Daniel O'Donohue
Hard Money Lenders and Foreclosures
Can you use hard money loans to purchase foreclosures? If so, what will you need to bring as proof to the auction?
Pixel Rogue
Land-lording exit plan
Hello everyone,
Looking for a thoughtful exit plan from land-lording. Been at this business for 20 years and there is more to life than wearing maintenance and cleaner hats al the time. This was originally a 5 year p...
STEPHEN YUAN
Who is right? Who's the crook?
Guy 1: My mentor offered a Duplex R/E option to me at 17,000 with purchase price being 85,000. It is located at Del Rio, Tx 78840. Basically here's the numbers he told me:$85,000.00Investment$17,000.00Rent$1,3200.00in...
Ed Yuen
1031 Exchange scenario with low credit score
Hello everyone,
I have a client with a credit score below 620 which makes it tough to get a loan. Can they do a 1031 exchange and use their funds towards the down payment of a property and have their daughter take ou...
Ron K.
When might someone assume my Fannie Mae Small Balance Loan?
Hi all,I refinanced a multifamily in September of 2019 with a Fannie Mae Small Balance Loan. All along, it looked like the rate would be about 3.75%, but I was told I couldn't lock. Then right at closing, I was told,...
Chris Simmons
Oklahoma Sheriff's Auction Bidding Options
I live in Tulsa, OK and we have a rule that 1) I don't understand the purpose of and 2) has kept me away from Sheriff's Auctions for foreclosures. I recently heard about a twist to it that I hope someone who has deal...
Jason Polykoff
The 50% Rule adjusted when you know PITI
Hi BP, quick question... if you know the PITI of a property, how should you adjust the 50% rule to account for vacancy, maintenance, etc.? Would it be more like the 25% rule at that point? Thanks!
Parker Whiteway
JV Deals - How are these structured?
Hi All,I've come across a couple of buildings I want to buy, but don't have enough money for both. I hear a lot about people partnering up with a money person to do these deals, but I'm completely in the dark about t...
Charlie Van Norman
Questions on typical partnership arrangements for 300k investment
Hi BP,
Before I ask, I'm sure this question already exists but all I found were generalizations when I searched.. maybe I need to learn to search better! If you found something please let me know the terms you used....
Jacob Barnhart
Two names on loan and deed, but one pays all bills. Equal owners?
I am going to start out by saying I know this is a bad idea. Unfortunately my girlfriend is not as logical.I have just been denied on a loan after having pre-approval and making it close to closing on a home. The lend...