When I do my BRRRs I don't usually do the max cash out amount
I want my loan amounts lower. This way I'm able to sell the property quickly with meat on the bone if needed
Don't want to be over levered
Am I looking at this wrong?
How to put zero dollars down using hard money lenders
You found a great deal on a property.
Let’s say the property is worth 800k and you have the property under contract for 600k.
You go to the bank and they still want you to put down 20%, well that doesn’t make much sense.
Go to your hard money lender and get a loan for a 6 month time period or shortest possible.
After the 6 months is over, go back to the bank have them come out for a refinance instead of a purchase contract.
The bank will base money they give you based on the appraisal NOT on the irrelevant purchase price of the property.
Now you have the property for zero money down.
One of my main hard money lenders I broker for lends in more states now:
FL, GA, IN, KS, MO, NC, SC, TN, TX, VA, OK, KY, AL, PA, OH
- Requires no experience
- No minimum credit
- Allows 2nd position
- Can close in 3 days
- 90% LTC
- No appraisal
Let me know if you have something coming up!
Friends:
Buddy signed a 1y agreement with CoStar last year.
Few weeks before the year ended, he told them he won't subscribe for a 2nd year.
CoStar's *website* states he had to give his cancelation notice further in advance, and that he must renew.
What's the move?
This billionaire criticized China’s government.
Then he vanished for 3 months.
When he returned, he had lost:
- $40 billion
- His powerful voice
- Control of his company, Alibaba
Here’s the story of the strange disappearance of the Chinese Jeff Bezos:
So many don’t believe an 08 can happen again.
Many believe housing won’t be touched because “we don’t have enough supply”
Housing might not lead this downturn, but it can be impacted.
Brace yourself, I think this is going to get ugly fast.
Markets keep dropping, spending stops, unemployment rises and we have problems.
I hope I’m wrong, but too many got too rich too fast - they are going to give it back.
17 years of tailwinds made everyone look smart
Buckle up buttercup
@VladTheInflator Take over their mortgage subject to (they probably have a better rate than the buyer’s are getting today) and apply the down payment towards the arrears, homeowners only get what’s leftover, if any are left over.
ALERT: #DPD Officers are investigating a shooting near the 2600 Blk of N Federal. One victim has been transported to the hospital with unknown extent of injuries. Officer are working to gather more information. Updates will be posted to this thread. #Denver.
Hypothetically, you have $500k sitting in cash right now.
You want the highest ROI possible over the next 6-12 months.
What’s exactly would to do? Be specific!