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26 January 2025 | 43 replies
I’m not sure who paid legal fees but they must have been significant.
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29 January 2025 | 40 replies
As they are getting paid to provide a service.
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7 January 2025 | 8 replies
Then connect with some hard money lenders (you can find some here on BP as well as some who are typing this right now) and connect with them to understand their product type, what they like to lend on and requirements.Hard money broker is all numbers game of making relationships and helping those that are looking for financing, it starts out slow but if you get with a few good borrowers and lenders it can be pretty decent money to be made.As an example we paid six figures last year to HM brokers.
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15 January 2025 | 11 replies
I knew that was not true because I had paid $780 a couple months before on a property in the same area and also my realtor told me that her clients had been paying that lower rate.
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9 January 2025 | 5 replies
To determine price range, the first step is always figuring our how much you are pre-approved for; and that can vary significantly when you are looking at multi-unit properties because of the additional variable of rental income that can be included in qualifying.
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16 January 2025 | 26 replies
I would advise you to get pre approved from your lender and make them aware as it will help them understand you are serious!
2 January 2025 | 2 replies
Starting the pre-approval process and it's been easy so far, but I do like to hear from people who have used a company before.
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7 January 2025 | 2 replies
HI @David SohnSituation 1: You don't pay for your brokers fee:In this situation you are not paying for a buyers agent and they would be paid via the seller.
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12 January 2025 | 7 replies
my condolences on your recent lost.there are a few ways you can do this, as mentioned above you can take a heloc on your primary residence which will give you a second mortgage, first mortgage payment wont be impacted. you can do cash out refinance which will give you one mortgage and payment. it will pay the old mortgage and give you money in your pocket to pay for the rehab.or you can do a renovation refinance which is similar to cash out refinance but we would contractor involved as part of the refinancing and they are paid through the loan
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27 December 2024 | 18 replies
About a week ago, the borrower came through, paid all past due payments, paid all the costs associated with the foreclosure, and the note is now current.I learned this strategy from one of my clients.