Davon Lowery
I AIN'T PAY'N!! Ahhh the joys of landlording
I had the property manager send a friendly reminder, reminding tenants that rent is due on the 1st. Tenant 1, paid no problemo. Now on the other hand the other tenant states, "I get a three day grace period by law!!!"...
Anthony Kono
Closing costs question , more than 5%
Thank you all for a wealth of information on here. My question comes in regards to the closing costs. Everywhere I read it’s from 2-5%, but my lender , 30 yr conventional , investment property , has closing costs out...
Kehui Ren
Any good PROPERTY MANAGEMENT company in the Triad, NC?
Hi BP,I'm still a new bird in property investment. After doing a lot of research, I recently purchased an apartment in Winston Salem, NC but now seems to have trouble finding a great PM company. I've talked to a few c...
Ethan Kramer
$12,400 closing costs for $129,900 property?
I'm currently under contract for a turn-key investment property in Baltimore City that is valued at $129,900. I just received the documents from my lender showing total estimated closing costs of $12,400, making the e...
Jeffrey Kovnick
Commercial mortgage brokers
$8,500,0000 property; $3million down, 65% leverage (so $5.5 million loan). CBRE is my broker, they receive 2.5% buyers agent commission. I was told that they would help me through the loan process. So, today when spea...
Min Kim
Getting a new lender before closing?
Hey everyone,So currently we’ve been in the process with a lender who has been difficult at times. One thing that bothers me is that they won’t do a “float down” unless it’s a whole percent, but other lenders allow it...
Dan Deckelbaum
Lending origination costs
Origination fees for $1,000,000 - $10,000,000 credit line. 1. $2,500 for any size line of credit + $2,500 legal fee A. 2.25 points per loan origination2. 0.5% of the line of credit size + $2,500 legal fee A...
Asish Balu
Closing costs are 14K on a 120K house?? Am I being cheated?
Hey all, Hi all, I put in an offer on a house in Baltimore City and it got accepted. I decided to go 119K with no seller assist, thinking that closing costs would run me at most 5-6% of the property.According to my le...
Carrie Giordano
Cost of cashing out -Brrrr
I'm going over my options to cash out on two properties. I spoke with a few local lenders today and was a bit surprised at the cost to refinance. I would love other people's opinion on the current going rates. The len...
Dawn Brenengen
Light Rehab (WITH PICS!) - Rental Property Purchase Story
I helped a client, @Martin Yung, buy this home in Raleigh, NC back on November 19, 2015, managed a light rehab, and got it rented. The tenant moved in on January 1st, and I wanted to document the process for my fello...