Christian Kama
FHA Loan Questions and Help
Can’t really find an answer for this and I hope it makes sense but when applying for a FHA loan assuming you are approved, do you have to pay more for the P&I since your down payment is so low (3.5% or 5%DP) or do...
Dan Costantino
Hard Money Lending: Is it 'the norm' for 'advances' to be paid AFTER the work is complete?
I got my first Hard Money Loan. Everything is fine, but I was surprised that I won't be 'advanced' any rehab money. They will only reimburse me after work is complete. This is a $50k rehab, so I will need about $15...
Bobby Balow
Old gas pipe sticking out of kitchen floor. What to do?
We purchased a rental house that has a capped natural gas line sticking out of the floor along one of the walls in the kitchen. Our contractor said it's too hard to get underneath it to pull it down below the floor an...
Account Closed
Non-warrantable condo financing
I work for the US government overseas, and I want to buy a condo in Atlanta. The plan would be to rent it out for the next few years while I'm over here and then move right in when I return stateside.I've been able to...
Raul Dominguez
Looking for a San Antonio Contractor
BP community,Is anyone familiar with a good contractor in the San Antonio, TX area who is familiar with the 203k process? I am looking for a solid, dependable contractor who can work with the financing through the 20...
Jeff S.
Jenn-Air Issues
Recently bought a house with a 1978 Jenn-Air electric range. There are multiple problems and it looks tired. Have rented the house and don't want to spend $2500 on a new one. It is located in a room center so can't ve...
Joshua McKenzie
Two Houses on the property. Mortgage guy says it won't pass FHA
There's an acreage with two houses on the property. It's rural. My mortgage broker says that there is almost no chance that the property would go for FHA simply based on comparables. But from everywhere else I've bee...
Yang Lu
Rental Properties Age - What years built are inflection points?
Hey everyone,As I think about investment properties, one thing that always worries me is maintenance and repairs. I would THINK investing in newer homes is better to reduce the maintenance and repairs. But are there c...
Will Gaston
70k Construction Loans On A 30k Rental?
All:I'm looking for a construction loan on a rental property, which I assume will probably have to come from Hard Money or a Private Lender.Has anybody had an experience with doing a construction loan for a rental wit...
Aaron Cappelli
VA funding fee and tax deductions
I have run into an issue with my taxes. I bought my owner occupied 4 plex in OCT 2014. Therefore, the VA Funding fee (around 7000$) is all tax deductible for the tax year of 2014. The "tax professional" at H&R Blo...