Lynne Hart
Missouri - Buying an occupied multifamily, what can change?
29 May 2016 | 3 replies
(not wanting to kick anyone out, but may want to adjust policies)- If someone is in a unit on a lease that expired a long time ago, I assume we can put them on a new lease after close.- Even if we didn't change policies or terms, can we update the existing leases to the buyers preferred contract if the basic tenant cost and amenities, etc don't change?
THU NGUYEN
Using Money to Buy/Rent Out or Lend out as Private Lender
28 September 2016 | 24 replies
Here they are:Benefits of a “friendly loan” 1)You can refinance rate and term loans immediately.If you buy with cash the current industry standard requires a 6 month hold before lenders will allow you to refinance.This may not be true for all lenders so ask your lender prior to your purchase if they require 6 months seasoning before a cash out loan can be obtained.Lending requirements change all the time so what is true today can change tomorrow.If you it takes 45 days to get the refinance loan, you can refinance potentially 4 times faster than getting a cash out loan if you have to wait for 6 months.Naturally you don’t want to refinance until repairs are complete to get full loan value so reality has a time delay to make repairs, but will still be much faster.2)You have as little money left in the deal as possible, potentially nothing after refinancing if you buy at or under 80% of value if you refinance the loan at 80% of appraised value.Compare this to buying with a conventional investor loan which requires 20% down payment and the loan amount is always the lesser of purchase price or appraised value.
Earl Jornales
The multiplex - the first one, how do I move this mountain?
29 May 2016 | 4 replies
And your agent and you will no doubt have a condition of one unit (in 2-4 until property) being vacant (and even a walk through) prior to closing.
Daniel G.
Buyer's Costs
3 August 2016 | 10 replies
I typically see seller to provide a basic owner's title policy.
Greg Brown
First Real Estate Transaction - Chase Short Sale
2 June 2016 | 2 replies
I've read that Chase implemented a 30 day short sale evaluation policy as of late 2015.
Angelo Webb
LIHTC construction
3 June 2016 | 1 reply
Yes, it's a complicated application process whereby you apply for the LIHTC prior to construction.
Sharika L.
El Paso, Tx new investor
31 May 2016 | 15 replies
Hello I am prior military, im also looking for investment properties in EL Paso TX.
Tanner Henry
Newbie from Annapolis, MD
31 May 2016 | 3 replies
I would love to have the first rental home paid off prior to building.I have a goal of owning enough real estate properties by retirement age to give us a passive income of inflation adjusted $12k/mo.
Samantha Coppinger
Closing issues due to illegal electricity
31 May 2016 | 6 replies
I had called them two weeks prior to find out usage since the current landlord "pays" for the tenants electric bill.
Don Enrique
Tax Liens in Renville County , MN
20 February 2016 | 5 replies
Thank God the insurance policy did not exclude mold/water damage.