Koay B.
Gift of Equity, refinancing, rental
Hello,I need advice on what to do. My husband and I are in a unique situation in where the home we live in is owned by my father in law. The home is valued about $420k with a mortgage of $100k. We do not pay any mort...
Joy W.
Financing / DTI Question
Hello,Here is my dilemma. I'm a retiree. I've been in my home for some years, refinanced 3 yrs ago (no cash out) into a 15 yr @ 3% fixed rate with Wells Fargo. I'm interested in purchasing an investment property in th...
Hugo Navarro
Is there a way to borrow from a house to purchase another?
I own free and clear a rental property, but I’ve tried getting an equity loan to purchase another, but bank has said i can’t unless it’s my primary home... is there a certain person or way to pull a loan for another i...
Stephen B.
Refinance 6-unit property
I am currently under contract for 3-duplexes on one plot of land. My financing fell through and I am in a scramble to find financing before closing. The purchase price is $124k and I can put up to 40% down and local b...
Ted S.
Financial strategy to purchase more rental properties l
I personally own six rental properties in which I pay a total of $3720 in mortgage payments. One property worth 140,000 is paid off in full. I also own a five Plex which I owe 40,000 and is worth 300,000. My question ...
Benjamin Andrew Pogue
Pay with cash to get a better deal, do a home equity loan later?
Hi all,I have a deal that I am working on and wanted to get some ideas. The house is listed at $144k and ARV is $160k. In order to get a cash on cash return of at least 10% I need to buy at $120k. House needs new p...
Mark Hamilton
Trustee Rescinding Sale - California
The facts are straight forward:
1. I bought a Home Equity Loan in foreclosure. It was in the first position because a subsequent 'first' loan did not have a subordination agreement recorded. I received and recorded t...
Adam Keffer
Using a HELOC for Down Payment on a Duplex
Hi All,I've been looking at potential investment properties, mainly duplexes, and want to use the HELOC I have set up on my current residence (owned free and clear, appraised at 165k) for the down payment. The HELOC ...
Tim Hocker
My Plan to Finance my First Deal; realistic or fantasy?
Hi BP,I have been following the podcast for a while now, reading books, informing myself. I would like to get into real estate investing, but I have had never more than $2.000 in my bank account in my life. I now came...
Adam Keffer
Newbie from Pittsburgh, PA
Hi All! My names Adam and I'm a new member here from Pittsburgh, PA. I've always been interested in REI and have since become more serious since I found the BP Podcast and Forums. There is so much useful and awesom...