24 August 2015 | 4 replies
The answer to all those questions you have is going to be "it depends"its going to depend on the deal its going to depend on the lender and it will depend on several other things as well.i would call 10-15 hard money lenders and i would ask them;What are their qualifications & Terms for the hard moneywhat's there pointsIs there a pre pay penaltyIs there a down payment and if so how muchAre there any upfront fees such as application feeswhat's the lending rangesome will not loan below 100K others willSome may only do single family others only multisome areas maybe off limits what's the guidelines on the propertiessome want a ARV of 70% and some will do 65%BP has a hard money section where you can find lenders in your area plus do a google search for more if need be.Take notes and be upfront with them, you don't want any surprises when you have that killer deal.Good Luck!
27 August 2015 | 1 reply
My idea right now is to create a mobile application that renters could use to easily submit information and receive communication in real-time.Digital Move-in:I think it is a bit silly that the majority of the time this process is still done on pen and paper.
25 August 2015 | 2 replies
The new builds attract a stronger and larger-than-normal applicant pool of prospective tenants, which allows us to be more selective in finding the perfect resident for the home.Because of those 2 benefits, we are huge fans of new construction as rentals!
28 August 2015 | 6 replies
Second, that sellers exclusion is not applicable for the depreciation recapture.
26 August 2015 | 5 replies
When filling out the application for your license (or renewal) there are questions about if you have felonies, and if you check yes to write an explanation.
27 August 2015 | 6 replies
Legal Disclaimer: I am a licensed Mortgage Originator in IN, FL, OH anything I say may not be applicable to other states.
26 August 2015 | 5 replies
Apparently, they thought we entered an agreement that added them to our deed so that the mortgage could be taken over by them without having to go through mortgage application process.
26 August 2015 | 4 replies
You are asked to designate on the loan application whether or not you intend to occupy the property as a primary residence.
26 August 2015 | 0 replies
I've been sent a link to a Security National Mortgage Company application with the name of a licensed mortgage officer.The attractive part is getting rehabbed and rented properties with full financing.
30 August 2015 | 16 replies
While many of the concepts used to underwrite a loan by a lender are applicable, prudent for an individual, the personal knowledge you have about your borrower is what is most relied upon.