TJ Verdiglione
Purchasing a Non-performing Note
Hey All,
I have the opportunity to buy a note from a bank on a commercial office property for well under what the property is worth, about a 40% discount. I have attorney's involved but am not clear on this process. ...
Tony Velez
Help with seller financing offer. And the NUMBERS!
Hi,Here is the story. This house has been on the market for over 2 years. Its a cute little house that always pops up in my searches. I've only seen the outside of the house. Last year they were asking $85,000. Now th...
Jim Goebel
IRA strategy - checkbook control, flips, then 72t?
We had a conversation with our CPA today and in the course of that a few 'new' ideas came up.I'm wondering for those that have utilized checkbook control for a business under a self directed IRA, then for instance don...
Daniel Halsted
Contacting the lender for pay off amount
How do you go about contacting the lender to find out how much someone owes on there property that is already in pre-foreclosure? Are there public / subscription web sites for this or can you just call the lender dir...
Noah Lomax
Title Company Requirments in Chicago for a Selling a Flip
Hey BP'ers,My partner and I are selling our first Flip in Chicago. We used a Fix/Flip loan to finance. The requirements to do so included in-person inspections before each draw, and a lien release after the final draw...
Hannah Vohs
Learn: What Is The Loan-To-Value Ratio In Real Estate Loans
When dealing with financing institutions, you’ll find that prior to approving a loan, they carefully vet your investment plan to assess the risk involved with financing it. To do so, there are several industry-standar...
Robin Wilk
FHA 203k Loan Question
Is it possible to refinance an existing mortgage into a FHA 203k loan on an owner occupied property and if it's possible does the property need to be occupied for the 1 year minimum like a traditional FHA loan? I'm lo...
Sandy Uhlmann
Second Lien Question-Short Sale
If a property is being sold as a short sale, is the first lienholder/lender obligated to pay the second lienholder anything? I had heard discussions that the first lienholder usually pays the second lienholder $3000 ...
Matt Ferch
Self directed 401K — BRRRR?
Is there any strategy that allows for a self-directed 401K or IRA to buy a BRRRR property, get cashed out upon refinance, and have the property somehow transfer out of the 401K so that resulting equity and cash flow a...
Nghi Le
Loan Release Provisions
We recently got a multiple property buy-and-hold deal under contract. It's a mixture of commercial (5+ units) and residential properties. We have a lender that's willing to put all of the properties under one loan (...