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23 September 2021 | 15 replies
In David Greene's BRRRR book, he suggested that it is better to wait and save up for a BRRRR as opposed to the speedier route and just doing a conventional loan on a SFH.Would you guys advise on saving up 100k on a BRRRR with a chance to repeat and get the reps of REI much more frequently, or use 50k on a SFH because it's less complicated and can be a good intro into REI?
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22 September 2021 | 2 replies
I am currently in the process of re-financing into a conventional 30 year loan so I can use my VA loan to buy another property.
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22 September 2021 | 1 reply
I've been able to use conventional loans (credit union) for my small multi-family purchases.
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23 September 2021 | 11 replies
im looking into other alternatives for purchasing as well as i currently do not qualify for conventional financing.
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23 September 2021 | 2 replies
Conventional through local credit union How did you add value to the deal?
24 September 2021 | 2 replies
Then we effectively double the # of conventional loans allowed. 3.
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22 September 2021 | 0 replies
Looking for a loan to build equity by adding an ADU or an addition to the house, refinancing by april/may into a conventional loan and hoping to take the PMI off.
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22 September 2021 | 1 reply
I want to refinance into conventional loan to get rid of PMI but my loan officer told me their max loan to value is 75%.
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27 September 2021 | 5 replies
Most conventional lenders do not offer such loans.Leading national providers include:First Western Federal Savings in SDNorth American Savings Bank in MOSolera National Bank in COTitan Bank in TXWhen an IRA uses mortgage financing, it will create taxable income in the form of Unrelated Debt Financed Income (UDFI).
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23 September 2021 | 10 replies
Here is my plan: - Purchase a distressed SFH using a conventional loan (5% down)- Live in that property for 6-12 months while rehabbing it- Cash our refinance - Purchase another SFH as my new primary residence and plan to live there for 3-5 years- Rent out the initial SFH and cashflow a reasonable amount - Continue to save money from working + build equity in the initial SFH- Leverage a 1031 exchange to sell the initial SFH for a distressed multi-family property (using my own savings to supplement the down payment)- BRRRR that multi-family property and keep repeating from there Here are my questions:1) Would I be better off forgoing the two SFHs altogether, and continuing to rent an apartment until I have enough money saved up to buy a multi-family property as my first investment?