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30 April 2024 | 6 replies
I search on google but all I get are articles and lenders who require higher appraised properties.thank you
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1 May 2024 | 3 replies
Most banks and traditional mortgages "Do not" allow foe the property to be vested or quit claimed into an LLC unless it specifically states it on the closing disclosures.In most cases even on DSCR loans the Bank/Lender still requires you to sing a personal guarantee even if they allow the loan to be vested into the LLC.
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1 May 2024 | 9 replies
Some require you to visually read them while others have data output that could be sent somewhere.
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1 May 2024 | 1 reply
I am sure there are other things that would need to be done first.Someone posted about working part-time at a RE or investor's office, and I would be willing to do that for a fixed, short-term, like 6 months or so, but a lot of the job postings require a license.
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29 April 2024 | 23 replies
With our lenders, if the borrower refi's or sells the home they get refunded the remaining balance that the seller paid for the temporary buydown, since the lender holds it in their own escrow account.Its a dollar for dollar subsidy basically, seller funded to help the borrower the first couple years in the loan.
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2 May 2024 | 9 replies
While this may exempt it from being classified as a rental activity, active participation remains a requirement, necessitating compliance with three tests: spending 500 hours on the property, dedicating at least 100 hours (and more than any other participant), and performing all the necessary work needed.Additionally, long-term viability and consideration of depreciation recapture are important concerns.
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2 May 2024 | 18 replies
Every state has its own requirements for what must be included in a lease and then there are all the Federal overlays.
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30 April 2024 | 7 replies
Are there any Heloc/commerical line of credit options that don't require verification of funds?
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1 May 2024 | 4 replies
Both can work, the VA caller requires more training since they will not be local but are way more cost effective.Let me know if you have any questions.
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1 May 2024 | 16 replies
Could potentially be finished in a single day with a cooperative phone rep at the IRS, could take longer with an uncooperative one.Unlike normal tax preparation/planning however, form 2848 would require you to seek out someone with the EA or CPA certification specifically since the individual must be licensed to get the power of attorney status.