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20 February 2024 | 13 replies
It's interesting what people will do in acts of desparation.In my experience, lenders (specifically private lenders) will do what they can to work with a borrower to avoid foreclosure, which is a costly endeavor for the lender and requires time to process, usually months and months, depending on your state.Also, while an LLC is often considered a safeguard to protect personal assets, a lender using an LLC for multiple loans may have a substantial value to their LLC, which could all be at risk.Finally, if the wrongful foreclosure suit is legitimate and based on an error by the lender themselves, an attorney could logically sue both the LLC and the individual.
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20 February 2024 | 7 replies
A red flag is a warning for you to dig deeper.I recommend your offer to purchase include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).
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20 February 2024 | 5 replies
It's an asset based loan so most all the requirements will be dependent on the rent covering the debt so if you have cash but no stream of income it'll be the way to go.
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20 February 2024 | 7 replies
Others zones that to allow multiple apartments mayhave other requirements such as larger lot sizes, parking, etc. 3.
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20 February 2024 | 11 replies
If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.
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20 February 2024 | 24 replies
However, in appreciated markets, it requires a higher downpayment to cash flow.
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19 February 2024 | 14 replies
Lenders do not require earthquake insurance, at least not in California.
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19 February 2024 | 5 replies
Or does anyone know a lender that will not require wind cover and just allow hazard and GL since I also have to renew my loan
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20 February 2024 | 15 replies
Another factor could be whether you're renting to college students which usually requires extra "hand holding" by the PM.
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20 February 2024 | 15 replies
Despite new reporting requirements, such as those imposed by FinCEN, it's still possible to achieve a degree of anonymity with careful planning and the proper jurisdiction.