Caleb Drake
HELOC on Rental!
I have a performing STR in the Florida Panhandle that has around $100k in equity I’d like to tap into. Does anyone have a lender or is a lender who does HELOCs on rentals titled in an LLC?
Joseph Roberts
Hard money lender questions
Hello all! First post. Excited to be a part of this group. I have some experience in real estate investing and buying and selling my personal home, but all this experience is with traditional lenders. I am talking w...
Donald DiBuono
Leveraging your HELOC to BRRRR
Hi!I have a scenario i would like you all to weigh in on. My partner and I took our a HELOC on our homes. Keep in mind, our personal homes are not making any money. We used the HELOC funds to buy a SFH all cash. The S...
Johnna Lodge
How to sniff out a scam for use of funds?
I have been active on the internet lately promoting some properties.I received an email asking if i needed use of funds and for what for from a direct internet connection.I responded with:Transactional funding use of ...
Paul Zofsak
20% down, percentage of loan or value of property
Since I have been trying to secure funding for rental properties the banks are telling me I need to put down 20%; it just occurred to me, do they mean 20% of the purchase price or 20% of the appraised value of the pro...
Tony F.
Commercial construction loan
Looking to finance a commercial industrial NNN lease single tenant ground up purchase and build project in california. Have tenant secured. Cap rate will be very high, tenant will put down significant deposit before a...
Jay Hinrichs
Here is a PRIME example of those trolling internet and BP
For the education of the BP audience I responded to one of these two good to be true lenders that is trolling BP Facebook and many other sites. here is the reponse I got."Thank you for your interest. I assist real e...
Colin Carr
Will banks loan o 90% LTV?
I'm trying to plan out my next buy, but my savings alone would take me forever to save for a conventional loan down payment. I did some amortization calcs on my current house loan and see that at the rate I am saving ...
Sam Shin
POLL: Refi at 4.125% or 3.25%
I got a couple of quotes from my mortgage broker on a refinance to go from my current non-VA ARM mortgage at 4.25% to a VA 30-yr conventional at:4.125% interest with 2.83% credit or,3.25% interest with 0.983 credit.My...
Daniel O.
Hard Money Lenders
How does a commitment letter written by a hard money lender work? if a hard money lender writes a commitment letter for $180,000 will this be the total amount loaned? will it be cash given to the buyer or directly han...