All Forum Posts by: Jason Guinard

Got it, thank you.

@Nghi Le

Thank you for the info Nghi.  I am not sure of those upfront fees, but I will check on that tomorrow.  Term is 12 months no fee for pre-payment, Yes they do charge interest on the un-drawn funds, they said 3 weeks on funds.  

I didn't think I could use LLC name because I do not have any established credit and or income through LLC?? Nothing under contract, they said they would pre approve me for max I qualify for and supply me with POF's. I will make sure I buy under LLC, that's why I was asking about having approval in my name. I will also check this with lender tomorrow.

I am going to check in with attorney and CPA before going through with anything.  Thank you again.

@Nghi Le, @Christopher Phillips, @Jon Holdman

Hello all, good back and forth. I have a quick question. I just applied for pre approval for HML, I do not foresee any problem getting it, but being it is for my 1st project the terms are not great. I understand I have to establish myself so that is ok. (90% purchase, 100% rehab, 12 Months, 4 points , and 12%) ouch but I am focusing on 6 month projects.

Anyway, my question. I applied for loan personally , I have an LLC, what is the process for protecting myself and processing the purchase through the LLC?

@Radhames Tatis @Ruel Baliong,@Matt Borin@,Edward C.,@Steven Sager,@Kevin Schaefer

I can attest.  The set up of one by one around the table individual into>Q&A>open discussion is really nice.  I left feeling like I got to know everyone there, were their interest and experience lied and that I made contacts and friends.

@Johnathan Boyle

Thank you Johnathan I appreciate the advice 

@Kerry Boyle Thank you for the advice lol.  I sent you a PM, talk soon.

Thank you Nghi Le. Yes I an going to move froward on the HELOC just to have it in my pocket. I am also going to get pre approved from the bank for a second mortgage in case I want to make a conventional move. I have gotten similar advice from others and will look for a couple HML. You sold me on them being the "eyes of the deal" Good point! Thank you again for your knowledge.

Hello all.   I would love to be added to the list.  I work nights but i would do my very best to make as many as possible.

Thank you Johnathan. Hopefully he comes through but I am going to go ahead and get pre approved myself just in case I have to go conventional and fund the rehab. Do you recommend any HML? I have come across a couple through local REI meetups, but to be honest they make me uncomfortable because I feel like they are praying on newbies. not trying to help. It also seems like they don't even want to talk until you have a property under contract. Sorry about the hour, I work nights. Thank you again.

I realized typo in title Heloc not LIC