Nathan Waters
Profit and Loss Statement on Rental Properties.. Mortgage?
When you write up your profit and loss statement, how do you break down the mortgage? Is the interest, taxes and interest the only loss? I'm assuming principal is not written in the loss category even though it goes a...
Josh Dillingham
owner occupied triplex with 10% down?
Just placed my first offer today. It's a triplex in a short-sale. The asking price is 15% less than the assessed value and I offered 5% less than that, so it is like the bank won't go for it, but we'll see. My agent...
Keith N.
How to get Owner Occupant Financing for an "Unwarrantable" Condo
Hi All,I've been looking to make my first purchase for a few months now. I finally found a seller who is willing to give me an excellent deal on an off-market condo. I would be purchasing this condo for about 65K, w...
Tae Young Lee
Just Bought My First House in the Bronx!!!
I just bought my first property in the Bronx, north of Foxhurst. It's an 8 bedroom duplex, and I got it through a VA loan for $550,000. It took months of looking, a bunch of rejected offers, but I finally did it! Than...
Robert Rutledge
DSCR Lender Suggestions?
I've been in touch with a lender for a DSCR cash out throughout the rehab process on a purchase through an LLC.We are now ready to move forward, but the terms have now changed.Before proceeding, I wanted to check in o...
George Moehlenhoff
First Flip Blog
So I should be closing on my first flip next week. I am going to do my best to give back to this community by blogging as much as I can in this topic concerning my first flip... This will also be an easy way for me ...
David Noskiewicz
Veteran in need of Help!
I am a 30 year old Marine Corps. (9years) Veteran, I was quite embarrassed to start going to school a couple semesters ago, but after reading a couple books (of-course Mr. Turners, as well as Rich Dad:Poor Dad) I lit...
Tyson Jordan
Question About a Bank Loan
Hi,I am prequalified for a bank loan and will be closing on my property I have under contract.This is my first bank loan. When do I need to wire my down payment to the title company? Can I do it the day before closing...
Eric L.
Are my closing costs high?
I'm purchasing my first (HUD) home for $107K and I read that closing costs are typically 2-5%. I've attached a copy of my GFE here. Please let me know your thoughts.
Rajesh Thakkar
OFFER FROM USDA AND VA BUYER
Hi I have a offer on the first flip property, I put for sale. I have had a lot of interest, and currently just 2 weeks since listed I have had 4 offers. Currently I have a USDA loan buyer and VA loan buyer both offeri...