Pete Sailhamer
Mortgage Agreement for a Private Lender?
If I were to purchase a property solely with private lenders (say 3-4 different individuals) using debt financing (i.e. I own the property and they are the 'bank'), in addition to the Promissory Note should I also sig...
Brandon Wallace
Cash out refi to a higher APR?
I’m about a month out from finishing the rehab on the property. (I own a upper/lower. Upper is being rented out for $990/month and my mortgage is $760/month. I plan to live in the lower unit when finished) I have a 2....
Darren Campbell
50% rule or 2% rule?
I recently read Brandon Turners book on Rental Property Investing. I talked about the 2% (rents should be 2% of sale price) rule and 50% (rents should be multiplied by 0.5 - principal and interest if mortgage) rule. W...
Darren Horrocks
Do you buffer your mortgage interest rate when doing projections?
When doing cashflow projections on a prospective property, do you buffer your mortgage interest rate when doing projections? And if so, by how much and why?And have I made a big mistake by not doing so for my current ...
Rehaan Khan
How to buy a property on payments directly from the seller?
I'm trying to figure out a strategy on buying real estate from the seller on payments, adding value and reselling it for profit and thus, paying off the original seller. Please tell me what this strategy is called &am...
Megan S.
How difficult is it to refinance?
Hello, BP! I'm a new member - this is my first post. I've recently been diving into the world of real estate investing, trying to familiarize myself with the terms, different financing options, etc.I have a question a...
Hanyai Bungals
Commercial loan vs residential loan for a 4plex rental property
Hello, long time reader here.My business partner and I have discussed different real estate opportunities, and we have decided to go forward with purchasing a 4plex rental property for around 100-150k.We've spoken to ...
Chris S.
How many home equity loans can I have? I know the limit is 10 for mortgages, but is there a limit on home equity loans?
Hi! Just wondering if there's a limit on home equity loans. If not, and you have like $200,000 cash to start, could you just buy a $100k property, fix it up, rent it out and then get a home equity loan for $70k and ...
John Perry
Bid On House Subject to 1st mortgage... Advice Needed (Ohio)
I bid on what turned out to be a a 2nd mortgage in Ohio. The house is worth around $300k. I paid 258K at auction. Looking through the court records I can see that the 2nd mortgage was awarded ~100k. There are around ~...
Scott McWilliams
Should I sell Subject To?
I have a single-family property that hasn't appreciated much in the time that I have owned it, but through my value-add activities I have driven the rents up considerably. I split the property and now it is a 3/2 and ...