William Farnsworth
Negotiating Additional Reduction Short Sale Reverse Mortgage
My grandfather passed at the end of August with a reverse mortgage in excess of $850k on his home that was recently appraised at $585k. HUD has informed us that they'll accept a short sale for 95% ($557k). I had the t...
NaTarrio Jones
The Chelsea Duplex (My first Investment)
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Texas City.
Purchase price: $54,500
Cash invested: $32,315
Small Duplex. 2% Deal. 22% ROI. Monthly Cashflow is based on s...
Kevin Hofstee
First investment (and out of state)
Investment Info:
Single-family residence buy & hold investment in Grand Rapids.
Purchase price: $85,000
Cash invested: $58,000
Value-add out-of-state single family home purchased @25% down - cash...
Nat C.
Tips on asking for and getting discount or credit from seller
I submitted an offer on a foreclosure at 1K above asking price. The property looked like it required virtually no work.After my offer was accepted I found out it required substantial work. It has an illegal addition w...
Bryan Hancock
Sample Release Clauses For Blanket Loans
I was wondering if someone knew of a good spot to review sample legal language for some sample release clauses for blanket loans. We're about to contract with a seller who will finance a small development project for...
Matt Devincenzo
Performing 2nd borrower short sale docs?
So a borrower of a performing 2nd just submitted a 'Request for Mortgage Adjustment' to FCI and requested a short sale. All that was provided was a written summary of expenses, and the last 30 days of pay stubs. FCI h...
Carrin Johnson
Bill Summary: AB 1771 The California Housing Speculation Act: Impact on Fix and Flip
Assembly Bill 1771, also known as the California Housing Speculation Act, aims to change real estate tax policy to discourage investors from quickly reselling properties like single-family homes.
Under the proposed...
Mak K.
Utility & Maintenance Reduction Program?
I recently saw on a MLS listing "All residents will be enrolled in the Utility & Maintenance Reduction Program at an additional fee of $20.00 per month"Anybody any idea how this program work or what is it?
Eric Jones
Post CD and not bribing 20% down
I recently bought a home and the seller brought credits to the table. This was a 20% down second home and the credits ended up making it so I did not need to bring the full 20% down to the table. However, the bank did...
Renee Lee
Tax’s vs Equity - would it hurt to much?
My questions stem from velocity banking...1. I know there is a tax deduction for writing off the interest on an investment property is it dollar for dollar?2. Let’s say, an investment property has a mortgage and ...