All Forum Posts by: David Bilandzija

I wonder if the forum admin would be okay with you posting a link to the listing.  It wouldn't be solicitation, purely informative.   Good luck getting booked!

@Nabil Suleiman Pencil me in for the next event.  

@Darius Kellar Great success story and well detailed.  The $2,500 house you pictured in Pontiac looks really well done.  Besides the podcast, are you sharing your knowledge, through meetups/networking, with others in your area looking to get into real estate? 

@Rahnesha White  Here's a simple calculation you can make to help with your decision...  take the cost of the buy down and divide by the amount saved each month over the par rate.  The resulting number is how many months it will take to break-even on the cost of the buy down.  

Using numbers from the 25% down option would give you this break down:

Loan Amount $54,750 

6.061% - $330 mo/payment  

5.875%  - $324 mo/payment  -  $6 dollar/mo savings at a cost of $331.79

Here's the math on the break even for the buy down:  $331.79 /  $6  =  55.29  months to break even  

Good luck!

Shucks, timing doesn't work for me on this particular meet up.  Catch you all at the next one.  Looking forward to meeting some like minded investors and real estate professionals.  

@Abraham Shamosh I agree with the other comments - credit is a factor.  Once you secure financing it is unlikely the mortgage will get reported to the credit bureaus.  It is common practice for lenders not to report mortgages to credit in business purpose/commercial loan space.  Good luck pumping the score up in the meantime.

Sorry to hear about your situation. 

Sounds like the seller/seller's realtor possibly misrepresented the facts.  They could be liable but that will be something for the courts to decide.  You may want to consult with a real estate attorney.   

@Hoa Nguyen  Look up "acceleration" and "due on sale clause."  You'll find your answer.  Be very careful and seek professional legal advice.  Good luck.  

@Cory Anderson From a leverage perspective, DSCR loans aren't as effective nowadays. Higher rates = higher payments = less cash flow = more difficult to get max leverage. They still serve their purpose. Realistically, that usually happens at a lower leverage or in markets where rents are higher relative to value.

"No Ratio DSCR" loans can be a strong alternative if getting a higher LTV is your goal. Rate is generally higher but the tradeoff makes sense for some.

@Sergey A. Petrov Sounds like a reasonable approach and I think your suggestion is worth checking out with the borrower's bank. Thank you for the response.