I'm getting started on being a HML for rehabbers. How much detailed information on their finances should I ask for compared to a regular bank? For example, should I request tax returns, know their monthly car paymen...
I have 30k in the bank and thinking about borrowing 40k from family member for down pymnt and going to a hard money lender for the 80% purchase price w/100% for rehab costs.Ill use the "borrowed" money from the family...
What's the cost of borrow it from hard money first so you don't get outbid from those all cash buyers . Then after closing to refinance it through traditional mortgage channel ? Would that be ideal ?
Got contacted by BP member wanting a HML on a partial build. My main concern is how to be protected. How do most HML structure these deals? I don't want to put money out and then end up with liens, etc that may be sup...
Here we go! My brother and I bought a legal multi family in 2010 when our parents gave us the boot. We saved and bought a second home to keep one each as a primary. We borrowed against the second one a heloc to purcha...
I am trying to get started and would like to purchase a rental property. I am currently not working so I have no income. Can I still borrow money for rental property to start or do I need to go more into wholesaling s...
I have portfolio 20 rented single family homes to finance ($3m value, need 1.7m... 0.2 Refininace +1.5 cash out) that I own since 2-3 years.I am perfect borrower (high personal and business credit score, stable rents,...
Hi,My parents own a rental property that is paid off and they are thinking of selling it. However, I'm not sure if 1031 is possible or better.Option 1: they lived there as primary residence for 9 years, then rented it...
Hi guys, I am in the process of putting a bid on a short sale home. This year I purchased 3 buy and holds, so I am running low on funds. I found a great deal and do not want to let it pass. My brother and brother in l...
I'm new to REI and am wondering what's the best option for obtaining financing. I have a couple partners and we were thinking of talking with local banks in hopes of building a working relationship over the years wit...