first time diving into this type of investing.My main questions would be -- Has anyone done a similar strategy to help build their portfolio quicker?
14 October 2018 | 9 replies
We'd like to be able to pay off that debt and my wife's school in the short term.
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14 October 2018 | 9 replies
Both my accountant and attorney recommend separate LLCs for each, especially if I decide to use the single-family as a short-term rental.4.
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15 October 2018 | 24 replies
If short I will call the listing agent while looking at crimereports.com, zip code demographics, income.
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6 November 2018 | 4 replies
Check for restrictions for short term rentals.