Rita Casco
New Member Introduction
22 October 2018 | 22 replies
I plan to buy distressed or outdated single-family homes in DC area and Indianapolis below market value to rehab and sale.
Tony Rodriguez
Quitting my 9-5 soon and looking for banks that refi without W2
18 October 2018 | 30 replies
@Tony Rodriguez Assuming you are talking about doing flips, not buy and hold (since you mentioned you would be listing properties for sale) I am not sure if it is going to make sense to go through the time and expense of a cash-out refi.
Robert Vorhies
I made my first deal in 2000
27 November 2018 | 1 reply
I've been looking for houses for about 8 months. 1999 Market was on fire I put down several offers on homes people would come in with cash offers and get the property or there was a huge line of offer prior to mine.My aunt actually found the house that was for sale by owner.It wasn't in the best condition but I knew I could do the work and fix it up and turn a profit on it and it sure bet renting.
Charles Lecky
What are your thoughts on this private installment note in 2016?
16 October 2018 | 0 replies
Installment note terms:Principal sum today: $1.05mInterest rate: 5.1% for the life of the loanAmortization: 25 years (so about 22 years left)Prepayment penalty year 1 (this year) - 5%Prepayment penalty year 2 - 4%Prepayment penalty year 3 - 3%Prepayment penalty year 4-8- 1%One and only balloon of $26K due December 1, 2019.Simple due on sale clause.
Huey Martin
Liana Nissanova
What is in store for Toronto, Ontario housing market?
18 October 2018 | 5 replies
I think sales will be flat or decline a bit but inventory will remain tight.
Ayen Lee
Rental property under LLC,do I have to inform the Mortgage Comp?
19 October 2018 | 18 replies
If it was legally yes you are obligated and they may do a due on sale on you and make you pay it off.
Marc Whiting
Sandwich lease options
18 October 2018 | 4 replies
Of course, I would want a title search on the property to make sure their are no other liens that could affect the sale, but can you tell me if you have any experience executing this kind of sale?"
Daniel Long
Duplex vs single family
23 October 2018 | 7 replies
Keep it as it is for cash flow, until you are ready sale, then convert it back to SFH for higher price?
Eduardo Zepeda
How much should I tell them
17 October 2018 | 9 replies
Here's a summary of the economics.They purchased the property for $280,000 in 2004.The loan balance is about $178k.Monthly principal and interest payment is about $1,265 with $709 currently going to interestProperty taxes are $4,116 annually and insurance is $1,000.Currently the house is vacant for the sale so there's no rental income.Therefore, the monthly burn is -$1,135 (ouch).For the sale:Property was originally listed at $335k and they received 0 offers at that price.