Timothy W.
Suggestions on REO Financing - very small dollar loans
Hey Folks,
I have a question. Occasionally I come across an REO in my area that's available for an insanely low price (under $10,000) and while the thought of cash purchasing is there, I'd rather find a way to financ...
Sam Tright
How do note investors determine As-Is value? What % will you buy at?
1. Say a house is bought for $40k, $15k repairs needed. ARV $100,000. What is as is value? For a low priced house like this will you require an appraisal to determine it, or go off some desktop estimate?2. Once as is ...
Sarah Jones
Deal or no deal
The refi cost is going to be about $500 in appraisal fee and $4500 that will be added to the loan which comes to a cost of $5000, and I can get about $30k out.. So $5 to get out $30k is too much right? Is this a good ...
Jack Srimani
Bank refusing to lend on property for 25k
Hi,
I contacted my bank for financing a property I am buying which is approx. 25k. However my bank denied stating that they will be only financing properties of much higher value where the bank needs to lend at least ...
Jonathan Carter
Private Money (mortgage) Lending
So I have been approached by an investor with an opportunity to provide a private mortgage on a fix and flip. I've never done any PML but I do want to start. I'm trying to educate myself as quickly as possible. Her...
Brandon Elliott-Pandey
When do you become a Private Lender
My question to you... when does it make sense to become a private lender?I have a client dying to get into RE but has no funds other than his HELOC with about $100K available rn. The interest on barrowed money is some...
Adam Keffer
Private lending from my HELOC
Hi All,I current have a HELOC opened for $130,000 against my home (owned free and clear). The current rate is 4.94% last I checked (variable rate). I have a friend who has been flipping houses for a few years now and ...
Ken Rishel
HR 3849
As some of you know, the ability to finance manufactured homes by both outside lenders and through seller finance is seriously in question for homes where the loans are under $50,000.00 thanks to the Dodd-Frank Act. T...
Victor Gomez
Buying small multi-family at 20% discount
Hi All!I read the 7 years to 7 figures from Brandon Turner, and one of the things that he states is that we need to buy at 20% discount. I would like to ask to the BP community to hear any experiences you guys might h...
David Goings
Lender Offer
Hello all,My current strategy has been cash only on my deals but I have began exploring the possibility of leveraging. I recently sat down with a commercial loan officer from a relatively small bank. He seemed eager t...