Just trying to learn about how no credit check collateral works with rental properties.
I'm looking for any BP members who have recently used or are currently using a substitute of collateral clause. Specifically, are you using it as an addendum, or is it incorporated in the purchase agreement?
Hey all, thanks ahead of time for advice. I have an apartment I'm repositioning currently. I purchased it for $1,045,000, cap ex is $170,000. ARV appraisal was done pre-closing @$1,350,000, which would put the in-p...
Good afternoon / evening all. I just wanted to get some opinions on what the BP community thinks about cross collateralization loans. I have a rental property in Missouri ( paid off duplex ), and thinking about purcha...
Hello,What is cross collateralize mortgage loan?Does it make sence to do it?Any lenders does that type of loan? What they requirements?Thanks
Hey everyone. So I got approved for an EIDL in excess of 25k. I know that over this amount requires them to take collateral, the details of which are very obscure. My concern is if I sell any property as a result of m...
Question for the smart masses. I am catching up on podcast and I listened to episode 55 featuring @Jimmy Moncrief. He stated you could use a retirement account as collateral for an unsecured loan. Does anyone know an...
Ok so say Ive got a few nice income producing rentals that are owned by my LLC... How do I go to the banks and get additional funding for more property acquisition by collateralizing the existing properties? Ive heard...
I hv a house in Dallas, TX that I sold owner finance to a family for 180k.
They put down 20k and financing 160k with me.
My underlying loan is for 110k at 12% for 30yrs. (why so high? Let me tell u the story)
I b...
Looking to invest in my 2nd rental property using collateral (my first building) to cover my downpayment.
This commercial property to purchase, as was the first. So 25% is needed.
Short overview: Property is 200k, d...