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12 December 2024 | 10 replies
Bankrupt brand names, Broadway shows, crypto investments.
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19 December 2024 | 22 replies
You have to purchase in cash and you can only stay in them 28 days per year because the HOA runs it like a business and leases the HRH name but you do own the deed.
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11 December 2024 | 3 replies
Any suggestions or names of companies that can do this type of job are greatly appreciated.
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11 January 2025 | 420 replies
"A mortgage by any other name...".
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11 December 2024 | 8 replies
Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.
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16 December 2024 | 5 replies
Hi all, so for the book (full name below) which is designated as the BiggerPockets Rental Kit, 2, is the information it holds still current?
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3 December 2024 | 4 replies
Walkable neighborhoods and mixed use properties are our preferred sweet spot.
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9 December 2024 | 5 replies
In my experience, you are thinking through this correctly.I've heard lawyers say, if the loan is in your name (which it has to be for conventional) and the deed is in the LLC, you aren't treating the business as an independent entity and in a severe lawsuit, the corporate veil is pierced and the LLC can be thrown out.I agree that one of the best defenses is to run your properties well.
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11 December 2024 | 13 replies
Quote from @Zachary Sakena: Yes, I would keep the property in your name.