Antonio Pican
Understanding debt financing - multifamily
After doing some hefty learning for the past several months I am failing to understand the described below scenario: If I buy a multifamily property at 600k with 20% down and finance the rest at say 6%..after running ...
Kelly M.
Cash Out Refi Question
Hi Everyone! I’m finally almost done renovations on my three unit property and I have leases on all units. I want to do a cash out refi. My lender says they can do up to 70% LTV. I was just wondering how common 75% ...
Ann Werner
Complete newbie from Sandy, Utah
Greetings, everyone! My name is Ann Werner, and currently I am a stay-at-home mom in Sandy, Utah. I have been reading many books and listening to podcasts (especially Bigger Pockets!), and am hungry for change in my...
Mitch MacDonald
Subject To with a Contractor Lien
Hey Everyone, This weekend I met with a potential seller and after discussing his situation it seems as if the best course of action would be to purchase the property subject to the existing debts on the property. He ...
Ben Roberts
Two properties in Memphis already rented, but how do I fund it?
I'm looking at two rental properties in Memphis, TN that I think are a pretty good deal. I'm wording if it's really a good deal and how to fund it.The two properties are rented for $725 each, one with tenants who hav...
Nick G.
Bank recommendation for loan in New jersey
Hi everyone,I have three rental properties in Union County, NJ that have been rented starting 2011. I own them free and clear-no mortgage etc. I am looking to get a "cash out" loan on the equity in these properties.Wh...
Carl M.
NEPA Flipper considering Buy and Hold
Hello everyone.
I am relatively new to BP. I have flipped 9 homes to date under our S-Corp and we are now considering buy and hold. I am 47 years old and really desiring to create passive income. I am struggling wit...
Dina C.
Are gift funds allowed when purchasing a second house?
I bought a house for $300K in cash 6 months ago that I want to use as a vacation house. My domestic partner gave me $60K as a "gift" and I am adding him to the title. I want to get a 30-year mortgage now and pull my c...
Zach Norton
How Would You Finance This Duplex?
Hello BP,I have purchased two BRRRR properties this year using personal LOCs through my lender. Both homes were purchased with cash and most of the renovations were paid out of pocket. Both are doing well and are rent...
Account Closed
BRRRR: Can a freelancer get a refinance on a paid-off property?
I have been reading about the BRRRR method of investing, and I am very interested in trying this in the future. However, there is one step that I need some clarification on, refinancing.Currently, I have a W2 job, dec...