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5 March 2024 | 10 replies
Anyone in the Charlotte / Lake Norman area working with a property management company they would recommend?
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5 March 2024 | 4 replies
In the event you were to proceed with what you are suggesting & there is a claim brought by a plaintiffs attorney, they will likely bring both the management company and the deed holder in as defendants making the litigation more complexed for you, the defendant.
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5 March 2024 | 12 replies
The Bank also communicates with the title company to order chain of title and require lender/title insurance.
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5 March 2024 | 8 replies
We used to do back to back closing with no money required but due to title company policies, lender disclosure requirements, and a variety of Federal and State laws this may no longer be practical.
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4 March 2024 | 8 replies
Gooseheads writes through multiple companies so they can search for a company to work with [email protected]
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4 March 2024 | 4 replies
The company I had just got sold and the new coverage is not ideal.
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5 March 2024 | 4 replies
A LOT of distrress is leading to mergers and firings, in just the last few weeks, this happened: (Big credit to @NewsLambert)Lower to acquire Universal Lending retail and wholesale operations (11/1/23)Trustar Mortgage acquired by Archer Mortgage, LLC (11/1/23)People’s Bank of Commerce to exit residential mortgage lending (10/27/23)BMO Bank cutting 228 jobs in Northern California (10/25/23)Homestar Financial to wind down operations (10/25/23)City National Bank layoffs in Los Angeles total 71 (10/23/23)Hometown Lenders layoffs (10/12/23)First Savings Bank to lay off 135 mortgage workers (10/4/23)Wesley Mortgage absorbs competitor Colten Mortgage (10/4/23)Cenlar to lay off 85 in Ewing, NJ (10/2/23)Rithm Capital to acquire Computershare Mortgage Services Inc. (10/2/23)Wells Fargo cut 525 jobs in South Carolina (9/28/23)Better Mortgage lays off additional employees (9/22/23)The Graystone Company has acquired Direct Mortgage (9/13/23)Flyhomes to purchase certain assets of Home Sale Assured (9/13/23)Divvy Homes to cut 95 jobs in San Francisco (9/11/23)Farmers-Merchants Bank to sell three branches to focus on core mortgage business (9/11/23)It goes on…..The mortgage industry is in a starkly deep recession.And RIP refinances, unless you are holding an even higher interest rate loan (like a construction/bridge loan or hard money, or perhaps you just fixed your credit.
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5 March 2024 | 12 replies
The most one our lender I saw do was 50% LTC for new builder with zero experience for their company.
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6 March 2024 | 12 replies
Many OOS investors set themselves up for failure because they don't invest the time to ACTUALLY understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.Class A is relatively easy to manage, can even be DIY remote managed from another state.
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4 March 2024 | 46 replies
No legitimate company will speak to someone like that.