Aubrey Cook
How much rental income needed to qualify for mortgage?
How much rental income from investment properties is needed for someone to qualify for a mortgage loan if the person has no other source of income? Like say you want to buy a $1 million property with 20% down for exam...
Account Closed
Really liking note income
Most of my income is derived from re-sales. I cash out of most of my re-sale deals and usually only carry paper in order to solve a problem. However, this year I created two small seller carryback notes as a way of ...
Michinori Kaneko
BRRRR question - rent/refi order
Hi,
I know BRRRR stands for Buy, rehab, rent, refinance, repeat. Is there a reason why we want to rent before we refinance other than the 2 reasons I can think of below?
1. You can potentially include the renta...
Marie G.
Maryland LLC Financing, Asset Protection/Privacy Options
So I have done a lot of reading and listening to audiobooks, podcasts, forums, etc. This can be so overwhelming. I was wondering if there was anyone local that has any pro/cons from their experience with LLC formation...
Maron Faulkner
Prequalified for 250K mortgage, but...
I got pre-qualified for an investment property (SFH) in Idaho for 250K, but now I can only get a HELOC on my primary residence for 48K, which isn't enough to fund the down payment. The original HELOC was for 100K, whi...
Maureen Hannan
I want to sell a private mortgage note
Hello All,
I would really welcome advice from anyone experienced in mortgage brokering. I hold the note on a home in Arlington, VA. The amount of the note is $420K, and the home is currently valued at roughly $450K....
Brittany P.
A Dodd-Frank Question
Hi All,
Question for you pros, and maybe I'm thinking too deeply on this, but does Dodd-Frank (or its attendant regulations) set any restrictions on purchasing mortgage notes, or only on loan origination? What about...
Mike Del Angel
VA loan rental property
I need some advice. I currently own a home in Louisiana, but I am transitioning out of the military and will be moving to Florida. This home was originally purchased with a VA home at $150k two years ago with zero dow...
Dan Krause
Does GMAC Mortgage do loans on income properties?
It is late in the day-i tried to contact them earlier but probably wont get a reply today. Has anyone on here ever dealt with them? Will they do loans on income properties? What about short term loans for rehabs? Dan ...
Carroll Lee
Hard Money Bridge loan Eval
These are the terms for a Loan I need to make to get to my deposit total of 120,000. Please let me know of any lenders that can do better.95,000 net $107,495.00 Total Financed Amount.The original pitch had a 5 year...