Jack K.
Better deal with cash?
I'm considering a strategy that would utilize a line of credit (say $75k) to purchase properties in the $30k-$75k range. Once purchased, I would utilize the LOC to update the property and then advertise for rental. ...
Rob Carey
Commercial Policy Claim : Lender Calling the Note Due
Here is my situation: hail damage and upcoming claim for 20k of repairs on a rental home. Insurance policy is a commercial policy under my LLC. When the insurance company issues the check it will have the LLC name an...
Winston Parks
FHA 223(f) Apartment Financing Nashville TN
Hey BP,My goal is to develop an 8-12+ unit building with myself living on premises. Has anyone used FHA for the land and construction cost of a new apartment building? I have absolutely no experience in building resid...
Pamela M.
Buying foreclosures from banks
I just made an offer on a foreclosure to use as a rental. Yesterday, the seller/bank responded with an unsigned counter. I agreed to their suggested price and terms and signed it asking for a quick close. Today, th...
CJ M.
CARES Act - when can I evict?
Hello, so I'm confused about something. Courts have been hearing eviction cases in my area for about a month. I haven't had to evict anyone since last year, but I was in eviction court today as a "representative" for ...
Jeff B.
What is DTI & how is it evaluated?
Debt-to-Income Ratios are the heart of lending, after all, the new loan needs to have a hope of being paid from income. Notice, ratios, plural. There are two and they indicate different risks to the lender, Front-E...
Mark Feaver
Refinancing From an FHA to Conventional
Searching for a creative lender or guidance. I will do my best to keep this straight to the point and concise.
One year ago purchased a triplex with FHAPlanned to move in and delivered 60 days notice to tenantTenant...
Freddie Williams
Chicago market for multifamily???
I have noticed alot of multifamily properties listed for sale and low prices. Just curious what is everyone's thoughts about this market.
Nicole Bryan
Short sale to foreclose in less than one week. Need advise to save the deal please!
Hello!
I have an offer on a short sale that is scheduled to foreclose on 9/6. The commitment letter came in yesterday and there are several items that need to be taken care of prior to closing. The issue is t...
Ryan Terwilliger
Loan and LLC
I am trying to get a LLC set up, the bank requires one to close. This is my first time so can someone give me some advice on how and where to go to? Attorney? Legal zoom? Other site? There seem to be a lot of choices ...