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27 April 2024 | 5 replies
It was a little frustrating because I'd been in communication with these lenders from very early on, sharing all details with them from the start and repeatedly remarking on the Trust ownership, and stayed in contact with them throughout the discovery process as I firmed up everything on my end, and now I have the plans, the contractors, the OOP funds, and basically everything else ready to get started within 1-4 months, but I'm back at square one re: loan.
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27 April 2024 | 4 replies
In the state/city these said parks are located two banks will finance with about a 20% down/balloon pymt type loan/15-yr amortization.
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29 April 2024 | 31 replies
Especially the ones that had adjustable portfolio loans.
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28 April 2024 | 13 replies
If so, you'd be looking at using a different loan type for that.Assuming you're the end buyer, then the fees depend on how you and your wholesaler worked it out.
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27 April 2024 | 6 replies
(online payment, venmo, cash/check, etc).Please provide proof of utilities paid on time and in good standing for water/sewer and trash/recycling.Are there any unresolved tenant disputes, outstanding repair requests, or complaints from any existing tenants?
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27 April 2024 | 19 replies
I would look up Deeds in your county recording dept online and search through the pages until you see one that has an entity TIC.
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26 April 2024 | 10 replies
But I've been accepting Venmo & other forms of online payments that go into personal accounts for 10 years now from dozens of tenants.
27 April 2024 | 2 replies
Loans from a bank are about 8.2% for single family homes.
24 April 2024 | 5 replies
Asking is $200K, my relative (buyer) looking to put 20% down.He is pre-approved for the amount, lender has prepared both a conventional loan and a mass housing loan option for first time buyers.Would be purchasing as an owner occupied "primary residence", rates are decent under both options.Condo is currently rented, tenant lease expires the end of August - roughly 4 months.Lender says both loan programs require buyer to occupy the unit within 60 days, to qualify for first time buyer deals.Is there a way to get them to extend this to 120 days (4 months) until the tenant lease is up?
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27 April 2024 | 3 replies
As we all know, Fannie Mae has come out with their 5% down, owner occupied loan for multifamily (2-4) properties.