I’m not looking to be an active/public realtor, just need a place to hold my license.For context, I currently hold an active HI real estate license in good standing and have strong networks on both Molokai and Maui.

The bank will want something as a release of liability in selling the note to an individual or non-banking/mortgage company.

Our commercial loans are also with them so it would be great if all of our loans were in one place, but in order to refinance all of our loans with them now I’m guessing we’d sacrifice a few points on some of them and have higher payments impacting cash flow not to mention a lot more interest paid over the term of the loan which makes refinancing a non-starter unfortunately.

Your in the club espeically MF.. if you get teh license and can work for a commerical brokerage you are going to get looks at deals WAAAAY before most of the public.. heres how it goes in commerical brokerage.. first the agent trys to sell to his clients.

Areas of consideration:- Rehab to Rental- Flip to Public Market- Wholesale (If the deal comes with major equity and ROI incentives)If you are interested in joining the team, please respond below or connect with me through Bigger Pockets.Best regards,Drew Hantla

There in fact is no law in Texas saying you cannot have a HELOC on a non-owner occupied property.

Some examples of properties with high asset reclassification include medical clinics and hospitals with technical machinery and labs, grocery stores with machinery, shopping centers with rainwater drainage systems and large parking areas, industrial manufacturing facilities with advanced equipment, apartment buildings in suburban areas with swimming pools, golf courses, tennis courts and large parking areas for tenants.Here’s a list of the average amount of assets that can be reclassified into shorter asset life classes based upon the type of property.

Depending upon the severity of the issue we will follow that up with a 7-day non-curable notice and get them out.

What exactly would make a city board approve non-affordable (i.e. not Section 8)  apartments?

We put $75K down to begin with and likely have $85-100K in equity ( depending on what non-scientific source you check since I haven't had a full appraisal done) on it.