Chad U.
Max Purchase Percentage of UPB
I'm looking at picking up an NPN for $153K, and I just discovered the UPB is $144K but the Payoff is $176K ish. The seller's BPO came in at $215K and a local realtor has given a CMA of $277K, but conservatively is wo...
Cody Godfrey
Raising cash needed to close a deal
This is a follow up to my previous post regarding a duplex I’m trying to purchase and owner occupy! Long story short, I found a portfolio lender willing to do a 5% down loan on the duplex I’m looking to purchase. Cash...
Sean Bramble
Construction loan underwriting question
Question for lenders (or anyone who understands how construction loans are underwritten). I’d like to know how to strategically order a series of transactions in order to qualify for a construction loan from a DTI per...
Shawn Trout
Unique scenario, what would you do?
Ok, so maybe its not completely unique because I have seen a few other similar posts but none that seem to match up exactly to mine.I'm a newbie looking to get into the rental business. I currently own a SFH that I oc...
David G Vreeland
Good Versus Bad Debt (% and Type)
I am trying to identify what should be considered good debt versus bad debt. I gave my specific situation below and would appreciate thoughts and tips on my current situation and at what interest rate borrowing funds...
Gregg Fratto
Selling my 2 family with assumable mortgage
Ok BP mortgage people, I have a buyer for my 2 family, the mortgage is assumable at 5% with a balance of $114k with 18 yrs left on it. I am asking $289k...my question is, how does the buyer make up the balance ? Is th...
Shawn Loftis
Contractor bill issue - legal / ethical advice - Colorado
So - I had hail damage from the May 8th storm. I hired a general contractor to make restorations. We are having an issue over $1800 of non-recoverable depreciation. He thinks I owe it and I don't.Once the repairs are ...
John Michael
HELOC terms from my local credit union. Any feedback?
Hello all,A real estate rookie here in the midst of a HELOC application at a local credit union. I've used this credit union before for other things and they are very reputable. There is something in the HELOC terms...
Hugo Matthews
Three Mortgages, get a fourth mortgage or pay one down
Good Morning Everyone,
I currently have 3 mortgages and I am wondering if I should payoff one first or get a fourth one. I wish to increase my rental properties portfolio. I occupy one and two are rentals.
#1- Mortg...
Sumit Kaul
loan agains equity/etf vs 401K vs other options
Is there a way take a loan on the equity/etf you own without selling the equity? If yes, would love some recommendations on best options in the market if folks have done it here. Also pro and consI would also like to ...