Jeremiah Bishop
Business Plan for a Loan
Hey guys! I am in the middle of my first deal right now. I'm going to purchase a 8 unit property from my parents that are ready to retire from the land lord career. I am looking to do a 85/15 mortgage loan through a l...
Art DeBrito
Can a real estate broker pay their agents?
On page 6 of the 'SMALL BUSINESS ADMINISTRATION [Docket No. SBA-2020-0015] 13 CFR Part 120 Business Loan Program Temporary Changes; Paycheck Protection Program RIN 3245-AH34'Under the question 2. What do Borrowers nee...
Sheri Ulm
Purchasing Real Estate in Ohio
I own rental property in Ohio but when I bought them everything was handled by the seller and I currently have a deal in escrow that is a land contract on a property owned free and clear that was done thru a real esta...
Michael Mikhail
What’s the Difference between a QM and Non-QM Loan Program?
Great question! QM stands for a qualified mortgage. Qualified mortgages tend to be traditional government-backed loans and conventional loans (basically non-government backed traditional loans).
QM Loans are usually...
Jason Unrath
What information should I seek when inheriting tenants?
When considering submitting an offer on a property which is at least partially rented (in other words, you would be inheriting tenants), what information/documentation is reasonable for me to request from the seller? ...
Jordan Freeman
Transactional funding
Hey bp, I was very curious to know if most buyers require proof of funds or most banks before allowing a contract on a property? Are you able to simply say you will have cash on a certain date and use your buyers fund...
Kevin Feltner
Security Deposit - One Renews, One Leaves
I have a lease ending where one tenant wants to sign a new lease and the other is moving on. I understand that I will need a new lease for the remaining tenant, but how do I handle the existing security deposit. Half ...
Daniel Fernandez
How long is REO acceptance good for?
Lets say i make an offer with a POF/LOI to the holder of a property (bank). I will also be using transactional funding to double close as I havent found a title company in SD to do simultaneous closings anyway... Lets...
Yeng Hawj
Mortgage Broker Ran My Credit w/o Permission
Hi BP Community,Ok so, the mortgage broker that helped me a couple years ago with lending on my current home contacted me to see if I was interested in refinancing. I told him I was interested and to send me the num...
Mario Masseroli
First experience with contractors. HELP!!!
Hi,
I am entering into my first deal. I found a property and I am starting to deal with GC to bid on the project in order to prepare the offer. 3 contractor came to see the house and we went through all the work that...