Tracy Mattox
Selling First Rental w/$1700/mo Income Do I Reinvest?
19 June 2024 | 4 replies
Thinking instead of just buying another primary home, I will find something more affordable to BRRRR or Home Hack into another rental using as little down as possible and then perhaps purchase another rental or two.
Ember Meadows
Closing on a Wholesale Deal
18 June 2024 | 69 replies
Caleb Thurston there is the purchase contract between you and the seller.
Daniel Colon
Lender won't let me move the property to my LLC
19 June 2024 | 32 replies
Both FNMA and FHLMC permit this, under the following circumstances: Notes: For all such transfers affecting mortgage loans purchased or securitized by Fannie Mae on or after June 1, 2016, the transferee is not required to occupy the propertya limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.Citation: D1-4.1-02: Allowable Exemptions Due to the Type of Transfer (04/13/2022)Now, you will still have the Note and reporting in your name individually and will still be personally responsible for the mortgage and most likely, the manner of transfer will enable any litigant to pierce the veil of your LLC, but you'll have what you wanted, for whatever reason.
Deepak C.
Should I get a Property Manager?
17 June 2024 | 25 replies
Hi BP Community,I recently purchased what I thought would be a vacation home for us in San Diego, but instead deciding to convert it to a rental.
Chase Wright
New and looking to learn
20 June 2024 | 18 replies
Specifically, I recommend purchasing a single family house with as little money down as possible, and converting the property to a rent-by-the-room investment.
Andrew Hinspater
Good 30 Year DSCR Lenders Under 100K
19 June 2024 | 10 replies
This seems great, but I've found them to only lend 80% of the purchase price and to charge a hefty amount of points.
Don Konipol
Tax liens and Mortgage liens
16 June 2024 | 40 replies
Quieted title against everyone including SBA, I got the house free and clear.
Azmat Hossain
Looking to purchase a property in Turks & Caicos
14 June 2024 | 4 replies
Looking to purchase a property in Turks and Caicos kind of a family vacation or to Airbnb, your cities are looking to purchase at home international there's a first time looking to purchase a property outside of United States any help thank you in advance
Erik H.
Cost of building in Bryson City / Maggie Valley
18 June 2024 | 12 replies
Low end contractors here are quoting $200/sq/ft plus for the build alone and not including site prep or land.
Christine Okamoto
What to expect in terms of administrative labor for Lifestyles Unlimited
18 June 2024 | 2 replies
They will also include a spreadsheet showing projections on how the deal will work.