What’s a few extra zeros among friends?

It is too risky for them to have a mortgage with an LLC over an individual.It sounds like a good idea to have a seperate LLC for each property, but check with your accountant first because it costs extra for each seperate entity that needs to file taxes.

Guess the lender earned a profit there!

Gottadoadealitis is a very bad brain fever that causes smart people to take thousands of their hard earned dollars and promptly flush them down the toilet.

I mean you spent $265K for a rental... don't you don't want to pay an extra $265 for new instead of used?

. $212,000 loan @80%30 year fixed, fully amortizing using our Paper Saver process - like stated income but no charge for it6.375% would cost you 1.00% discount point - 6.532% APR$819.80 total lender feesIf you consider an 80/5/15 - where you put 15% down instead of 20%$212,000 loan @80%30 year fixed, fully amortizing6.375% would cost you 1.00% discount point - 6.532%APR$819.80 total lender fees2nd lien of $13,2508.375% would cost you 1.00% discount point ($132.50) 8.513%APRno extra lender fees on the second.So you save $13,250 and have an additional monthly payment on that second of $100.71 per month which means you break even in almost 11 years.

it's not just about reading books about real estate investing and asking questions about title insurance, appraisals and contract clauses.it's about going the extra mile.

They will also charge you extra to fill any vacancies.

There are so many ways to make money in real estate, why gamble with the ways that you could lose it all with.Michael, birddogging or referring properties to an investor does violate real estate licensing laws which dictate that you must have a license to earn a fee for buying or selling a property for someone else.

And even if you find a private/HML that won't care about what kind of reserves you have, it's still a very good idea to have the extra money at hand.