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6 February 2025 | 2 replies
Credit pulls for the same type of loan within a short window (usually 14-45 days) are treated as one inquiry, so your score should be fine.
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14 February 2025 | 12 replies
But, I will say, if the pricing above is for a conventional loan and you have good credit you should be able to better in pricing.
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13 February 2025 | 10 replies
For example, I've used several banks for loans: Flagstar Bank, All Western Mortgage (a broker), PenFed Credit Union (HELOC), NewRez and probably a couple others I'm forgetting.
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12 February 2025 | 12 replies
You will report worldwide income on your federal and Kansas tax returns.You will also include the MO activity on your KS return.Your MO return will only include the acitivity within that state, which in this case, is the rental property.In the future, if you have income in MO(either through the sale of the property or through rental income), you will pay tax to MO but KS will give you a credit for any taxes you pay to MO.best of luck
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13 February 2025 | 4 replies
It may be worth letting them know about the prequalification requirements (credit score over xxx, salary above xx,ooo/year, etc.) in advance to weed people out.
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19 February 2025 | 17 replies
ACH transfers are free, but if a tenant wants to pay with a credit card they will get charged a fee.
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6 February 2025 | 16 replies
Assuming you go the HELOC route, another option to reduce your costs assuming you have decent credit is to look at credit card balance transfer promotions.Back in 2003-2004 I had HELOCs on my investment properties and interest rates were increasing.
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11 February 2025 | 22 replies
@Eric Huntermark Unless you're already independently wealthy, a conventional loan product (assuming this = bank/credit union loan), is going to probably be less attractive for you and most banks/credit unions don't lend to flippers.
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12 February 2025 | 4 replies
While they may not show up on your credit, they will ding you for credit checks.I operated for about 15 years before I set up a C-corp.
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4 February 2025 | 6 replies
You can work with a local credit union that does HELOCs, Home Equity Lines of Credit or Loans, on investment property.