Kirk Gore
What to do when your lead is underwater on their mortgage
I just received my first call from my direct mail campaign. The lead is an out of state absentee owner who owns the house as a rental and is underwater on his mortgage. He bought the house in 2007 and said if he tried...
Aimee S.
To Sell, or Not To Sell - That is the Question
Hello All, I am seeking advice on whether to sell a rental condo or not. The condo is located outside Charleston, SC in a sought after area with a great school district and has always rented quickly. I purchased thi...
Dan Favor
Trying to bail out a friend
I know just enough to be dangerous on LO so bare with me. Have a friend who is in the middle of a divorce. Husband hasn't been making payment for months and i'm quite sure taxes have not been paid either (she is on ti...
Bryan H.
Strategy to sell a loser
Back in 2003 I bought my first primary residence. I paid $154k and it's never been worth that since. I bought it with a 3/1 ARM but was never able to refinance because I've never had 20% equity, and it was never so...
Drew Carroll
Urgent Advice Needed: Pre-Foreclosure Deal
I am new to real estate investing and have a potential opportunity (at least I think) fall into my lap. Someone that I know personally owns a very nice house that is currently listed for sale for over $1 million. From...
Robin Wilk
FHA 203k Loan Question
Is it possible to refinance an existing mortgage into a FHA 203k loan on an owner occupied property and if it's possible does the property need to be occupied for the 1 year minimum like a traditional FHA loan? I'm lo...
Scott W.
deal analysis
became an unintentional landlord 3 years ago on oct 1st. wanted to share with you the tracked expensed over past 3 years.
rent $900, $925, $950, $975 (tenant renewed 10/1/2012 for 4th year)
Per month average over 36...
Bradley Swett
How can I leverage this equity?
After I refi, I will have about $550,000 in equity in my primary residence. It's an LTV of around 65%. What are things I can do to progress my investment portfolio?If I was to take money out of the home, how much do y...
Chad Rockwell
Cash-Out Refinance Question!
Our current home has a 3.75% rate and we are refinancing that to 3.25%. OR, we could get about $60K out on a a cash-out refi with a 3.5% interest rate. That would increase our monthly mortgage payment by about $300. A...
Pam N.
Lease assignment strategy?
After listening to a cd by Ron Legrand I am thinking of focusing on assigning contracts from homeowners who are underwater and helping them put a renter in their home who will take over their mortgage and pay for repa...