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22 August 2024 | 18 replies
@Kumar R. just offering a referral fee won't get you much.It's just a cherry on top whatever cake you've been making in your market!
16 August 2024 | 1 reply
Quote from @Jaesung Jun: @Jaesung JunYou don't provide nearly enough information for anyone to realistically offer valid suggestions to you.House hacking involves buying a multi-family house.
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20 August 2024 | 452 replies
What would be our best strategy to get this house in my name?
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20 August 2024 | 2 replies
There are definitely pros and cons to each so I figured I would just lay out a few benefits and personal thoughts: Small banks/brokerages:Pros:- Some regional knowledge of the market- Possibility of more creative lending guidelines with bank specific programs- Sometimes they have competitive rates for their areaCons: - weak balance sheet (more strict on some guidelines, no wiggle room, inability to be flexible or grant exceptions because they cannot afford to hold less than perfect loans)- Can't scale with clients to different markets- Usually limits exposure to individual investors (they don't want one investor to be too big of a portion of their balance sheet)- Lack of experience with multiple solutions (tend to have 2 or 3 loan products they sell and are too niche to provide tailored solutions)Large banks/brokerages:Pros:- Large compliance departments that understand individual market guidelines (typically each state has specific lending guidelines that augment the national baseline)- Ability to scale into multiple markets with same lender (licensed in many states)- Impossible for individual investors to "outgrow" a large bank's balance sheet (not concerned with one investor's concentration)- More lending solutions available for different scenarios- Often comparable or better rates given the game is volume basedCons:- Can be more difficult to get fast responses if the bank/brokerage does not have good follow up systems in place (or if the underwriting/processing staff gets overwhelmed)- Bad large banks can feel less like a relationship and more like a cog in a factory (less personal)Overall, I have worked from both and worked with both as a loan officer, branch manager, and as an investor/client myself.
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20 August 2024 | 14 replies
Hey,I a house under contract that has structural issue, a pretty serious one.
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18 August 2024 | 13 replies
This is why MHPs with homes attached are so difficult to market.
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21 August 2024 | 3 replies
HOWEVER if you are Trying to ACQUIRE the property and the borrower on the Note is now deceased - the ONE Big question (among others) is How do you get marketable and insurable TITLE Transferred over to you SUBJECT 2 that existing debt?
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18 August 2024 | 3 replies
Well, they claim that their leads are better because the leads find them:The only way sellers find you is when you rank #1 or #2 in that market. the lower you rank, the less leads find you.
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20 August 2024 | 5 replies
This changes everything for house-hackers and investors seeking multi-units.
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14 August 2024 | 22 replies
I have been BRRRR-ing for over a decade in Milwaukee and it's not like deals were always easy to find, but once a house has been sitting on the market for 6 months, sellers get more motivated to discuss a less than ideal priced offer.