Jake Williams
HELOC on Rental Property
My wife and I are nearing completion on the renovation of our primary residence in Eden Prairie Minnesota. We planned to get our home reappraised and take out a HELOC against the equity (~$100k). I am having conversat...
Aram V.
Self Employed - Less than 2 yrs
Hello! I'm in the middle of my 2nd year of Self-Employment and it's been a challenge to get a Cash-Out Refi without 2 yrs of Tax Returns. I claimed losses on my first year 2017, unaware of how unattractive I'd be fo...
Barry B.
construction loans ?
Is there a construction loan expert on the forum ? Besides the fact that I need to talk to one, I have a few questions that other may be able to answer -What sort of guarantee do banks look for in giving a constructio...
Brian Williams
LLC Formulation and Due on Sale Clause
In the Latest April News Podcast the guest host stated that banks never enforce the due on sale clause if the mortgage is transferred from an individual to an LLC. In fact he stated they rarely find out because they g...
Shannon X.
Does your parents debt carry on to you?
Just a thought that went through my mind, if your parents die do their debts carry on to the children? For instance, if my mother passed would I be reliable to pay off her credit card? I'm not a co-signer or on a join...
Leandrew Tirrell
Broken Condo
Hey Guys, I got myself into a bit of a pickle. I am in contract to purchase a 12 unit condo building for $2, 050,000. My building is part of a larger complex that also has an 18 unit building. The building is brand ne...
Steve Christensen
Transferring Property to LLC
I have a friend with a few properties who bought in his name with an umbrella policy. Now wants to transfer to an LLC. Mortgages are with Chase and US Bank, and they are giving him the run around. Is there a way to do...
Chris Brown
Federal Tax Lien on Foreclosure
Good morning BP,I am looking at a property in foreclosure that has a Federal Tax Lien recorded PRIOR to the recorded date of the first mortgage. In this scenario, the Federal Tax Lien would take priority, correct? SO ...
Mark Smith
Can't Figure Out Financing
I've found a property I would like to purchase, but I'm having a hard time figuring out a way to finance it. The asking price is $120k, and the problem I'm running into is that I cannot use gifted funds for the down ...
Chris Wong
New Member from Northern California (East Bay)
My name is Chris Wong, I currently live with my wife and daughter in San Ramon, CA. I am looking to get into retail commercial real estate. I've been working with a real estate agent, trying to find a property &l...