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14 January 2025 | 23 replies
Also, I believe I saw somewhere that the mortgage won't count against the original owners DTI after a period of time if they show someone else is paying the mortgage.
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28 January 2025 | 7 replies
With current interest rates, and they are at least 1% higher with potentially additional points for non owner occupied property, it is hard to find properties that will allow for positive cash flow after paying the mortgage, if you are looking for money for the down payment from a private lender, those are normally at higher than market and I am not sure it would be possible to pay it off.... please remember you need to take into account that you may not have a tenant for a certain amount of time, a tenant may stop paying rent, or you will have a big ticket item to fix, so I would wait if I were you and save to have enough for the down payment and closing costs and perhaps some money set aside for repairs. you also want to make sure that you have your own emergency fund outside of the money needed for the investment property because life happens ....
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15 January 2025 | 8 replies
It's the concept of buying the debt attached to the mortgage rather than buying the house.
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23 January 2025 | 5 replies
This means you can sell, lease, or pass on the property as you see fit, just like any other property owner.Full Ownership RightsYou have the same rights as a Mexican property owner, including the ability to sell, lease, transfer, or mortgage the propertyLegal SecurityThe Bank Trust is a well-established legal mechanism in Mexico, ensuring your investment is secure and protected under Mexican law.Renewable TermsThe trust is set up for 50 years and can be renewed indefinitely, allowing you and future generations to maintain control over the property.Estate PlanningThe trust makes it easier to pass the property on to heirs, simplifying the inheritance process and reducing potential legal complications.Although the process might initially seem complex, it is entirely managed and supervised by a reputable banking entity.
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16 January 2025 | 2 replies
@Jordyn Ohs Assuming your heloc is re-advanceable and the rate is higher than your mortgage, I would suggest you pay your HELOC down as quickly as possible with any cash flow from the properties.
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23 January 2025 | 39 replies
In real estate, I don't change locks, screen tenants, evict tenants, inspect properties, or finance my deals - I have property management, property inspectors, and mortgage lenders that do this for me (outsourcing).
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2 January 2025 | 18 replies
In 1972 the 30 year mortgage interest rate was 7%.
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19 January 2025 | 13 replies
I just go in at the first of every month and code each line item to the corresponding property and note what the expense was for (Repair, HOA Fee, Mortgage payment, etc).
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14 January 2025 | 4 replies
They do not want the other person's name on the deed or the mortgage once the dirvorce is finalized.
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16 January 2025 | 6 replies
Personally, I bought a 3 bed single family home soon after starting my job and had two friends from college rent which covered my mortgage plus a little extra.