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14 July 2018 | 3 replies
There are programs for you to qualify for this but you need better credit and more down.
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6 November 2019 | 10 replies
But you'll get to establish a relationship with a local bank (or several) and potentially open the door to obtaining a business line of credit down the road once you have built up trust with the lender.
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11 July 2018 | 5 replies
Lack of income, or a history of evictions.Any suggestions on what could help this situation are appreciated.
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16 July 2018 | 5 replies
The Line of Credit will have an adjustable rate.
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11 July 2018 | 5 replies
You could then perhaps pull a line of credit(which is great because you pay no interest until you actually use the money) and go find another one.This is what I would do(multi-family) if possible...but different markets will require slight tweaks in your strategy.
12 July 2018 | 6 replies
I also should mention that I have not saved a down payment OR that I am in the process of rebuilding my credit and although I have come a VERY long way I have average credit at best .
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12 July 2018 | 2 replies
Once it’s seasoned after 6 months, refinance through a local bank or credit union.Now, I am a fairly new investor with my real estate license and a few units under my belt but I recently left a regular 9-5 and want to see what my options are in order to refi on the property with no W2 income.
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15 July 2018 | 1 reply
My advantages that I know of are my ability to get a mortgage (W-2 income, credit, and debt ratio are all good), having enough cash and house equity to get a 25% down non-occupied loan on a SFH or duplex (in my market), willingness to sell and move to house hack a 3-4 unit, understanding the fundamentals and math of small residential REI, love of learning "systems", and being a complete badass at life in general ;)My disadvantages that I know of are that I don't have experience yet in buying/managing rentals, and I haven't met enough other investors to learn about a lot of deals early in the pipeline.What would you do in my situation?
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18 July 2018 | 14 replies
-Sell them off on Rent Credit or Lease Option.
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17 July 2018 | 38 replies
My response to their question is always truthful: We manage this place professionally with credit checks and employment verification.