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11 March 2024 | 22 replies
Hi Chrissy, You may run into the 6 months seasoning required with most lenders.
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12 March 2024 | 9 replies
I would say go the owner occupant loan route to get into something for 3.5-5% down instead of 20-25% that you'd need with an investor loan, but those require you to live in the property for a year before you could rent it out.Airbnb could be appealing also since you'd already be furnishing the place for yourself, could just leave the furniture there after you'd move out.
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12 March 2024 | 4 replies
If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.
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11 March 2024 | 1 reply
They have very specific requirements of how much revenue they want to see on a monthly basis as well as the frequency of the deposits.
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12 March 2024 | 12 replies
We also felt the relative size and scope required would lend itself to a good first flip.
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11 March 2024 | 12 replies
Some things didn't change, such as the requirement that the property be on unplatted land, so that definitely restricts the number of eligible properties.
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12 March 2024 | 19 replies
I am also going to required annual increases in rent based on the CPI index, among a few other things.Does anyone have experience with this?
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12 March 2024 | 24 replies
but, we do have a work around for this in the states we lend.For non conventional products it is up to the individual program requirements.
13 March 2024 | 70 replies
Any insight or knowledge would be appreciated this way: A mortgage and note do not, in fact CAN NOT legally prohibit the sale of the subject property; nor can that document REQUIRE the announcement of that sale.
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11 March 2024 | 8 replies
Typically, you just require that the property be vacant for closing.