Terrence Evans
Possibly a dumb newbie question regarding NPNs
Ok so let's say I buy a a non-performing note for 30 cents on the dollar and I know that the area is someplace relatively depressed like say Detroit.Let's say that the balance was $30k and the property is worth half t...
Joe Walton
buying a property cash and refinancing
Hi, my wife and I are new to real estate investing and have decided that we are going to take the buy and hold rental property route. we live in Rochester MN and the market is pretty high right now. We were discuss...
Steve LeBlanc
Mortgage Brokers are Clueless
This is a venting post, so please bear with me.
I just spent 60 days in underwriting with Mutual of Omaha, Chesterfield MO only to be told today that my credit request was denied for "unable to verify income" and "ca...
Micki M.
Is it ethical (or legal) to suggest a borrower refinance a PN?
I bought a performing note which has been plugging along with prompt payments. However, I could use a chunk of cash more than monthly payments right now. Rather than sell the note, would it be unethical or illegal to...
Nick G.
Cash out LTV on primary in NY
Hey Mortgage Pro's, What LTV are lenders offering now on a cash out refi for a primary owner occupied in NY? Specifically in Westchester county. Also what's the average seasoning time to refi?Thanks!
Tamara Deering
Advice from a Lender on Refinancing your BRRR Property
Hello,Don't shoot the messenger!!! I want to share some feedback I just received from a major lender regarding a cash out refi of a hard money loan. In my day job working for a hard money lender, we issued a loan on...
Account Closed
Will paying cash for a deal punish us on Cash on Cash returns?
Is it harder to get a ten percent or more Cash on Cash return when doing cash deals? Seems like the only way we can up our Cash on Cash is to calculate the purchase with a much lower down payment... but we want to si...
Brandon Motuk
Refi from LLC to Personal
I currently own a property through my LLC that I am looking to refinance. I just had one lender tell me that if I wanted to "refinance" into my personal name (they don't lend to LLC's) then it would actually be a sal...
Joseph Hernandez
Should I assign my contract to a cash buyer or hard money investor?
Hello. I'm a newbie wholesaler. If I have a pre-foreclosure deal and the seller is in NOS stage, do I have to find a cash buyer for the deal, or can I assign the contract to a HML buyer by delaying the foreclosure, si...
Anne Christensen
Best Down Payment Option
Hello,I have several ways to fund a down payment on my first investment property and would like to know the "safest" way to do so...Cash, borrow against my 401K (and does this method constitue the start of my investme...