Ed B.
Is it necessary to pay loan fees upfront?
I'm applying for a $125,000 construction loan. Lender wants 1 pt. and is offering 5%, due in two years.He wants the 1 pt. ($1250) upfront. I told him I'd prefer it be deducted from loan proceeds. He claims it's refund...
Richard Freedkin
Rarely or NEVER in this market trust an appraisal... here is why
Unless you know methods for extrapolating what the true market value is from being able to read and dissect an appraisal, do not under any circumstances take the value from an appraisal and expect it to be true (unles...
Lee Ripma
Delayed Financing for a 4plex in Kansas City MO
Hi BP community, I've read extensively about the delayed financing option where I close with my own cash and then am able to refinance using Fannie Mae based on the appraised value. Here is a link the relevant article...
Mark Campo
The right Realtor (Connecticut)
All,I currently have a realtor searching for multi-family properties as an investment in Connecticut. I have several concerns:1. I currently have been pre-approved by a conventional lender (up to 500k), and I also hav...
Grant Doyle
A 6 Days from closing and I am thinking of leaving the Deal
I am in the process of buying a 4800 squarefoot fourplex and we are expected to close this coming Tuesday. We agreed on the price of 173,000 with the seller paying most of my closing costs bringing my loan to 184,000....
Kevin Suksi
Do appraisers just hate flippers or what?
So here's a crazy story.
We picked up n REO to rehab. This home is a half mile away from another one that we sold in February for $111,000. The two homes are identical for all intents & purposes - 3/2 brick ran...
Michael Bramante
Money Source of America- Real or Scam?
Hello everyone,
I’m writing to see if anyone has used Money Source of America as their hard money lender. I have been looking through their financing programs and have received a pre-approval for a BRRR property th...
Mindy Jensen
Announcing Rookie Bootcamp 2.0!!! (CLOSED - Waitlist Link)
BOOTCAMP 2.0 IS NOW CLOSED!!!Did you miss it? While this next round is closed, we've heard such great things from the attendees of the first Bootcamp, and so much excitement from those who have signed up for Round Two...
Roshan K.
Appraisal coming in low, how to dispute?
I have a house that's under contract. I'm buying it at $150,850 (motivated seller) and 4 years ago it sold for $187,500. It is in the same shape as before.The appraisal came in at $155,000 and will cause me more than ...
Amir Stoudamire
Investing in HUD Homes? What Are Details that I Should Know
Hello everyone. I was talking with a real estate agent who said that he would be willing to assist me in buying real estate. In his email, he suggested looking into HUD homes. Now as a wholesaler, I have never dipp...