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8 April 2024 | 51 replies
I’ve seen off market deals that relied on online estimates and missed the mark by half a mil.
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8 April 2024 | 8 replies
That, and lots of refi-only loan officers don't know what they are doing, but have been forced to offer purchase mortgages because no one is refinancing, so they just regurgitate FHA rules as if they were applicable to conventional, because they do not know any better.
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7 April 2024 | 8 replies
When you're ready to refi, you'll simply need to request a lien release from NACA (basically your mortgage agent sending over a bit of info to NACA).
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8 April 2024 | 4 replies
But I think what you said is huge, be in a similar spot now in terms of paying a mortgage or rent and get nothing out of it.
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8 April 2024 | 5 replies
(I assume you owe nothing, or at least less than 50% as your mortgage will have to be paid off when you sell, not when the buyer finishes paying.)My understanding is you sell $400k property with seller financing.
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7 April 2024 | 33 replies
A friend who is a mortgage borker has been telling me to split the capital into 2 and buy 2 condos with mortgage instead, paying 50% downpayment.
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7 April 2024 | 0 replies
Since we purchased it, we brought power back to the property currently set up as 2 RV hookups and additional outlets on a backer board (for a total of 200-amp service), had an RV pad and driveway put in, and had the developed year-round spring well brought back online - there will be a pump house built near the backer board this Spring (1st photo).
8 April 2024 | 3 replies
etc.Here are some other bullet points if you need more info:- The PA properties are owned free and clear, in my name- The PA SFH is likely to be a long term rental (renovations currently) and will net around $1,500-$1,700/month if I don't borrow against it- The NC properties have mortgages, and are held in my name- I have a lawyer negotiating the solar deal, and have not signed anything yet, but is nearly a done deal- Unsure if solar proceeds have to go directly to me, or can go to a business I own- I'm unmarried and investing by myself/no partners- W2 is between $70-$85k/year- I don't yet have an accountant, but am going to be hiring one and discussing strategy with themThanks so much for your opinions!
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7 April 2024 | 7 replies
We plan to use short term rentals to cover the mortgage/monthly payments but with the skyrocketing property taxes in that area, I'm concerned we may not be able to net enough.
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8 April 2024 | 29 replies
Use online resources, public records, satellite imagery, and neighborhood data to assess the property's potential.