Max T.
Credit Line as Reserves
Hello everyone,What are the collective thoughts on having a line of credit instead of actual cash reserves?I know it sounds ludicrous! Cash reserves are what get you through those times when all the Capex comes down o...
Justin Berst
Security deposits on buying existing property
I am buying two duplex's which are currently rented, what is the rule or law when dealing with security deposits? Does the previous owner need to give me their security deposits or are they allowed to keep it?
N/A N/A
Advice: Real Estate Investment Banking
I recently found this site and have made a few posts already. Often times the network of realtors I personally do business with find properties meeting my criteria. Generally that criteria consists of cap rate not bel...
Brian Sanchez
Borrowing Rehab Costs
Hey BP, I got another question...
The property I am purchasing is all cash
The property requires rehab. I have a silent partner who is willing to lend the costs for rehab.
I have structured a Note for this agreem...
Burt L.
What is DSCR Lender Really Looking For On My Bank Statements?
In seeking a DSCR cash-out loan, I've learned that lenders want to see bank statements. I had thought DSCR's were only property based, but lenders I've just begun to contact are saying I need to provide bank statement...
Michael Goldsmith
Anyone in Central Florida Tampa areas?
Hello Everyone,Brand new to BiggerPockets and REI in general but very eager to meet like minded people and am hungry to learn and get into it. I'm relatively new to Florida, having moved here from the NY/NJ area abou...
Rohme Williams
Proof of Funding when buying RE
So, if you find deal and tell your agent that you want to make an offer, when he asks "Do you have proof of funds"? Is it customary to ALWAYS have the funds, or can you hopefully have the offer accepted and then"find"...
Michael Elder
Refinance advice on FHA loan
I purchased a home in the space coast area of Florida last Feb with an FHA loan at 2.75% interest rate. The value in that time has risen from 200k up to about 270k-300k. We are now trying to refinance out of the FHA l...
Account Closed
Self Directed IRA where do I invest?
If you had 100k in your SDIRA where would you deploy it if you wanted to remain passive but wanted to understand the business. Not accredited just yet, so I can’t invest in syndications 😞
Benjamin D.
Can I draw from an existing HELOC before I sell? And a separate question about a lien
Hi, I have a lease ending on a rental property, and it's time to sell and buy in another location.The property has a mortgage, a HELOC, and also a 3rd lien where remaining equity was used as collateral for an unrelate...