All Forum Posts by: Dave Skow
Dave Skow has started 1 posts and replied 2559 times.
Post: Do Rehabbers buy expensive houses?

- Lender
- Seattle, WA
- Posts 2,618
- Votes 899
@Mel Park- thanks ...this isnt too common ...but if this were to happen - the potential buyer would likely offer you such a low price that you would even consider it
Post: Parents battling foreclosure for years

- Lender
- Seattle, WA
- Posts 2,618
- Votes 899
@Matt Morgan- thanks - its very unlikely that the 2nd lender will acept an offer like this . they can certianly request/ inquire if this an option . You might suggest they locate and use a real estate attorney to assist with this plan .
@Tyler Henkel- thanks and welcome . Definitely get your financing plans in place ....get pre approved for a hyptothetical scenario so you be able to finance your first deal . If you dont have any verfiable employment / income - you might not be able to obtain traditional financing .
Post: Lending options for 77k off market SFH

- Lender
- Seattle, WA
- Posts 2,618
- Votes 899
@Michael Oliver- thanks for the post ...if you are purchasing a 1 unit investment property for 77K - the max loan amt will likely be $65,450 ( 85% ltv) ...there should be several lenders able to help with this loan amt .
Post: LF lender for cannabis is farm

- Lender
- Seattle, WA
- Posts 2,618
- Votes 899
@Kevin Kite- try working with the present lender on refinance / extension terms
Post: Do different agency lenders have different pricing?

- Lender
- Seattle, WA
- Posts 2,618
- Votes 899
@Lou Bar- thanks ...all lenders should be in the same ballpark with pricing options BUT .....they will likely also vary ....best thing to do if needing a loan is to contact several lenders on the same day / use the same criteia / get quotes for the scenario and then make a decsion on using one for the loan or the pre approval ...also keep in mind that loan pricing changes daily
Post: Potential Lending Options

- Lender
- Seattle, WA
- Posts 2,618
- Votes 899
@Deonte Hill- thanks ....assuming the property will be a 1 unit investments proeprty - there are loan programs that allows as low as 15% of price as down payment ...( so 30K would be needed for the down in your plans) ...if you plan to buy and live in the property - there are many programs that allow less than 5% of price down payment . I recommend to get fully pre approved so you can be prepared / educated and aware of your options and the present numbers
Post: Looking to buy first rental property

- Lender
- Seattle, WA
- Posts 2,618
- Votes 899
@Jake Posner- thanks for the post ...if you plan on needing financing for the rental proeprty - make sure to get fully pre approved for the hypotehtical scenario you are planning ...use a loan officer or lender that is licensed is all the states you are looking at . thanks
Post: First time making rental in Warren, Michigan. Any advice?

- Lender
- Seattle, WA
- Posts 2,618
- Votes 899
@Danny Van- thanks 1) if you have some equity in the property - you might consider getting a HELOC in place now in case you want to use any equity in the future ...Its easier to get a heloc in place on a primary home as compared to a rental 2) contact your insurance agent and ask for an estimate for how the insurance coverage and premium will change 3) consider a proeprty management firm if you dont want to self manage 4) get any forms and processes in place ( leases / credit checks / bank accounts/ etc ....)
Post: Engagement Fee for a loan: LENDBASE

- Lender
- Seattle, WA
- Posts 2,618
- Votes 899
engagement fee?....