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6 February 2024 | 12 replies
We did a quit claim deed on a rental property last year from our personal name into an LLC here in Texas that we wanted to take a DSCR loan on and the lender made us go back and use a warranty deed before they would close on the loan.
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5 February 2024 | 13 replies
You still earn money in your financial assets and our lenders have backed off 1% point on their rate.
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5 February 2024 | 25 replies
If you're considering a loan under DSCR the building would have to cash flow to be approved under lender requirements.
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5 February 2024 | 12 replies
Again, you absolutely need a good agent, a good lender, a rockstar property management company.
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5 February 2024 | 14 replies
UBIT is applicable when an exempt organization, such as an SDIRA, engages in a trade or business unrelated to its tax-exempt purpose.Here are some key points to consider:Non-Recourse Loan: If the LLC is using a non-recourse loan to acquire the property, it means that the lender's only recourse in the event of default is the collateral (the property itself).
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5 February 2024 | 6 replies
That works out, because the buyer generally has to get approved by a lender and that takes a little time too.
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6 February 2024 | 38 replies
Unless you have a solid team of realtor, contractor, and lender that you have developed trust with, the endeavor would be difficult to pull off well.That being said, I don't ever want to be the one to tell you not to try something, but if I were you and I was doing my first deal as a rehab, and my budget needed to be spot on, I would try and do it local so I could be there in person and turn it into a learning experience.
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7 February 2024 | 50 replies
The lenders will see their financial position and won’t give them a mortgage.
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5 February 2024 | 10 replies
I didn't know the name of the company they ultimately signed to us (they are more of a broker) until I looked it up in the escrow section of my lender's login.
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6 February 2024 | 63 replies
I was able locate POF from Hard money lender through referral on FB.