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...
Lexi Narducci
15-year fixed rate vs. 30 year fixed rate when trying to expand
I bought my first home in August 2020 and took out a loan of $450,000 with a 2.5% interest rate over a fixed 30-year period. Not surprisingly, most of my monthly payments are going towards interest with the 30-year fi...
Ernie Gutierrez
If I have Heloc can I cashout refinance?
Input requested. Thank you I have 150K equity in current home and just closed on Heloc and have zero balance on 75K HELOC credit line.Will I still be able to do a cash out refinance to have more accessible funds for r...
Matt Devincenzo
Re-performing note files Ch 7
I hold several re-performing 2nds in my IRA which are serviced by FCI. This morning I got an email that a borrower that was modified ~2 years ago and has been paying since then on time ect, filed Ch7 on 12/23. I'm loo...
Nick Causa
Cash out Refinance on Personal home
Complete noob but that seems to be ok around here. 2 questions and I have no one to ask advice from. (1) I would love to get started with a rental property and own a personal residence that has appreciated from the ...
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...
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...
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...
JJ Chojnowski
Commercial Loan on a 26 unit Apartment Complex
Jay Hinrichs, I hope you read this and could give me some advice. I currently own a 4-plex and a duplex in Utah and I'm working to 1031 exchange my properties into a 26 unit apartment complex. In my intial resea...
Michael Masters
Freddie Mac Liquidity Requirements
I have a multifamily property I'm interested in but it would put me on the edge as far as post-close liquidity. Consider the following:Required liquidity = $200,000Cash accounts = $150,000IRA accounts = $500,000Would...