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18 September 2020 | 6 replies
Assuming that after you bought the 10th property, you still have all 10 mortgages, you cannot buy another investment property with Conventional financing (primary residences aren't restricted, you can buy a primary even with 10 financed properties).Once you hit the 10, you may have an opportunity to restructure your debt.
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18 September 2020 | 0 replies
With all these new restrictions they need my 2020 YTD and covid killed my business (I run my own company) so I’m 72% down from this time last year but my business had been growing significantly over the last 10 years. 2018 was almost as good as 2019 but I wasn’t thinking of real estate then so I claimed low pass through salary to keep my taxes low.
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7 August 2012 | 3 replies
Cherie Livni,Welcome to the forum.I doubt very much that the age restrictions (55+) will change in those communities.About 10K people in the USA, are reaching retirement age, on a daily basis.I would imagine that should increase the demand for those units.On Jan. 1, 2011, the oldest Baby Boomers will turn 65.
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12 August 2012 | 23 replies
As to my suggestion on regulation, I meant in lieu of the restrictions to seller financing in the SAFE Act, if there was a penalty for doing a bad loan, they would clean up their act and we wouldn't need the originator stuff as much, imo.
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10 August 2012 | 21 replies
the reason is that even the advertising is highly regulated and restricted.
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25 January 2017 | 10 replies
With REOs, you generally can't assign (no way around it), and specifically with FNMA REOs, you won't be able to double close either, as the addendum will likely stipulate that you have to hold the property for at least 90 days after purchase before reselling (deed restriction).While you could have another buyer on the contract and quit claim after closing, you'll need to have that buyer lined up before you make the offer (at least before you sign the final contract), as FNMA most likely won't allow you to add a buyer to the contract after it's binding.The other option is to purchase using a business entity or trust and sell your interest to the end-buyer at some point -- either before or after closing.
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6 March 2017 | 51 replies
Coinsurance is imposed on the insured by the insurance carrier for under reporting/declaring/insuring the value of the property.
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14 August 2012 | 1 reply
Now, the limit has been raised to 10, but there are still many banks that have their own overlays (additional restrictions) and will only lend up to 4.
17 August 2012 | 2 replies
First, keep in mind that there are a lot of things that will affect these numbers:- Size/scope of rehabs- Resale price point and buyer demographics- Length of permit process in your area- Length of closing process in your area- Deed restrictions on resale- Etc...That said, our average hold from purchase closing to sale closing has been 99 days.
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2 September 2012 | 7 replies
I believe the restrictions are "vertical lineage", if you will.