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9 October 2018 | 0 replies
This is just the latest in an arduous process, to find the deal under market value on the land, rezone it to multifamily district (long and costly process), permit a six suite rental (difficult with many technical fire code and structural engineering challenges), build the units (using all my experience in home building and every possible favour and technique learned over the years to project manage), get financing to finish construction (from a private lender after the bank lenders totally dried up on this type of financing), and pre lease the units while under construction to quality tenants.
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10 October 2018 | 5 replies
You also may need a new certification of trust to take into banks and brokerage houses to show you have the authority over those accounts.
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10 October 2018 | 7 replies
I'm looking at a multi-family property and one of the closing conditions for the bank to approve the loan is an environmental form that they want the seller to fill out.The seller says that he would open himself to liability if he filled the form out and hence doesn't want to fill it out.The seller and his agent are very difficult to deal with (rude, abrupt, and generally uncooperative) and the only reason I'm pursuing it is because the numbers look good and it's a strong property.The bank says the only alternative to the form being filled out is to have an expensive Phase I environmental assessment done.Are there any other alternatives to this?
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8 November 2018 | 100 replies
I then started managing bank owned properties.
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10 October 2018 | 2 replies
You would likely incur some type of prepayment penalty IF the bank would even allow it in the first place.
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20 October 2018 | 16 replies
How to set up and link a legal trust as a member to your SLLC so that the transfer of properties into your company is done smoothly and correctly without issues with lenders or banks, etc etc, same reason you don't DIY your own medical issues.
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10 October 2018 | 1 reply
Would a good 1st move be going to the bank just to see what I would qualify for in say a 203k loan?
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20 October 2018 | 14 replies
The wife of one of the partners works at a bank and helped with the original mortgage origination process.
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10 October 2018 | 1 reply
i am buying from the sheriff foreclosure sale. i am doing a title search, and i see the following ; judgement obtained by chase bank on 1/26/2018, and it was later assigned from Chase to VRTG ASSET TRUST on 9/21/18.
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11 October 2018 | 2 replies
And all the banks I approach ask tax returns.