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Financing with no income
I am interested in getting my rental portfolio started, however I have one more year of college. That year of college is going to be relatively light, so I am looking to go full force in real estate. I know a bank wil...
Scott Kohlberg
Where can view the average mortgage rates in my area?
I am just looking for some website to look for the average mortgage rates in my area, so I could do some number crunching. I am just trying to overcome my first investment property.
Patrick M.
Any Difference in Tile Quality Between HD/Lowe's & Best Tile?
Hey BPers- I've just purchased my first rental unit and I am updating two bathrooms, converting from old dated vinyl floors to tile. I have found a talented tile person who installs for $8 per sq ft. I suggested I wou...
Daniel Hyman
Buying out of state: Would you ever forego an inspection?
We had an offer to purchase a triplex in Indiana. The seller seemed forthcoming about the potential rehab needs (chimney work, siding, a few windows). We estimated 10-15k based on the seller's description. However, th...
Account Closed
Florida Appraisals - Big Deal?
Hello friends,I'm trying to make an offer on a triplex with FHA financing. My realtor is convinced it won't appraise for full price, which is what I'm offering with 3% closing assistance as this is a triplex built in ...
Stephen Brown
How To Research a Neighborhood
Hello All,
Here are some guidelines I found about researching a neighborhood.
1. If it is a mid-sized city, not a metro, you want to have a 20% population growth. If the population is larger than 1M, there should be...
Montez B.
FHA loan to conventional (repeat)
So I was taking to a loan officer and he told me that I can only use the FHA loan 1 time and for me to use repeatedly I have to switch my fha loan into an conventional loan, so I was wondering what would be the pros a...
Brad Spies
Brrrrrr
I have a foreclosure I'm buying for $55,000. I would like to use the brrrr strategy. My lender is saying if I pay cash and then rehab and it appraises for 90,000(equal to other comps in the area) I would only be able ...
Dee Xixi
Preliminary HUD-1 net sheet
Hi guys,
Need some quidance on how to do a HUD-1 net sheet for a Short Sale. Bank is waiting on paper work. I have everything else needed for the short sale package except the HUD-1 which is the bottom line for the ...
Ryan Planchon
Additional Property Managment Costs?
Where do you factor in additional costs for property management? Such as for a new lease or renewal? I saw that some property management companies charge 1 months rent or 1/2 months rent for those services? Is that...