Account Closed
Quick Check on this hard money payoff quote
I borrowed $141k hard money at 7% interest-only and escrowed ~$10k with them for repair costs (not sure if that matters). My monthly payment on the hard money is $822.I'm now trying to refinance into a conventional mo...
James Syed
Commercial Loan
Hello BP members,I am currently offered a commercial loan with the following terms;Interest Rate 5.25%Down Payment 25%Amortization 20 YearTerm 5 Year Balloon I'd prefer at l...
David Czech
Should I be doing something with reserve cash I get from rent?
This might also be a bit of a personal finance question as well but wanted advice. Is there a set amount I should have in reserves to feel comfortable in case something catastrophic happens? I'm a bit paranoid so righ...
David West
Is my mortgage broker right? I won't qualify for 2nd home? Why?
My wife and I purchased a SFR in San Diego, CA in 2015 with an fha loan. Appreciation has been great and I've refinanced out of that loan to a conventional loan and opened up a HELOC with 58k available. We want to mov...
Michael Johnson
Theres absolutely positively no way ..... is there?
Michael Johnson, unproven; yet serious.I walked into a local real estate office and chatted with a lovely realtor named Annabelle. After 15 or so minutes, boom she invites me to her office and we started looking at th...
Kisha Miles
Refinancing confusion How do hard money lenders make a profit
I've read books and watched vlogs about the BRRRR strategy. The Lord sent me a hard money lender who said something that through a wrench in my understanding of how this works. I thought I'd be able to refinance based...
Jim H.
Sheriff sales and existing mortgage
Hello, I am new to the website. I am not an investor yet, just trying to learn the basics and stay out of trouble. I have been watching Auction.com, there are a lot of REO's on that website many with large mortgages u...
Gordie Prescott
Property in Pre-Foreclosure with an ARM
Hello all,I was contacted just recently by a seller whose home has the following challenges: In pre-foreclosureHas not paid the mortgage in 2 yearsRented the property and was not eligible for refinance as a homeownerH...
Ryan Bissell
Any concerns with paying cash "naow", before securing financing?
Suppose you're just getting started, looking for your first investment property. You stumble upon what you believe is a killer deal, and you don't want to lose it. But maybe you are literally so new at the game that...
Xela Batchelder
Mortage Credit Rating not the same as Bank Credit Reports
Working on qualifying for a mortgage today. My credit rating is super high according to my Chase ap (experian), and my discover card (trans union). My score is super high (not sure it is safe to mention the score he...