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So in order to get money for a deal you have to find a deal first and have it under contract, but in order to have a deal under contract you need proof of funds… so how do you get that proof of funds to make offers?
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Hey, bp community! I have a question about conventional loans. When applying for a loan, do I have to be very specific about the area I want to invest in? Such as zip code? Or once I am approved would I be able to mak...
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I recently got pre-approved for a mortgage, but now as I had an offer accepted, I am having issues getting final approval. My current gross income is $5,120/mon but part of it is from my GI Bill which traditional bank...
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Investment Info:
Single-family residence buy & hold investment.
Purchase price: $1,500,000
looking into property purchase, will purchase within 3-6 months
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So I have an investor client who is using a hard money lender offering 7% and 2 points (the "broker" is adding 2 points and a $1000 application fee). They run credit, require 2 year tax returns, pay stubs, 10% down a...
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We are selling our family home in the SF Bay Area. We expect to receive multiple offers, maybe as much as $1 million. Choosing the highest offer is simple, but I want to avoid two things: (1) a buyer who can't qualify...
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Hello BP. I found what I believe is a pretty good first deal. But I can't see the property without a POF or Preapproval letter! I would be looking for a Private Lender or HML if necessary. The property is in MA.
Ask...
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I think I am at the point where I need to start using hard money. What should I, or what do I need to do first? Do I get some kind of preapproval? Do I find the property first? Do I make a offer contingent on financin...
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I've read that it's best to use a local lender if investing out of state, however if I am looking to invest in several different states, is it best to get pre-approval from a nationwide bank so that I can make an offe...
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Hello all!I have been reading, listening, and learning about various ways of real estate investing for a little over 6 months now and I am ready to take leap on my first deal/project. My girlfriend and I have been wan...