John Richards
Signature Line of Credit (Equity loan) liabilities?
Scenario:
House 'A' was entirely paid off. No outstanding loan. Primary residence (in Nevada).
Borrowed $ against house 'A' using a Signature Line of Credit HELOC (20yr. ARM) to purchase a single family residential...
Jason Somerville
Buying Rental Property in Personal Name Instead of LLC?
My wife and I have been investing in real estate for a couple years now and just formed an LLC. I asked a banker about purchasing a property in the LLCs name and she said if we did that the loan couldn’t go to the sec...
Kenneth Vargas
Trying to obtain rental properties ....
We just moved to central Florida back in April 2016 and also own a home in Pittsburgh PA which are currently renting. I have been keeping my eye out for a few rental properties around the area. My wife and I saw a 5BD...
Jack Hurdle
Where to get down payment?
So I get that you use some sort of loan to buy a house if you dont have cash. Where do you get the 10 to 20 percent down payment from?Is that from savings? Hard money?If from a private lender, what kind of terms are g...
Fahim Siddiqui
Whats a Execution Sale?
Ive recently found out that the Sheriff's office holds a execution sale. I am fairly new to this, so if anyone can shed some light that would be greatly appreciated.Also what happens when you are the highest bidder i...
Bob Malecki
Need help with 4 plex going into receivership
I acquired a 2nd position note on a 4 plex located in WA state, the borrower does not live at the property. Its scheduled to be sold this November and I was expecting to get a decent payoff on my note, but the prelimi...
Fred Sams
Need Clarification on Apartment pro forma
Reviewing a deal I received from a broker "16 Unit Apartment Bldg". In the Five Year ProForma, The Seller is reimbursing the 1st year management fees which is about 10 % of the net rental.As well as the 1st year HOA F...
Delfin F.
Taking out a mortgage in your name and than titling to LLC.
Hi to everyone,I'm a small investor and I'm new to BiggerPockets.Great site by the way,very helpful.I have a question that I haven't been able to answer.If I get a mortgage in my name and than I form an LLc and title ...
Eddie T.
Santander Bank Line Of Credit
Hello all, I wanted to ask if anyone in the BP community has ever applied for a personal line of credit or a business line of credit with Santander Bank and if so what your experience has been.The credit union I belon...
Dave S.
Heloc on investment property
I just called 6 banks in WA state to try and get a HELOC on a rental property. The purpose of the HELOC would be used for a partial down payment on another investment property. All 6 said if the intended use is to pur...