Josh M.
Lending (Heloc) questions
Hi, I have a few questions about using a Heloc and getting a loan for a second home (vacation that I do intend to stay in part of the year.)Scenario:House value:250KLoan balance: 50KEquity: 200KGoals/Plan:Get 10 STR p...
Jason Barton
Loans Based on Rents
Hello,I am looking to invest in a multiunit property, but I am nearing the debt to income ratio most banks require. I do not have the funds to pay all cash for the properties I am looking at. I am curious as to how sp...
Traci Lovelace
Florida Tenant not giving required notice - what next?
Hi All,This is our only rental property. We have a tenant whose lease ends August 31st. It is an annual lease and requires 60 days notice by the tenant if they aren't going to renew. I reached out to them on July 3...
Taylor Green
How much should borrowers track record matter when private lending?
Hi,
I was interested to see how much a borrowers track record should matter when you are thinking about lending on one of their properties.
If a borrower seems trustworthy and has a long, flawless track...
Jeff Stansberry
Finding a HELOC for a Rental Property
Hi everyone,Does anyone know of local banks / credit unions that give out HELOCs on rental properties (NOO)?I have a cash property that I'd like to remodel and refinance once the tenant moves out (1 year left on lease...
Carol Burns
Investing Cash Inheritance in Real Estate
hypothetical scenario:Someone inherits $1,000,000 and wants to invest a large portion of it into real estate. This person does not have a lot of income on paper in order to qualify for SFR loans. Where would you sug...
Russell Thomas
Mortgage Company will not allow assumption
Is this Legal? I am a Veteran and trying to assume the loan from my sister in law who is also a Veteran. I have met all the requirements pertaining to credit score and documents. However the Mortgage company told me t...
Kyle Brumenschenkel
Loan Payoff
Is there a way to find out the payoff balance on a loan in order to have a better idea of what price to offer a seller.
Bob Asad
How do you prevent co-mingling of funds?
If I have 2 rental properties and charging 1st, last, and security; can I take the last and security for both places (combined) and put them into a Bank of America savings account?In other words, I already have a chec...
John Ford
Rental cash-out refi options with "just ok" credit
My current home has $154k balance on my mortgage and would conservatively appraise at $300k.I'm closing on a new home next month that I'll be moving into and I plan to put my current home on the rental market for $180...