Joshua Morgan
Need help financing 2x MFH properties
11 May 2021 | 6 replies
I can't think of a way for him to still leverage the 1031 exchange on the sale of Property B while doing seller financing (or otherwise me securing financing for the 2nd property with the limited available cash)My question is:Anyone have any unique or creative solutions for how to acquire both properties with the cash I have?
Jonathan Dempsey
Creative Seller Financing
10 May 2021 | 3 replies
However, the seller knowing my specialty, countered asking me for a proposal with more upside for the seller or to do a rental arbitrage.My initial offer was a 5% upfront cash payment, 15 year repayment plan at 4% interest and attempt to refinance within 7 years to repay the seller in full and secure more traditional financing.
Chris Huang
Buying property with HPD Violations
11 May 2021 | 2 replies
We had planned to renovate the entire place ourselves.List of violations:properly repair with similar material the broken or defective sheet-rock at east wall inside base cabinets in the kitchen located at apt 2fl, 2nd storyproperly repair with similar material the broken or defective ceramic tiles floor in the bathroom located at apt 2fl, 2nd storyproperly secure the loose base-molding at walls in the 2nd room from north at west located at apt 2fl, 2nd storyproperly repair the broken or defective counterbalance at upper sash south east window in the 2nd room from north at west located at apt 2fl, 2nd storyproperly repair the broken or defective counterbalance at lower sash south window in the kitchen located at apt 2fl, 2nd storyreset, so as to secure a proper and tight connection, the water closet bowl .."
Chris Huang
Buying property with HPD Violations
10 May 2021 | 9 replies
We had planned to renovate the entire place ourselves.List of violations:properly repair with similar material the broken or defective sheet-rock at east wall inside base cabinets in the kitchen located at apt 2fl, 2nd storyproperly repair with similar material the broken or defective ceramic tiles floor in the bathroom located at apt 2fl, 2nd storyproperly secure the loose base-molding at walls in the 2nd room from north at west located at apt 2fl, 2nd storyproperly repair the broken or defective counterbalance at upper sash south east window in the 2nd room from north at west located at apt 2fl, 2nd storyproperly repair the broken or defective counterbalance at lower sash south window in the kitchen located at apt 2fl, 2nd storyreset, so as to secure a proper and tight connection, the water closet bowl .."
Clifton Monte
Crafting our first offer on a home in Hawaii!
24 May 2021 | 10 replies
But, waiving all your rights to secure a property is quite another.
Drake Hill
Grad Student FHA Loan for a Four Plex?
11 May 2021 | 2 replies
It will be hard to secure a traditional loan without enough income to keep your DTI ratio in line with the requisite thresholds.
Alejandro Moreno
trying to build credit
12 May 2021 | 4 replies
Hey BP fam, i currently have a self loan through my own personal bank to help establish some credit now should i wait till its paid off to get a secured credit or should i get one already and also should i get another personal loan through another bank to build credit as well?
Robin Bradshaw
Retiring at age 65 and purchasing a home
11 May 2021 | 1 reply
If I can pay my expenses with social security income and medicare, would you recommend giving it a go?
Lyn Green
Does my Rider delete my "due on sale" clause"?
14 May 2021 | 4 replies
In reading my 1993 fixed/adjustable mortgage note (5/1) I have the standard paragraph 11 "Uniform Secured Note" statement that can trigger a "due on sale" clause.
Scott Luetgenau
Back in the saddle - Financing question
12 May 2021 | 1 reply
Source of down payment funds, if applicable: own funds, secured borrowed funds (HELOC).Income Source: Salaried FTE W2 until 7/1/21, 1099 independent contractor (healthcare consulting for 2 years)Gross monthly income (optional): $6KMonthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $1,400FICO: 696Credit issues: One late payment on a card recently, currently owe $4,700 in cards.