Jayson H.
Lender admits appraisal is for "liquidation" value!
I'm under contract to purchase a SFR for $135k. I'd conservatively estimate FMV at $145k to $150k. The local credit union I'm working with to finance the deal has performed a $450 "real estate evaluation" (i.e. off-si...
Maryann L.
short sale applications
Twice I've submitted packets to my negotiator and he's come back saying the lender wants their packet filled out and it's essentially the same exact information. He has been able to talk to the lender's negotiator a...
Adam B
Stay-at-home-dad looking for advice.
Hello BP community.
My wife is a Physician and with our first child being born 3 months ago we decided it would be best for me to quit my job as an engineer and become a full-time dad.
Finally getting out of the co...
Jane S.
Ouch! Report says he has too many derogatory items.
This hopeful 35 y.o. tenant paid to run a Rentprep report, the full one, and it turns out he has $84,000 in debt that he didnt mention on his original application. Rentprep said he has balance overlimit on a bankcard ...
Account Closed
Appraisers & Home Inspectors in Kansas City
Hi all,I'm considering paying cash for a property in Kansas City and then refinancing. Was wondering if anyone know any good arms-length appraisers and home inspectors in KCMO they would recommend?Thanks and I really ...
Sunshine Chow
Red flags to look for in HML agreement and project insurance?
Hi BP Fam!Can anyone please share some insight as to some specific items to look out for in hard money loan agreements and insurance policies for a fix and flip? What clauses should be included? or which clauses shoul...
Adam K.
Foreclosure/Rehab financing question
I am about to go to P&S on a sngle family home that is foreclosed and the house is not habitable. This is an investment property that I plan to rehab and flip. What is the best avenue for financing on a project ...
Byron Bohlsen
Trouble Chosing
Hi Folks,Hoping for some thoughts from some experienced landlords. I am trying to choose between two applicants. I think I know what to do but wanted to get feedback. Applicant A:Unmarried couple, very blue collar. At...
Cody Cross
Seller Financing vs Getting A Loan From The Bank
I have a deal under contract currently for $130,000. It's a tri-plex in Louisiana. I'm in contact with a local commercial bank and the seller is willing to finance the deal at 8% on 15 years or I can get a loan from t...
John P.
Seller Financing rates/terms for residential sale?
Thinking to sell a rental house in Memphis for around $200k. Thinking to offer seller financing to increase interest in the property and I like some of the advantages of seller financing. Have never done this before. ...