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22 May 2024 | 13 replies
As long you can provide a reasonable story and supporting docs to persuade the underwriter that you are buying this house in this state as your main primary house.
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20 May 2024 | 5 replies
This suggests strong demand and increasing property values, ideal for flipping investments.28304 also shows a demand for larger units (3-bedroom homes experiencing a 30.1% price increase), which supports flipping strategies that focus on providing more space at affordable prices.
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22 May 2024 | 0 replies
Survey of mortgage terms (click to enlarge):From left to right, 1.25 points, 1.5 points, 1 point but $41k in fees.Prepayment penalty: 5 years declining, none, 2 year lockout followed by 10 years defeasance.Commentary/review/discussion: I tried to provide three very different options here, but all still real ways that people actually acquire such assets.
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21 May 2024 | 138 replies
I'd recommend contacting a few providers since pricing and service can vary widely.
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21 May 2024 | 14 replies
For example, Revocable Trust do not provide asset protection like LLCs do.
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21 May 2024 | 3 replies
Home insurance won't cover a lot of system failures like electrical.Home warranties are designed to make the warranty provider money; they are slow to respond, quick to reject claims, charge you a trip fee for every visit, use the lowest-cost vendors that provide quick-fix solutions, and are generally not worth the paper they are written on.
20 May 2024 | 11 replies
Buy the property for 100kPut 50k in rehab The hard money loan you took is for 130k (80% of purchase + the rehab)Property is now worth 250k Cash out Refi with a 30Y fixed DSCR 70% LTV (of the 250k) - Loan amount is now 175kYou just paid of the 130k hard money loan used to fix up the property and you pulled out your 20k initial investment + 25k extra cashThis is a perfect world scenario.
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22 May 2024 | 5 replies
If the tenancy is a specified lease term under a written agreement, and the lease term has not yet expired, you cannot impose a rent increase during the term, unless the lease agreements provides that you may do so.
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22 May 2024 | 6 replies
The company providing the warranty keeps most premiums as revenue and profit."