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6 July 2019 | 6 replies
@Austin MirerAs others have mentioned - refinancing is taking a loan on a property and not necessarily selling the property.As such, you do not have a taxable event in this scenario.
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8 July 2019 | 14 replies
Cash flow and holding property is the end goal but I haven’t found a scenario yet where Portland cash flows through renovating and refinancing, Let me know if you think different.
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8 July 2019 | 4 replies
@Oscar JuarezWe can assist you on your deal,we can use our Fix & Flip Gab Funding program that provides 100% funding for your construction and then you pay off the investor with the Refinance of your Residential Loan or we can assist you with the Refinancing through our Hard Loan program to get the amount you need for your construction.Let's connect to discuss.
12 July 2019 | 4 replies
But I may potentially have an issue if it comes down to refinancing due to timing of this whole thing (of course nobody is ready for a parent to die...) but because I am right in the middle of flipping another house, and although I paid cash for it, I have a bunch of "stuff" that may show up on a credit report (the HELOC I use for rehab funds, Lowe's, Home Depot, etc.) and am afraid my DTI might be getting tight.
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5 July 2019 | 6 replies
For example, a home I recently refinanced appraised at $70,000 as a 2 bed, 1 bath, but $80,000 as a 2/2.
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3 July 2019 | 4 replies
Hey Eric,The main issue with refinancing through an LLC is the rates are low, when they are even offered, by a bank direct to the LLC.
3 July 2019 | 0 replies
A year ago my wife and I bought a property in Long Beach Washington. It had an existing 1994 single wide and a large shop plus some land zoned to add another house or two. The goal was to renovate and rent out the M...
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1 December 2019 | 10 replies
If you plan on refinancing with a take out/conventional residential loan, an LLC will make that much more difficult and costly.LLCs have worked great for me with commercial assets but subject you to crummy commercial loan terms you'll have to personally guarantee anyway.
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4 July 2019 | 8 replies
I would like to invest 50K total in repairs for the whole property to make it really nice to attract quality tenants.I'm used to making as-is cash offers with my HELOC and then refinancing into a 30yr fixed mortgage with my local bank.
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5 July 2019 | 20 replies
In my case I also kept many properties without a mortgage for a while as prices were rising and refinanced later.