John Thedford
Got VERY Bad Feedback When Asking About A Potential Borrower
I have a potential borrower asking for a HML. Our good friend and mentor Jay Hinrichs suggested using the 3 C's for underwriting: character of the borrower, capacity to repay the loan, and of course, the collateral.He...
Lauren Stiver
1st HH! How do I pay back
Hey everyone!
So I have been on BP for almost a year and I finally have my first house hack under contract! It's for sure been a hot market in Kansas City! This is a 2 unit home...not a duplex, but a large ranch house...
Account Closed
can you buy a house with a credit card?
I have my first deal under contract. will close in the next week or two as soon as the title company is done with their work. I have a pre existing commercial line of credit set up that makes me the equivalent of a ca...
Vik Ari
Making extra mortgage principal
How does making an extra say $1000 towards mortgage principal affect the mortgage? For example if I pay an extra $1000 on the 15th, would that reduce the amount of interest I pay next month since my mortgage balance i...
Dan K.
I want to lend money with my IRA: Where do you go?
Has anyone done private lending on real estate deals on a short term basis? If so where do you find credible burrowers?
Penny D.
Self Directed IRA issues/questions
I'm trying to put together my first deal using our Self Directed IRA.
Our problem is we have no money for investing except what is in our SD IRA. I'm trying to find a way to use the SD IRA and be involved in a deal ...
Josh Nabors
Dad wants out of rental property. Any no money down ideas ?
My dad is retiring and getting rid of a couple of his properties. He asked me if I wanted to look into getting the properties. A year ago I bought a foreclosed duplex with an fha203k loan and owner occupied. I am now ...
Chad Palsulich
Mortgage rate quotes too high?
I've gotten pre-qualified by a number of lenders for a rental property (SFH) in Knoxville, TN and all of 30 year fixed rate quotes range from 4.9 to 5.1 percent. I've seen people post rates on this forum that are much...
Derrick S.
Lightstream.com - Reviews/ Recommendations?
I posted about a deal I need $85k for (purchase and renovations) in "Starting Out" and I'm thinking of trying this company Lightstream. They say they loan up to $100k, and do loan for remodels.Do you or anyone you kno...
Michael Dodson
Do I need to live in first property for a Loan?
There’s a 4 plex I want to buy, but my realtor seems to think i have to live in the property as a first time home buyer? My numbers work on the property if I have it fully rented out, but if I have to live in one unit...