Sarah Jukes
Refi loan Rebate/Points reasonable?
6 months ago we got our 1st refi cash out against our home to purchase a rental property, plus a mortgage on that property. Costing us over $10,000 in broker/underwriter fees for the 2 loans. Our mortgage broker conta...
Bill Baldwin
Six months mortgage reserves required?
Hey all - question on necessary reserves when applying for a loan through a US bank. I'm currently working on closing my second US property, first time financing through a bank. They just mentioned that I need to show...
Denise Holder
borrowing when 1099
Hello,
Although there are great benefits to being a 1099 employee, borrowing is proving difficult. I need to borrow 20k for a Reno of a cabin in the Allegheny mountains. I went 1099 in January (less than 2 years) a...
Billy W.
Cap Rate - Add back depreciation/Amor?
Hey,
If I am looking at a properties income statement, do I add back depreciation and amortization into net income before non cash items?
For example, I have a friend who's dad wants to sell his 100 unit property fo...
Mitch Foster
W2 to Self Employment: Creative Financing Options
Hey Bigger Pockets, back in April I switched from a W2 job I had for 5 years to self employment. I've talked to about 30 lenders and get the typical response of "you need 2 years of verifiable self employment income"....
Brandon LaFrance
Getting A loan without proof of income history
I'm looking to purchase my first investment property now that I have saved a sufficient amount of cash, however I've hit a roadblock when it comes to financing. I cannot prove income for previous years because up unti...
Amber Masterson
What to do when Turnkey property seller kept tenant security deposit..
I bought a duplex about three years ago from a turnkey company. They already had property management in place and I continued with that pm. I am in the process of switching to a new pm and I just found out the turnkey...
Jacob A Clark
25 unit Multifamily Chattanooga
Currently in the process of underwriting and finding equity partners for a deal our team sourced in Chattanooga. It's 25 units, off-market (we are direct to seller on it) and is a value add opportunity. Class B-/C+ pr...
Sam R.
Verification of income and expenses
What kind of paperwork does your lender request in order to verify the income and expenses of a commercial residential property? Leases? Utility bills? Tax returns of the seller?
Misti Barnes
Need advice about a new construction investment
Hi,
Looking for advice. I started late, and my fiancé and I moved to Sarasota, Florida last June. Couldn’t afford to buy in California and we were just living to work and get by
We both own our own businesses, we...