Rachel Murphy
Debt-income ratio too high for loan approval
Hello everyone,I recently got in touch with a mortgage broker so he could run my numbers and tell me what I could afford to purchase. He came back and told me that my debt-income ratio is already at 58% WITHOUT consid...
Account Closed
The Ultimate Location Question
If you were to invest into a small owner-occupied multi-family right now, where would it be located?A little bit of the question background: I'm a recent college grad with a good job in IT that requires 100% travel so...
Jared McCool
The Offer - Understanding the Numbers
Hey all, Looking for some help. This is my first property, and i am having a hard time understanding the numbers. Reo for 218kI want to offer 170k, this is a 203k with estimated 50k in repairs. i am asking seller (ba...
Libby Baugher
Should I use 30 yr or 15 yr loan for my rental properties?
I have a question regarding which loan to use for my rental properties. Here is some background on me. I am 51 years old and am just beginning my real estate portfolio. I have a good paying, secure job making 6 figure...
Alexander Stephenson
Currency Bubble,The Next Great Recession?
Have you ever heard of a currency bubble? One could liken it to what happened to Germany after World War 1. The government printed money at an exorbitant rate in an attempt to stimulate the country's economy. Did i...
James Vann
Will this work?
So, i am wanting to do some real estate investing- but currently I have been renting my own residence for the last 5 years. I am paying way more in rent than it would cost me to make payments on a similar home. In f...
Matthew Tregoning
Should I use a VA or FHA loan first?
Hey Guys,
I'm planning out my real estate strategy now and need help deciding which loan to use first. I PCS in March and plan to buy a multifamily property, occupy for a year, then buy another multifamily to occupy....
Meredith Mihm
Duplex interest rates
We're putting in an offer on a duplex in Winona, MN. Our normal lender just quoted us 4.9%, with 25% down on a 30 year. I'm hoping we can beat that! All help is appreciated!
Steve L.
Who do you bank with and why?
I am debating if I should change my primary bank but I am still unsure.
Currently, I bank with US Bank. They have a good online system, you can see scanned copies of the front & back for checks and the front &am...
Nazar Trilisky
Private Lending Risks and Mitigation
Are both a Promissory Note as well as a Deed of Trust needed for a small private loan (~10% of single-family house cost)? I've gotten two "yes" and two "no" responses regarding the need for a Deed of Trust. All four...