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2 July 2018 | 0 replies
Everyone seems to recommend separate bank accounts for the business (as landlord, collecting rent, paying expenses, repairs, etc) and personal.My question is, since I live in the small unit (maybe 40% of the sq footage of the building) and rent out the other 60%, it's unclear which account I should use for the roof replacement that is going on right now.
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2 July 2018 | 2 replies
Banks usually require to use your personal name on the purchase contract.
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3 July 2018 | 19 replies
CorrectI was planning on talking to my realtor and see if the ARV is what I think it is and talk to the seller see if he takes 120k and also talk to a bank to see if I could de a cash out.Thanks Victor , I just might do that
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2 July 2018 | 0 replies
Hi thereI'm a South African currently living in the Cayman Islands looking to get into the US market.As a non citizen / non resident I am struggling to obtain 30 year finance at decent rates in the US.I am investigating the possibility of using finance from back home to cover the cost of a unit, then refinancing in the US to squash the mortgage back home and effectively backdoor finance in the US.Does anyone have any experience with this, and have any comments in whether US banks may be more willing to provide refinancing to an already purchased asset held by a foreigner?
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4 July 2018 | 6 replies
I’m a total newbie here and in the process of researching HELOC terms/rates from different banks for a line on my primary residence.
5 July 2018 | 4 replies
I heard on a recent BiggerPockets podcast that some investors use private lenders rather than going through a traditional bank.
2 July 2018 | 0 replies
When you are putting an offer in on a bank owned or foreclosure property what is the amount you should put for your EMD.
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2 July 2018 | 2 replies
@Chris Laino an investment in a flood zone is clearly going to cost you more because you'll need flood insurance as mandated by the banks.
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6 July 2018 | 2 replies
Our first rental in Odessa was financed by a local bank and is ready for market in just about 30 days.
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2 July 2018 | 5 replies
Without going too far into the math; if you assume the rate at which you demand growth in your own money is equal to the interest rate the bank is charging you then the value of he gross money you pay out to the bank into the future is exactly the same as the present value they are loaning you.2) What is really important to investors is their cash on cash return.