Loren Blackwell
Unable to get a home loan under LLC
Hi there, my brother and I have just formed an LLC with the goal to flip a property. This will be our first investment and have found that we cannot get a loan under the LLC without 2 years of P&L statements.
We...
Erin Davis
Roommates -- do both get a renter's insurance policy?
Hello, I'm an infrequent landlord, and have never had roommates (med students) as tenants, so am unsure what this answer is. We are currently showing the place to them, and they would like to apply. SO: My lease ha...
Richard Yount
How to Set up Finances - First Property House Hack w/ in Law Ste
Hello All,Thank you in advance for the help. I'm reaching out as I'm getting ready to make my first purchase of a property. To give you the details on the property, it's a single family residence with two in law sui...
Peyton Boucek
Where I’m at right now and where I want to go
I’m 23 years old, graduated from university of Alabama may 2020 & currently employed in a 2-year commitment for a collegiate non-profit (ending may 1, 2022). As much as I’d love to begin my RE career this summer, ...
Diane Tycangco
Cash Out Paid For Rental to Get Downpayment for Another Rental
Hello, I am thinking of getting equity out of a paid-for rental and use it as a downpayment for another rental. Someone told me that when you do not use the loan to buy, improve the property you borrowed money from, ...
Samantha Klein
Do Portfolio lenders typically want reserves?
This question is for anyone who has a relationship with a portfolio lender, does your lender require a set amount of reserves per property like Fannie Mae? This is not a debate on whether you should have reserves. For...
Josh Thomas
Closing on a performing 1st note - process, legal, due diligence
Before I pull the trigger to sign a Purchase and Sale agreement for a performing 1st note from FCI, I'd like to understand the ideal closing process.Would you recommend I hire a local title company to preform a title ...
Eden Meng
Mid Term Rental under Solo 401K Plan
Hi Wonderful BP Community, I am in the process of acquiring an out of state property for mid term rental. The proceeds used to acquire the property will be from my solo 401K. I have my team on the ground when it comes...
Kyle Keller
High interest rate
I bought a house at the peak in December of 2022. I used a DSCR loan to get it done. 9.375% interest rate. I'm coming up on 2 years of income produced by the property, any suggestions on how to get a lower interest ra...
Account Closed
Using Self-Directed IRA to buy properties
I have a couple questions. I have about $25K in a self directed IRA. I want to use the money for purchasing a rental property for our real estate investing business. How would that work? Can we use part of it (being t...