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5 April 2021 | 9 replies
Additionally, getting down payment assistance from an outside source can get tricky as well.
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29 April 2018 | 14 replies
They would bring the down payment 0f 20-25% from their SDIRA and the LLC would borrow the other needed funds of 75%-80% using a commercial loan that does not need a personal guaranty from them at all (since that would be a prohibited transaction).
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17 April 2018 | 5 replies
I told her no but as is the usual and customary practice the WD and DOT were.She said the first thing the the underwriter asked was if it was recorded and I said I'd never recorded the now and none of my other borrowers had any difficulty in refinancing.
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19 April 2018 | 3 replies
If the borrower is under water on the loan, then there may be a chance you can get a SS done but will need to convince the owner to work with you on this.
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17 April 2018 | 3 replies
The seasoning period of the lender matters = 6-12 months is most commonif you use delayed financing (for SFR) you can do no seasoning period but can only borrow what you put inI've had some 7 month BRRRR, and I'm currently doing one I think I can wrap from close to refi in <12 weeks total.Knowing the type of property, rehab, and finance strategy will allow you to narrow down your expectations quite a bit.
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11 October 2020 | 21 replies
You the borrower are personally 100% responsible for the payment, the rates are even based of your credit score.
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17 April 2020 | 4 replies
I’m not sure if you are looking for guidance in registering your property or for management services but I can assist you with both.
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22 April 2018 | 30 replies
We have plenty of hard money lenders in our state (I've borrowed from 15 of them myself).
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3 May 2018 | 95 replies
Can't wait till I get so busy doing this stuff I can occasionally stop by on breaks to assist others starting out with my experience
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18 April 2018 | 4 replies
Additionally, funds that reside in someone's individual bank account do not need to be sourced after 60 days*.As an explanation, a borrower would need to show two statements with the funds present subsequent to the statement where they were deposited.