27 March 2018 | 2 replies
The percentage depends on the deal and the type of deal it is, whether they're lending on the asset (purchase price) or the post rehab ARV.The asset based lender will lend around 80% of the purchase price (after their own appraisal of the value), leaving you to cover the remaining 20%, any closing and carrying costs, plus the cost of the rehab.
22 March 2018 | 2 replies
My current hurdle (and I'm imagining this to become more prevalent with the federal limit on property tax write offs) is that our exposure with the LLC. having a free and clear asset is large and homeowners insurance is denying us when I ask for a LLC.
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22 March 2018 | 1 reply
Depending if you have enough time before the sale, you could sell one of the properties that you believe you can recoup the $200k - even if that means selling at a discount to obtain the cash quickly.With that cash, you can pay off the other liens and still keep the 5 of 6 properties.
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23 March 2018 | 3 replies
Otherwise, there are generally no strict caveats here as long as you get the proper advice on moving the funds an setting up the correct entity for ownership of the asset.
22 March 2018 | 1 reply
RE agent shows the transactional side, but to this date 1500 homes later, 15-20/mo...I've never once wanted or obtained my RE license.
23 March 2018 | 3 replies
Does anyone have advice on how you obtain ownership after you pay the lien, how do you actually bear any interest in the property?
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22 March 2018 | 0 replies
I have a couple thoughts and wanted to see what this wonderful communities perspective/ advice is.I am 29, recently married and no children, I have no dept, the only asset I have is my vehicle I have 750+ credit.
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25 March 2018 | 7 replies
Possible in a one off scenario, but as a rule of thumb you want to buy your assets below their value, not above.
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22 March 2018 | 2 replies
Does that mean that lenders of a traditional loan on investment property in a Non Recourse state can not go after personal assets except for the collateral property in case of default?
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25 March 2018 | 6 replies
Too date I have not seen one succeed in obtaining the financing they were looking for.