Chris C.
How much money do I need for a $300,000 rental?
Hello everyone. I’m trying to put together a budget to figure out how much money I need for a $300k investment property. The goal is appreciation and equity growth rather than high cash flow.I get I’ll need $60,000 fo...
Arthur Garcia
HELOC or Cash Out Refi: opinions?
Hey BP,
Here is my situation, I own a F/C property - value 55-605
I just found a local bank that will give me a HELOC at 4.5% for 10 years at 70% LTV. Another option is to get a portfolio loan with them at 6% for ...
Vincent Plant
HELOC on your primary residence?
Hello all,
What are your thoughts on this:
Our primary residence is currently worth approx $250k.
We currently owe $170k.
We are looking to explore the option of using a home equity line of credit to fund our ...
Eseta Matasau
Earnest money/Closing cost questions
1)How much is generally required for earnest money? Is there a state standard percentage of how much money is needed for EMD? (I live in CA, btw.) or is it just negotiable?2) Can you use a credit card to pay for the e...
Wade Garrett
Fannie Mae Rates for Multifamily??
I am in contract on a fourplex and have four conventional rate quotes that are varying drastically. Background: It will be an owner occupied fourplex, 30 yr fixed rate with 20% down. $400k purchase price. Two brick an...
Matt Williams
Converting POH to TOH - who is responsible for maintenance?
I'm aware of the advantages of having a park 100% or at least mostly tenant-owned homes.However, during the process of converting park-owned homes over to tenant-owned homes (using some form of Rent Credit format), wh...
Kenny Lincoln
How To Understand Reserves Needed for Financing
Looking for feedback about the following scenario, thanks BP. Plan to sell an investment property and receive around $215k. I would like to use a 1031 exchange to leverage all of this money. I’m trying to get an under...
N/A N/A
Credit sucks and I want to be a real estate guru.
Hello All and Happy New Year.
I am pumped for the new year for so many reasons. I am really desirous of becoming a real estate investing guru but I need some direction. I have read all the books Russ Whitney, Robert K...
Trevor Levine
When do additional credit inquiries NOT hurt your credit score?
A lender told me that if I let several banks/lenders pull my credit within a short timeframe (like 14-21 days), it won't hurt my score anymore than if there was just one credit inquiry. But they weren't sure of the ti...
NA Jones
What will a lender require? (Conventional loan)
Forgive this completely noob question, but my husband and I will likely try to finance our first property the uncreative way with a conventional loan.Does anyone know what a lender is likely to require regarding down ...