Stefanie Bergmann
pay more principal or take more cash flow?
I just made my first mortgage payment and am having some serious sticker shock when looking at the interest.why is it almost all interest? I cash flow very well on this, so could definitely afford to pay more towards ...
Josh Saul
Replace your mortgage with a HELOC
Hey Folks,I've been looking into the concept of replacing our home mortgage with a fixed rate HELOC as described on sites like Replaceyourmortgage.com. They want about $2000-2500 for their coaching and information. ...
Paresh Patel
Is there a tax deduction for defaulted loan interest not-paid?
Hello. I would like to pose a question relating to the tax treatment of Loans made though any of the leading Real Estate Crowdfunding Portals that go into Default.Many of the CF sites may reasonably be expected to ev...
Francesco Ferrero
Private Investor Loan 3 Years 7.2% annum
We are looking into getting a private Investors Loan of 120,000$ with these Terms. We are calculating our repayments to be around 2700$ Would this be correct? Also we are not quite sure what point 3b means for us.... ...
George Hernandez
HELOC denied because of low LTV
Good morning Biggerpockets fam!!!
So I need some advise and I’ll try to keep it short and simple. I tried to get a HELOC on my rental property, but the bank denied me for a low loan-to-value on the property. Here’s m...
Jeremy Lee
Buyer talking about changing terms of promissory note later
Hi,My in-laws have signed a promissory note to privately loan $60k to the buyer of their restaurant over the course of 2 years at an interest rate of 5.4%. The buyer recently told my father in law that she might be in...
Robert Burns
Calculating an offer on a Preforeclosure
I've started to dig into wholesaling preforeclosures and I guess I'm missing something in calculation an offer. Wouldn't the offer be at least what is owed to the lending institution? It could only be less if the se...
Tom Walrod
Capital gains if no principal is paid?
We want to do right by our property manager and ourselves. We own a multi free and clear and want to get it into his hands, but also want some income till we die. If we sold the multi to him for no money down and 5% i...
Account Closed
Who gets the benefits of Principal reduction?
If a homeowner finances you his property for 100k and you agree to pay him 100k but he owes 50k, and he has been paying for the property for 20 years, if you keep paying the mortgage payments and you agree to pay him ...
Josh Young
How to Become a Rental Property Investor
Talk to a lender and learn the rules of qualifying for a mortgage
You need to learn the rules that underwriters follow to be able to qualify for a mortgage. Once you learn the rules you can develop a plan to fit the...