Nicholas Crawford
Need help figuring out refinance situation! Please!
The situationHouse is rented for $2,200/month. Property is currently in a bridge loan ($2,200/mo). Rehab took much longer than intended for various reasons numbers quit working as interest rates went up. I'm self empl...
Dominic Dotson
How to get 10 homes in my personal name.
I always hear you can get 10 homes in your personal name with a conventional bank loan. But i'm not sure what wage I need to make or the average cost of the 10 single family homes for me to reach that goal. So can som...
Nicolas Biangel
CREDIT SCORES AND LLC
Hey everyone! I'm a novice investor with two properties under belt, currently waiting on feedback from the bank for a 3rd. Since I started earlier this year, my personal credit has taken a hit (which I expected as a...
David Crutcher Jr.
Bad Situation
Ok BP this is an actual situation. So a family member gets sick and let her house which was bank owned with a mortgage get behind on her mortgage and utility bills to the point of potential foreclosure. Her sister ste...
Tre Mcfadden
Advice please
O.k i've been lurking and posting here over a year now but im a little nervous about taking the plunge. Heres my situation, i have 45k, terrible credit, monthly income of 3500 as of april 08 (new job). My thought wa...
Colby D Hollins
Appraisal came in low on a 203k loan...now what?
Hello BP members,So I am about to close on my 203k construction loan; however, my appraisal came in lower than what I needed it to be at.Details:Purchase price: $105kRehab + contingency: $100kLoan amount: $205kDown pa...
Paul Huntley
I Need Help Structuring a Short Sale Offer
I wanted to know the best way to structure an offer to the bank (before the BPO is ordered) for a Short Sale. Here is an example:
1st loan balance: $600,000 (Bank of Amer.)
2nd loan balance: $200,000 (Wells Fargo)
...
Jonathan Franchini
Portfolio loans or local lenders for out of state investors
Hello BP community,
Has anyone faced a hurdle to obtain loans from local banks, because one is not a local resident?
I purchased a rental property in Birmingham, Alabama and have contacted every local bank there an...
Jeremy Buckley
SDIRA banking questions
I own a property inside my SDIRA. All of the rental income goes into the bank that was recommended by my SDIRA facilitator. The bank is great. It's been recommended here many times for SDIRA and Solo 401K accounts. I ...
Cordia Simon
Limitless Lyfestyles funding for newbie investors?
Hi All! Newbie Investor here👋 Myself and a few family members started our REI company back in April. We've yet to get a property under contract since we're in the process of securing funding. Has anyone used Limitless...