10 February 2017 | 15 replies
lenders just don't want or like landlord business, so they make nonsense up to turn away the landlord business they do not want in a way that does not violate the Equal Credit Opportunity Act (it is perfectly lawful to discriminate in mortgage lending based on "lack of time travel ability" as that is not a protected class).
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8 April 2019 | 14 replies
- to be financially successful in my opinion it requires integrity - honesty and the ability to be able to keep your promises to sellers -So many MOTEL trained - so called investors/wholesalers just don't know what they are doing - they don't understand contract engineer - making full disclosures............... they just want to rip off some fast equity from sellers.
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14 February 2017 | 6 replies
Ability and willingness to sign guarantees for loans may play a role in what percentage a particular member may want to take in the LLC.
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27 February 2017 | 52 replies
I'd say that is just being scared, they often point folks in the right direction without a bill, you might get limited advice (better than none) to guide you if you really can't afford for them to do everything, they can look over something and point out any issue, tell you what to do or fix it telling you your benefit and the cost.
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14 February 2017 | 4 replies
There is nothing fishy or illegal about this the ability to rent it.Now what is fishy is that you said she is renting to her sister.
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10 March 2017 | 3 replies
My partner has much more financing ability then I do and we agreed that she would help finance our first property or first few to help our business get started.My question is; If I find a multifamily that I want to purchase and she lends me the money for the downpayment, will I still be able to get a loan for the property?
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13 June 2019 | 24 replies
In essence you're exchanging the principal payments for the ability to reinvest that money into another purchase.Think about it this way - with the mortgage your ROI is 4.5% (cost of debt), BUT if you want to withdraw your own money you have to re-qualify and pay the bank to access your equity.
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15 February 2017 | 12 replies
Having a family is a definite detriment to your ability to invest in most relationships.
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15 February 2017 | 23 replies
Now, I find it hard to think that all of those people considering house hacking these properties had done their homework when making offers as we are seeing properties go above asking prices again.Now, if the numbers aren't working for me as a savvy investor whose play is to buy a four flat and keep one unit to airbnb/my friend and I to use when we come into the city, I have to wonder if all these house hackers are really considering what a swift economic downturn will do to their ability to keep the building.
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14 February 2017 | 1 reply
The benefit to me:-Potential cashflow w/ minimal investment-Ability to potentially negotiate lower selling priceBenefit to Seller:-Ability to find appropriate 1031 property and not be rushed by 1031 timeline requirements-Peace of mind that mortgage will be paid and he can sell wheneverQuestions:How would I calculate the correct lease price?