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4 December 2019 | 5 replies
Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.
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28 March 2020 | 10 replies
Ask to speak to a commercial loan originator. 30YF will typically not be around, ARM with a 20 or 25 year term is what to expect.
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3 December 2019 | 3 replies
I have a local lender who will give me a 5/1 ARM on 80% of the LTV.The only thing he needs is a lease to ensure “proof of funds.”
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7 December 2019 | 17 replies
Terms (LTV, interest rate, ARM vs fixed, etc) will not be as good but may be acceptable.
4 December 2019 | 3 replies
Effectively this is a $0 Down, 5/1 ARM at 4.25%.
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10 December 2019 | 8 replies
You grant the lender an irrevocable power of attorney to control all your assets, sell them, tap into them - do as they please, while the lender explicitly disclaims (you release them from) all liability for any action, inaction or mistake they may make in doing so.
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4 December 2019 | 2 replies
5year ARM asking 25% down. which makes the payment 1400. i'm at 90% occupancy and collected about 4000. plus i still have a commercial garage to rent out for additional income. oh and it has 2 mobile home spots just waiting for homes. there was alot of meat on this bone. just have to make a 40 min drive to get it. thankfully the property already had a maintenance man who stayed on and is doing repairs as well as helping collect rent from anyone who might not be ready when i come down.
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17 December 2019 | 10 replies
If that addresses the issue explicitly, it would probably carry the day.It's unlikely that a lease would have a clause stating that if a landlord's work caused damage, the landlord would not be responsible - and therefore I'd expect the landlord to be responsible.Now, the landlord may be able to go after/bring in the contractor who did the work, depending on their contract and what exactly happened.Of course, for $300, we're not talking big money.
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26 December 2019 | 14 replies
I’ve armed myself with the knowledge to move forward.
12 December 2019 | 10 replies
They want an arm and a leg.