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3 July 2024 | 3 replies
If “wholesaler” (used in the sense of contract flipping, not people who close on purchase and resell) were required to disclose in writing to home sellers that they are not purchasing the home, are only trying to “flip” the contract, and the sale will only close IF a buyer at a higher price can be found, would this eliminate the need (if a need does exist) for government regulations being enacted and or for “wholesalers” to be licensed real estate agents?
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4 July 2024 | 3 replies
Withholding would be required even if there was no trust or LLC involved.
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2 July 2024 | 10 replies
This has not occurred and as such I will now have second thoughts before doing any further expensive upgrades for an existing tenant.
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3 July 2024 | 5 replies
As I have always had an in house notary in my company.so the on line notary is new to me.. only thing i dont like is getting charged for it.. just like mobile notary I wont pay for those.. if the title company insist on it I push back ***** and whine and just tell them no way am I paying a mobile notary because its your requirement LOL.
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3 July 2024 | 1 reply
As a buyer, I'd want to see more on your expenses estimates.
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3 July 2024 | 4 replies
If you create a new partnership then you are not meeting the same taxpayer requirements of the 1031 exchange.
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1 July 2024 | 6 replies
There's ways to negotiate earn outs, build in soft costs etc. to help recoup the majority of your capital without the need to spend the time or expense on a refinance.
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3 July 2024 | 3 replies
Alternatively, look into renovation-specific loans like the Fannie Mae HomeStyle Renovation or FHA 203K loans as standalone products for rehab costs.FHA 203K LoanPros:Low Down Payment & Bundled Costs: This loan simplifies the process by combining the purchase and rehab costs into one mortgage.Cons:Interest Rate & Refinance Requirement: Higher interest rates and the need for refinancing could reduce your overall return on investment.Fannie Mae HomeStyle Renovation LoanPros:Bundled Costs: Like the FHA 203K, this loan combines purchase and renovation costs, simplifying the process.Cons:Interest Rate & Refinance Requirement: Similar to the FHA 203K loan, the need for refinancing to extract equity and convert to an investment property might add to your costs.I am a loan officer so I have some expertise in this area.
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3 July 2024 | 12 replies
With PMI, ultimately you just have to include it as an expense.
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3 July 2024 | 7 replies
**Higher Risk and Requirements**: Lenders may have stricter criteria for blanket mortgages, including higher down payments, reserves, and interest rates compared to traditional mortgages. 3.