All Forum Posts by: Bob Reinhard

I am involved with STR lending; I've sent you a direct message [for discretion purposes] with some parameters for your information.

Much success

Bob

Reach out any time.
Much success!
Bob

A lien is a lien is a lien; as to the first part of your question only.
What would be invalid about it, other than your speculation?
If you use an attorney, and have asked "every attorney," I am uncertain how it helps to substitute your second-guess.
Much success!
Bob

Ah the, the city ... much success !

I don’t know how it acquires its data for resale but generally there are 3 main ways to do this.

• -Buy it governmental body in electronic format – e.g. property tax data; and residential property data (# bdrms/# bthrms).
• -Buy source recorded data from a government entity – e.g. deed info, mortgage info - and input onto a self-created database.
• -Individually created but bulked – e.g. multiple listing service where the bulk is by individual agents.

Much success.

Bob

A HUD foreclosure is the foreclosure of a loan that was insured by the FHA. When a homeowner defaults on this government-backed loan, HUD pays off the mortgage and becomes the property's de facto owner. To recoup financial losses, HUD then puts the house on the market.

That being said, if you crunch your numbers, and you know your max bid, does any of the rest matter?  It only does if you think of going higher, but then, why crunch numbers?  You lose nothing by bidding within your parameters. If you lose the bid, it has cost you $0.00.

Much success.

I am not exactly certain what you are asking Skyy ... but in terms of payments and borrowing, my lending partners provide up to 80% Loan to value (LTV) on short term rentals; provided that you have adequate reserves available to cover operating income for at least one (1) year.
If you are looking for a STR to bootstrap you, please know that generally the LTV will be lower on a cash-out refinance than that on a purchase.
Much success!
Bob

Welcome !  "Cash only" means no mortgage contingency. That being said, hard money or private money, provided by the time of the close, is a fungible alternative to "cash only". So, That's that.

You will of course need some $$ down for any purchase regardless ... on an auction usually 10% on winning the bid - Not Refundable.

Likely fixing it up (if distressed) will require work ... work for which you seem to lack the requisite experience, thereby making a HML less likely.

So again, now having some more info on what happens, I would suggest partnering up with someone who has some rehab experience in order to make it happen.

Much success.

Bob

Successful lesson learned!
Congrats.
Bob 

Mill Plain Diner off I-84 exit 2 heading eastbound

All levels of experience -- all levels of involvement. Join us at the diner. We try to start and end promptly.

ALL are welcome.

This event may also be found on MeetUp :
https://www.meetup.com/I-84-NY-CT-corridor-Real-Estate-Investors-Networkers-Meetup/events/285486318?utm_medium=referral&utm_campaign=share-btn_savedevents_share_modal&utm_source=link

See you there.

Bob