I have a rental (market value close to 400K) with 100k mortgage left. I don't want to sell it right now, but want to get some cash out of it. Can I do cash out refinance on this? Is there any tax problem now or when I...
If a bank approves someone for a home loan at 80% LTV, could I give them a 2nd mortgage for the other 20%? would that get them approved?
Or do they have to have 20% in cash to make up the difference?
Thanks,
Richard
We are looking to use our line of credit for our down payment (while obtaining financing) and keep our cash in the bank. Do we have to transfer our money from the line of credit into our bank account to "season" as I...
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $299,000
Purchased as primary residence back in 2018 with no money in the deal. Mortgage is $1008 and currently renting...
So I have an LLC and own a few rentals. This year my daughter turned 16 and Grandpa gave her a cash birthday gift. So we're buying a rental together. It's owner finance, cash down payment of $2500, all costs (5%down p...
I have a deal under contract and have raised some capital from a private party to pay for it. The lender will be treating this as a "personal loan", meaning I will technically be paying cash for the property and have...
Hello All, I am currently renting a 3br 1bath SFH (my grandmother owns the property) and I mentioned my plans to save 10k this year to purchase a rental property and move out shortly after. I was told if I move she'd...
I'm a seasoned investor with a modest cash flowing portfolio ($2.8M value, $200K annual gross income) and capital in the bank. My wife and I have left the workforce and consider ourselves retired for the time being. ...
I am in the process of refinancing one of my rental properties and need an appraiser to enter. The tenants do not want the appraiser to enter due to COVID-19 concerns. There is a multi-generational family living in th...
I am looking at a property that is 650k. I am purchasing with a partner. Is it a problem having part of my half of the down payment coming from a signature loan from a family member?