All Forum Posts by: Jeremy Hardy

I see what you are asking now. It would be more risky to do as a invest property. For the simple fact that you have to pay for both houses if you can afford to do so then no big deal.

You can go to equifax.com or experian .com and set up monitoring and get you fico score monthly updated..

629 is not subprime 620 or less is. Your credit history is just as important as your score. Your history becomes more important as you r scores becomes lower. As long as you dotn have any lates on your mortgage then it shouldn't be a problem especiall if the credit card is reporting current now. I do these types or loans for people everyday. should be no problem.
Where is your LTV (loan to value) at right now? I can give you more accurate info with the knowledge..

I see it everyday. there are plenty of people who are over 700 with a BK.
I am currently doing a loan for a individual who has a 680 score with a Bk and a forclosure on his credit report.
Iy you understand credit and how it works then you can rebuild your credit back up. You need to make all payments on time, and you also need to have at least one credit card with a balance on it, runinng at about 50% or less of the available credit line. pay it on time every month with more than the minimum due. and that will be a good start, this alone should allow you to jump 50 pt in 6 months to a year. Happens everyday to people everywhere who use this method.

This is exactly what I have come across. if you have just a LLC the your llc will fiel taxes then those taxes will be reflected on your personal taxes. You really need help of an attorney to do thsi for you properly.

You dont need your license, but on the other hand it wont hurt you either.
Although it is nice when I buy a property I get to keep the commision not someone else. Then I sell it using my company to list the proerty, there again I keep the commission. Plus I get to advertise on the MLS so all the other agents can see the proerty also. Just make sure you are compliant witht he state laws adn disclosures.

that would be a cash out refi, you would take at least a .5 pt hit on your rate for doing that. I think that is a vicious cycle, why not just put down what you need to put down to qualify, then use the rest of your capital to make upgrades/or purchase other RE

I agree with the above statement, in addition to what he said. The only differenc that is worth calculating in your thoughts between a rental and a lease purchase are usually the lease purchase tenenats are going to take better care of the property because they ahve interest in purchasing the property. From my Experience I have made more money on the lease purchase in the short term but made much more over the long term with rentals.
I would imagine that you would need alot of rent to cover your payment and taxes and insurance. May be difficult to find that person that can cover that. Chances are if they can cover that for you then they should be able to aquire financing on their own to purchase property now, while it is a buyers market..