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17 May 2023 | 4 replies
As a first-time investor/rehabber, with your hopefully very accurate rehab and ARV numbers indicating a sufficiently profitable project, you should potentially qualify for 75-80% financing on purchase (i.e. 20-25% down payment) and 100% financing on the rehab cost (funded to a reserve account and available in periodic post-expenditure draws).
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4 October 2021 | 13 replies
Certainly wouldn’t rely solely on an LLC to protect me without carrying sufficient liability insurance first.
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6 April 2020 | 9 replies
Perhaps some of the names mentioned here would be sufficient, but I was wondering if anyone could recommend a CRE attorney.
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18 May 2023 | 4 replies
I called my lender to get an updated pre-approval to send with my offer, and he told me it would not pass the self sufficiency test requirement for an FHA loan?
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1 April 2021 | 83 replies
The state then investigates and determines if the complaint is "legally sufficient".
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24 January 2023 | 7 replies
However, you should report that income anyways.If you want to buy a triplex or 4plex though, FHA will use what’s called the self-sufficiency test, and sometimes that will make it harder to qualify.
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18 May 2023 | 11 replies
The reason is that FHA has something called a "self sufficiency test" for all 3-4 unit properties.
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15 March 2023 | 15 replies
I would be slow to try this unless I had sufficient reserves and a longish horizon.
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18 May 2023 | 3 replies
Please advise if you would like to proceed with paying off and closing your current mortgage.You would have to qualify for a loan amount sufficient to cover the payoff for the first mortgage.
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2 January 2020 | 12 replies
For lease violations, a 3 day notice before filing for eviction is sufficient.