Varun Vemulapalli
Lenders and new LLC
Hello all,I am looking for a solution to a problem. I am Varun bought couple of long term rentals and two STRs last year on my personal names. This year me and my wife looking to close my primary home which 900k with ...
Mike Schorah
What happens when a HELOC gets called due and you can’t pay it?
Or will they just lower the amount if you were to have negative equity?
Obinna Kanu
Buying with high debt-to-income ratio
Good day everyone. I am in the market to buy my first rental home but due to the mortgage on my personal home, my debt-to-income ratio is relatively high. Is there a workaround for the debt-to-income ratio issue? What...
Keenan Steverson
Screening tenants - 3 times the rent - their Gross or Net income?
When screening tenants, income is at least 3 times the rent (traditionally). Is that 3 times their Gross income or Net income? I assume Net, but being a rookie, I don't want to make any assumptions. Thanks!!
Will Coleman
Applying for a RLOC to flip houses
Howdy all, I am looking into applying for an RLOC (revolving line of credit) in order to flip houses in the DFW area. I am looking for some advice. I currently have two houses with some equity that I could use as coll...
Eric P.
0% for 21 month credit card as backup to get started?
Wife and I want to make 2017 the year we jump in. Too much analysis paralysis. Our thoughts are to start with a property around $100k. Approved for a 15% down loan with an online lender. We'd want 6 months of bill...
Russell Gooding
The Canadian market for a greenhorn
What does a bankrupt, burned out, mid 50's Canadian salesperson do in a doggy economy, a real estate market on the verge of tipping into the soup, do... wholesale, lease option sandwich, residential, apartments etc.,?...
Carlos Hernandez
HELOC for Fix and Flip: Need Advice with 65k Equity?
I currently own a property that I utilize for short-term rentals. My existing mortgage has an interest rate of 4.5%, and I owe $247,000 remaining on it. I have approximately $100,000 in equity built up. I'm considerin...
Billy Farley
Anybody using a LLC with a business line of credit to BRRRR?
I am looking to do my first BRRRR that I do not live in as a primary residence. I have successfully rehabbed two homes and provided over 120k in equity from them. My idea is to form an LLC with my partner to qualify f...
Mindy Pearmon
I'm trying to be creative purchasing my 1st property.
I don't have the cash for my 1st property I'd like to purchase as a holding. The house is next door and I have been in it. The only thing that NEEDS to be done is a new kitchen. Homepath is requesting a 20% down...