Bob NA
Buying property from family and getting loan from family
Hi All,I am hoping someone can give me some advice regarding an issue I currently have –My in-laws plan to give us their holiday home to live in and we will repay them for the property with a loan at 0% interest.The p...
Trey Fankhouser
Hard Money Lender/Syndication Group
Hello,
I have not had to get funding from a hard money lender yet, and I just wanted to reach out to the group and see if anyone has suggestions on how they typically set up the contract for repayment. I have been ...
Account Closed
Helpful Article on Seller Financing Requirements 2014
Here's an article that sums up the limits and requirements for those of us still willing to offer seller financing to owner occupant buyers. Note that it is possible to do at least one deal a year with no MLO requi...
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...
Jordyn Gegg
Would banks allow my PML to co-sign on a cash-out-refi?
Weird question, but lets say in a future BRRRR deal I have a PML fund the entirety of the acquisition + rehab. Now that the property is fixed up and appraised for a higher price, I go to a bank to pull my equity out o...
Ajeet Ganga
What % of rental income can be showed as future personal income to get the bank loan ?
I am working to get a bank loan on multifamily, with cap-rate of 8 with price of $1million+My personal income alone will not be sufficient to show the loan repayment guarantee. The property is making about $80K, in NO...
Dustin Wright
Can you take 401k loan to buy rental property?
I have found an REO property for 29k. It would make a great rental property with minimal work. I have been considering a 401k loan since it would be so hard to get a traditional mortgage for this amount. Is this allow...
Account Closed
Foreclosure Investing
I was wondering if anyone has ever done this? Meet with a Seller in foreclosure who is about 6 months behind on their payments. Assume he has adequate equity so that you will not need to try a short sale. Make a deal ...
Ilya Plugovoy
Best bank/credit union to work with in Minnesota
Hey all. I am new to BP and MN. Moved here from CA 3 years ago for work and have been looking to get into real estate investing. I've been doing lots of research and was thinking that the best way would be to get a HE...
Ryan Ahlgrim
Business Line of Credit
I’m planning to do some buy and hold investing in 2014 and am looking to use a business line of credit for my down payments when purchasing new properties. Depending on the lender, they will require a 10% - 20% dow...