Scott Mac
How does an unsecured line of credit effect a new loan.
Re the DTI or any other metric lenders typically use.For instance:-- Loan applicant A has an unused unsecured line of credit for (example) $10,000.-- Loan applicant B has an unsecured line of credit also for $10,000, ...
James L.
Bundle loan vs. conventional
Hey everyone, so in an attempt to learn about and prequalify for loan I talked to a small community bank that said they do portfolio lending. I asked them about the different lending options available to me. I told th...
Daren H.
Sending Pictures of Distressed Property
Recently I have been driving for dollars in my local area and came across several vacant and run down properties in decent areas. I looked up the owners on the county tax appraisal district website and they live ou...
Scott Frame
Bank with Self-Service Proof of Funds
My wife and I are pursuing the BRRRR strategy and have sufficient cash in a savings account at our bank for our purchase and rehab. We made a cash offer a little while back on a property and when we requested a Proof...
Account Closed
Banks Destroying Real Estate Market
Heard from a real estate agent this morning:
House down the block from mine, listed at $385k, accepted a good offer of $345k. Bank appraisal came back at $243K.
Banks are using their own foreclosures as comps. So e...
Steven Perry
Turning Flips into Holds Financing
Hello All,I need help! I have secured my 2nd property this year (and overall). The first one I was able to flip and turn a $20,000 profit and this second one I expect between a $35,000-$45,000 profit on pending any ...
Corey Owen
Adviced Needed on Proof of funds from a private money lender
Hello BP Community! Once again I am in need of some advice. We have private investor that wants to back us on our next rehab project. Is there a way to show the investor's proof of funds on our behalf when submittin...
Aaron Junck
sub to financing
I am looking at doing a deal with someone and their personal financials are in terrible shape. Great deal since I can get a bargain on their house, however my question for all you " sub to" pros out there is this: ...
Daniela Bachvarova
Weird bank conditon
Hello everyone,I am in the process of buying a multi-family in Fort Lauderdale, FL. It will be my first property in the USA. I decided to go with TD Bank for financing. Among all the regular requirements for documenta...
Pedro Recarey
Vacant Property in Brooklyn
Hey BpI've trying to get my feet wet in wholesaling for a while now, I've seen some vacant Property in my area that I think would be great for wholesaling. My question is how do you find the owner in order to get in c...