J Newman
Loan from 401k when retired
My husband was able to retire fairly young from a government job. He has a 401k, but he is retired. We were thinking about taking a loan from that to put a down payment on investment real estate, but he said that he t...
Vu Nghiem
Legal question on structuring a deal
Hi all,
I'm a novice investor that have done a few live flips deals on my own. I have a group of friends that is willing to commit about 300K of capital for me to BRRRR with.
How should I structure the entity so th...
Ed Wood
Effective Tomorrow - Qualified Mortgage Standards (CFPB link)
This page contains resources to help you understand the rule and its implications.
"The CFPB amended Regulation Z, which implements the Truth in Lending Act (TILA). Regulation Z currently prohibits a creditor...
Mike Schorah
Why don't I ever hear about people losing money doing BRRRRs?
I always hear about people losing money flipping houses. Why don't I ever hear about people losing money doing BRRRRs?For instance, I've heard of people losing $5k-$70k on a flip sometimes, but I never hear of someone...
Trisha Punneo
Help with loan agreement
Can anyone tell me if this is a good loan agreement?
LOAN TERMS AND CONDITIONS
(1) Borrower must have a working bank account in his/her name or company name which will be used for the transfer of t...
Account Closed
Conventional Mortgage with less than 2 years of part time work?
Hello,I am looking to buy an investment property in the Southern California, Antelope Valley area on a conventional loan for a house that would range between 60-100k and putting up to 30-35% down on the house. But, I ...
Jack Bobeck
For those of you with tenants, are you getting payments?
For the record, I have 1 rental property in my portfolio and am not working on any flips until the crisis subsides.If you have rentals, are you able to collect rent from your tenants in Jacksonville, FL? Its due on th...
Jeff Chisum
Mortgage Relief For Those Effected by the recent Natural Disasters
Fannie Mae and Freddie Mac offer mortgage relief to homeowners impacted by natural disasters, including those with second homes in areas like North Carolina and Florida. If your second home is located in a federally d...
Zach Bechard
Conventional Loan without income?
Is it possible to get a conventional loan without proof of income and good credit?
As a new investor it will be hard to show income, but I have good credit. Rather than using private lenders or Hard Money Loan, coul...
Ben C.
Personal Loan to LLC Question
How can I lend money to my LLC without piercing the corporate veil? If I’m transferring money from personal account to LLC online should I just make sure to write “Loan 123 Main Street Project” in memo and after flip ...