I own a property mortgage free.

Louis, so if you ever need certain recommendation to help you get started (lenders, agents, contractors) I'd be happy to help.

However, the investor owes more on the mortgage than the properties are currently worth.

Lenders will want to see 6 months to a years worth of mortgage payments in reserves after closing.

On a $1m mortgage, 6% is a $5995 P&I payment.

This investor let me know that since I have a track record of buying 3 properties, that the hard money lender will give the investor a better rate and add less points if I help.

When shopping for such a policy recently, after looking at tons of them for clients I worked mortgages for, I chose to avoid the priciest options like Proper.

There are some construction loans that will fund up to 90% of the build costs with qualifying income but again my debt is just so high because of these other mortgage payments on my credit.Somebody help give me the answer I'm looking for so I can create this unique stay!

Purchase price: $190,000 Cash invested: $25,000 Bought this property using HML, total cash in is actually $87,000 including the down payment and lender fees.

Technically (although rare from what I hear), when you transfer your property into an LLC, that is technically a different owner, and the lender may call the loan (meaning you have to pay it back). 2.