Andrew Pierce
Doctors Loan/Conventional Loan = You Must Occupy the Property forever?!?
8 December 2024 | 10 replies
they will lose a ton of interest on 5.5% loan if we refi with someone else, but it would likely be 7% so its a lose-lose, they will lose our business and it could be in their favor to just drop the abusive term, ridiculous that a conventional loan doesn't let you keep the place after moving out. never saw that coming and this type of "pulling a fast one" is exactly why the other buyer who couldn't be present on closing specified that the power of attorney for signing closing documents was limited to exclude anything unnecessary.
Nate Jenks
Fixed vs "first responder" Adjustable rate mortgage.
11 December 2024 | 10 replies
Financing provided through this program is only available for properties located in Michigan or Florida.Available Product Type: SOFR 7/6 ARM, SOFR 10/6 ARMLoan Amount: $766,550 MaximumLTV: Purchase and No Cash Out Refinance - Maximum 99%Prepayment Penalty: NoneLoan Assumption: NoneEligible Properties: 1-unit dwellings, attached and detached condominiums, PUDsEscrow: An escrow account must be established for property taxes, and flood insurance, if requiredUnderwritingNo Private Mortgage InsuranceOccupancy – Primary residencesMinimum Credit Score - 700DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)Student Loans – If in deferment, no qualifying payment requiredDown payment of 1% must be borrower’s own funds, while closing costs and prepaids may be gift fundsAttached condominiums require a 10% down paymentEligible Borrowers – Protect and serve heroes are defined as employees of public or private education institutions, employees of medical and healthcare organizations, all first responders, and active or former military personnel.Servicing: Retained
Benoy Varghese
Taking over property with Tenants
6 December 2024 | 2 replies
For me, this means I provide them with the pertinent telephone number to contact me, the name and number of my contractor, and my email address.
Dongzi Wu
Outstanding Real Estate Solutions Scam (ORES)
28 November 2024 | 184 replies
There is a link in the email, you use it to download all the documents from Charlie.Regards, Hi Dongzi, thank you for sending it to me.
Esther Joseph
HOW TO BE A PML? Here's what I share...
5 December 2024 | 1 reply
Understand the basics of private lendingResearch real estate marketsDetermine your investment strategy and criteria for loans, including:- Amounts- Interest rates- Repayment termsCreate legal documents with a lawyerNetwork with real estate professionalsPerform due diligence on potential borrowers and their projectsBegin with smaller loans to gain experienceMonitor your investments closelyConsider joining a private lending group for additional resourcesStay informed about real estate trends, lending practices, and legal regulations
Jamie Parker
Whats more important: $100,000 or 10,000 calls?
15 December 2024 | 9 replies
Offer accepted, "My I have an email to send you a purchase and sale agreement via Adobe Sign" Offer rejected, put in the follow up bin.
Pamela M.
Tenant vacates property before december 1 without notice. Lease is till August 2025
5 December 2024 | 34 replies
In the meantime, put the tenant who broke their lease on notice that they have violated the terms that they agreed to in the lease which is a binding legal document.
Kerry G.
What are good resources for short term rental laws
5 December 2024 | 10 replies
I found the code and zoning department for my community and am in email correspondence with them.
Michael Izbotsky
Quit Claim into SMLLC - Need to be Married SMLLC? (Community Property State)
3 December 2024 | 6 replies
I just don't want to go through the hassle of updating documents, filing a statement of info, etc.
Maria Jeanette
Hello BiggerPockets! New PRO here
9 December 2024 | 16 replies
A link to FilePlace is at the bottom of every page, making it easy to find.If you have technical issues, email [email protected], and someone will help you.