Sam Scott
Is a refinace worth it?
First mortgage, 230k, 5.125, ARM (40 year, about 14 years in), just reset in July (locked in may/June), up from 5%2nd, HEL: 40k @ 3.75% (2 years into 10 year)Property value, 300kSo that puts me right around 90% CLTV. ...
Corey M.
Lending rate for friend's flip
I've helped fund a friend's previous flips. He usually gets a hard money loan, but still needs bridge financing for the down and monthly payments. I've previously charged him between 7-8% interest, but that was over a...
Tony Barwick
Needing Advice From An Experienced BRRRR Investor
Hi there, I am buying my fourth property and finally have something I can BRRRR. I have a few questions though, because this is my first time BRRRRing. My private lender is a close friend. He wants it to be a very sim...
Account Closed
All liens cleared in NJ Sheriff Sale?
I am trying to understand the process of Sheriff Sale for Bergen County, NJ (judial foreclosure). After calling Sheriff's office and talking to real estate professionals, they state that all liens (excluding tax liens...
Emma Furino
Allowed to have two private money lenders?
Hi, Is it legal to have two separate private money lenders on a deal? For example, if i purchase a home for 200,000, can one lender contribute 100k and the other 100k? I saw according to SEC guidelines, we cannot pool...
Kevin Chhum
First real estate investment
I'm moving forward on purchasing a duplex. But I want to know some of your opinions.Here is the break down from my agent. San Diego, california.Purchase price: $328,000 (this includes my closing costs as well!)Mortgag...
Sheri Lowrance
Suggestions re lending rehab funds as a 2nd mortgage.
I'm wanting to learn about flipping in my local area. I met someone through Linked In that has a company that has been successfully doing fix and flips in Denver for about 1 year. He is offering me 10% interest for me...
Jenny Scott
Apply A Second HELOC? Or I should close the first HELOC first.
Hi, all, A few years back, I had a HELOC $150k on my primary property that I have paid all the balance, but not closed yet. I keep it around just in case I need cash. But now since my house value has gone up a lot, ev...
Horacio Gutierrez
Down payment note collateral note
Hello,How should I record a promissory note for bank loan and private loan for a down payment using the same property as collateral. When I buy the home do I just record the bank as the first position in deed and sec...
Tatiana Gershanovich
State Department of Revenue Lien Mitigation/Acquisition
There is a property that we want to acquire. It has a Department of Revenue lien (on a junior position) that brings our cost of acquisition higher that we want to pay for the property. First position lien holder start...