Paul Pena
Cash out refinance on apartments
When I searched in Google, starting with 2018 tax returns filed in 2019, interest paid on a cash-out refinance or home equity loan is only deductible if used to buy or make “substantial improvements” to your home.Does...
Emily Smith
Rise in Mortgage Rates Continue
Hi,
The average rate for 30-year FRM increased by 3 basis points to close at 6.38% whereas the rates for 5/1 ARM slid down by a single point to close at 6.19%.
When mortgage rates were favorable and lending terms not...
Asia McGee
First Rental Property
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $420
Small multi family unit
What made you interested in investing in this type of deal?
Passive in...
Wendy Thurst
Renovations of 2- family Log Home
We are looking for any information and advice in renovating a log home in Connecticut. We have experience with 2 family stick built but log home improvements are new to us. Thank you in advance!
David Taylor
Financing and Seller Financing Texas
Good Morning BP,If you have a property that is financed using seller's financing, and you decide you will like to make improvements to the home what option would you take? I will like to take out a mortgage payoff th...
Hari Mann
Cash-out refinance of 35 condo units in Holly Hill, FL
Hey BP! My REI company has been lucky enough to experience growth these last few years and have recently closed on a purchase of 35 condo units in cash. After decreasing expenses, improving some of the units that need...
George Ramsay
Private Lending Construction Loan
Hey everyoneI have a noobie question I was hoping the group could help out with. I'm doing my first construction loan for a rehab project and gave the first draw to the borrower. Draw was based on invoices and receipt...
Wayne Freeman
question? about the 2% rule
the 2% rule says that a 100,000 house... You need to get 2,000 in rent.
What if you get a 100,000 house and you spend 40,000 on rehap. Now do you do the 2% rule on the 140,000. Or you still do it on the pu...
Michael Greer
Seller proposed their financing terms. Am I wrong?
6 plex for sale. Asked a property owner if they would consider seller financing. They sent the following terms:7.5% interest rate, 7 years, 25% up front.I'm looking to lock in a cheap rate on an income producing prope...
Nathan Platter
Hotel Acquisition! Lenders Needed
Asking for a friend:"I'm getting a couple of contracts on Hotels. High cap and high cash flowing properties. Looking for the best possible LTV. Lenders who can close quickly. I want to build a long-term relationship.T...