Hello Everyone,BackstoryMy 2 friends and I created an LLC to acquire real estate via financing.We got into contract with 2 houses with a purchase price of $115,000 and $112,500.We communicated with a lender(or so I th...

Hi All,I am buying a townhouse in the Phoenix area for around 190K with 30% down.My closing costs are around 10K, and I have great credit (over 800), which seems high, but I am a newbie so wanted some experienced eyes...

Hello,I'm currently in the middle of obtaining an 18 month hard money loan. I was wondering if the additional fees associated with obtaining the loan are industry standard.Points: 4Interest Rate: 12%Appraisal Fee: $45...

Looking into a commercial loan of $2,000,000. Never done any financing this large. Is it normal to have a 1% loan fee for a commercial property? Also appraisal is around $6500. All this seems high but a newbie to the ...

So I am acquiring my first property to buy and hold.  If everything goes on schedule the unit should be rent ready in mid-December.  I have been a prospective tenant that seems to be a good one.  They want to lease th...

Hello,I am looking for a specific type of online mortgage calculator - I am looking for one that can compare the costs between 2 different mortgages. To explain, I have been provided numbers on a 30 year fixed mortga...

Hi folks,

Hopefully a simple question.

I talked to a private lender recently and asked what typical closing costs were. I was told $5-6k, which didn't shock me too much.

Later in the conversation I asked what the...

Hello, how are private money lenders typically repaid for a BRRRR method transaction? Example: our lender is providing us with $40,000 for the purchase.  How (term, rate etc.) would they typically be repaid if we plan...

Finally purchased our first rental property! Being a newbie, I just wanted to reach out to the BP community and ask if these fees are usual or customery?100% of the first months rent.10% of the montly rental.3% of a y...

This is totally new for me. We purchased a condo in Westland yesterday for $8,000. Westland is between livonia, garden city, redford, canton, northville. The people that sold us #15 rental (#15 thread ) referred us to...