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24 February 2017 | 6 replies
I would meet with a few community banks to find out how long you have to season a property before refinancing.
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23 March 2017 | 1 reply
I foresee one potential issue with this strategy but I'll also give your a solution to it.The issue I see is that a lot of conventional financing, if that is what you use on the rentals, requires 6-12 months of rent seasoning before they will count the rent as income.
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11 April 2017 | 7 replies
Some will want to see __ months of bank statements to see if the money in there has been "seasoned".
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26 April 2017 | 3 replies
If you are renting it out a mortgage lender needs to have the property seasoned (6-12 months).
11 May 2017 | 8 replies
However, most banks like to see some property seasoning before they do any sort of refinance.My first suggestion would be to talk to local investors in your area to see who they are using to finance their deals and then go talk to those people/banks/institutions.
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30 December 2022 | 14 replies
@Sam Burchyett not necessarily Some lenders will require seasoning on funds (downpayment).
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28 December 2022 | 6 replies
However, the most significant influence tends to be the yearly seasons of winter, spring, summer, and fall.The social, economic, and political calendar of the United States operates based on the yearly seasons.
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28 December 2022 | 16 replies
However, I've begun using a CPA to help with my tax filings staring for the 2021 tax season and I pay him to navigate the rules and regulations of what is required.I have heard of CA pursuing "unpaid" taxes on out of state residents who have rentals or earn income in CA, so for my situation, it is worth hiring a tax professional to ensure I am doing everything correctly and am not hit with a bill 5 years from now from unpaid taxes + interest claimed by CA.
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29 December 2022 | 11 replies
The majority of new loan officers, especially right now, alternate between feast and famine, and right now it's famine season... virtually no one is refinancing, and home purchase transactions are down ~40%, with the 60% that remain not being anywhere close to evenly distributed [80/20 rule].I wish you the best of luck, but make sure you're going into it eyes-wide-open, and assume/plan it takes you six months to close your first deal (you will likely do better than that, but "hope for the best, plan for the worst" is always a good thing to think about).
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24 March 2020 | 8 replies
Transactional funding would provide funds in a double-close, just keep in mind your end buyer C probably couldn’t finance it due to lender seasoning laws.