14 October 2018 | 2 replies
Decide for sure what your exit strategy is and have a backup plan in case something changes like interest rates going up or banks stop lending.
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13 October 2018 | 6 replies
depends on location, in a city they should be within .5 mi, in a suburb 1 mile and rural 5 miles but unique properties can be stretched further, I have done thousands of BPO's for banks, the rules were 3 listed and 3 solds, within 20% speck and similar condition, and make appropriate adjustments for differences, there is more art than science to it.
14 October 2018 | 2 replies
I refinanced back in 2016 and took out 35k to do a flip in Las Vegas which did pretty well which left me with 60k in the bank and 120k loan.
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17 October 2018 | 7 replies
My suggestion to you would be to just off load it as is, or speak to a bank to see what kind of financing is available (much like you stated before with a HELOC).
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13 October 2018 | 3 replies
I have 40% down payment and amazing credit score and credit history.The issue is that I am self employed and I dont show any income on paper, so the bank won't consider loaning me money due to "low income" This is an amazing opportunity and I have it under contract but I'm about 100k short, how do I get that financing to get to the closing table?
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13 October 2018 | 1 reply
Would the banks want the mold and belongings removed before they fiananced the deal, we are looking at a conventional loan with 20% down, priced around 105-120,000.
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14 October 2018 | 1 reply
Initially the bank used Zillow and wouldn’t listen to me about the houses value.
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14 October 2018 | 4 replies
Also, if you have a mortgage, talk to your bank before transferring.
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13 October 2018 | 2 replies
Do you know of any banks that will do that before the 6 month mark?
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14 October 2018 | 2 replies
You should be able to turn the free cash and deferred tax into $60 - $80K net of all expenses annually without banking on the back end and still getting depreciation the rest of the way. 3.