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16 April 2024 | 2 replies
I see the same things from borrowers or those that take on mortgages.understand the concept.. but did not read much of the 30 page Mortgage document.Or read and understand the note.With so many of the larger HML or DSCR loans being backed or bought by wall street firms you know their lawyers are creating these documents and I suspect virtually no one reads every clause in them and or understands what they mean in relationship to the transaction and what your signing.
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16 April 2024 | 7 replies
This will impact your loan program, down payment, terms and conditions.
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16 April 2024 | 6 replies
Buy 4 more properties - one approximately every 3 months, based on the following logic = always fill existing property with a tenant prior to moving on (I'm new, and this is my way of managing risk); build resources to purchase next property (I have pretty decent purchasing power right now through conventional lending with my current job, and I also have a private lender ready to loan on my next property, and I also get a quarterly commission check that provides a nice financial bump every 3 months); finding a property takes time, but it is worth it to find the right property in the neighborhoods I want to invest in, at the right price.
15 April 2024 | 7 replies
Here is an example of the loan summaries that I utilize for my Baltimore clients, being careful not to exceed certain loan-to-ARV and loan-to-cost limits.
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15 April 2024 | 1 reply
We created an LLC together which was simple, the problems mostly came with the logistics of getting a loan.
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15 April 2024 | 1 reply
Life insurance policies - looks like it's best to start with several and cancel some of them as your debt decreases and you have long term loan positions with good cashflow.
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15 April 2024 | 4 replies
There are quite a few other options that you should consider before walking away, though.It sounds like maybe a fix-and-flip loan would be a viable option for you.
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15 April 2024 | 2 replies
You can look up cash buyers on propwire free, and reach out to the LLC owners by looking them up, or call the agent and ask them.Another option would be to find some private money lenders, and get them to go down on a hard money loan with you, unless you can get all the capital from one person alone (this is very difficult because most people won't loan that much to someone new to real estate).
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15 April 2024 | 4 replies
: Depends on how you will qualify for the loan.