Dan N.
Need suggestions for approaching Off-Market Opportunities
Hi All, I have a handful of SFRs but I've never bought anything that wasn't on the MLS. I've gotten wind of two properties in my area that are likely going to be available soon. One is a friend renting a house whose l...
Taelonn Harper
Subject To Deal! - Advice?
I am working on a Subject To Deal and would greatly appreciate any advice anyone may have to offer.
Here is a breakdown of the numbers:
Property ARV: $120,000 cash.
Loan amount still owed: $79,000 cash.
Interest r...
Tyco Bronye
Landlord question
I have a friend here in Minneapolis who purchased a triplex in 2007 by a college to rent out. They had it about 2 years then let it go into foreclosure because the house was worth less than the amount owed on the mo...
Konrad R.
Is 10k for water damage sufficient?
The policy I was quoted has a 10,000 limit for backup or discharge of water. I'm concerned about a pipe bursting and ruining the floors, drywall, and kitchen cabinets. Do you think 10K is sufficient? What is the norma...
Michael Chewning
Buy more or pay off?
HelloNew to hear so perhaps this is one thats been answered a lot.We will be closing on our 3rd rental property in a few weeks. - 1 SFH that was our original primary that the mortgage is underwater on so we kept and r...
Adrian Thomas
DSCR Loans, caught holding the bag
Hello BP family,I recently bought my 3rd rental property in Salina, KS using a HELOC that I have on my primary residence (CA). I did a cosmetic rehab and rented out the home 12/1. I went to my local bank that I've ref...
Nathan Frost
Business Line of Credit
Hi all, how can one use a line of credit to add rental properties to their portfolio? Can someone give me an example? Bank said I could use it as the down payment and then get another bank to fund the loan. I am tr...
Tejani Jeet Bhavesh
Second lien working
How does a second lien work in a Home Equity LOC?
To better ask, if mortgage is not paid, how is the sale price split between the primary and secondary liener after foreclosure?
Rick Bassett
The numbers rarely seem to work on rehabs in Connecticut
I've been chasing deals on single family houses for rehab/rent/hold for a long time and probably to no one's surprise on this forum; the numbers rarely work.
Usually the semi-affordable houses with upside potential a...
R Jenkins joshua
Gov't unveils plan to shrink some home loans
4 of the Biggest 2nd Mortgages holder are :
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Citigroup Inc
Bank of America Corp
Wells Fargo & Co.
JPMorgan Chase & Co.
It seems their never anything for Real Estate Inve...