All Forum Posts by: Jill Dunican
Jill Dunican has started 0 posts and replied 3 times.
Post: Skip trace + DNC Scrubbing
- Phoenix, AZ
- Posts 3
- Votes 5
Hello BP. We recently found the DNC project (https://www.thedncproject.org) that will DNC scrub up to 5k numbers for $35, so pretty cheap. Initially we registered with the FTC to get the DNC lists for the area codes we work in, but found that the CSV files were huge (over 1 million rows for just one of the area codes), far exceeding what you can do in Excel. So the next step was to find a scrubber that we can just upload our skip traced numbers to and get results back. With the Y/N results, we simply created a new tab in our prospect lists in excel and used a VLOOKUP formula to insert the Y/N in a new column next to each number. I'd prefer a option for skip trace with a DNC scrubbing already completed, but the extra 10 minutes of file prepping is not too bad.
Rich & Jill
Does anyone have experience trying to cashout refinance a BRRRR property in under 6 months, when there is a hard money lien against the property? Our first real investment property (not previous homes converted to rentals) was on track for the perfect BRRRR that would have under 4k of our money in it, and cashflows a little over 400 per month. However, with rehab complete, renters moving in at the end of the week, we hear back from our mortgage broker that the Fannie Mae guidelines require the house to be held for 6 months if there is a lien on the property (e.g. our hard money loan). So now we are looking at having to wait another 4 months to cash out and redeploy our funds into our next investment.
Is this the experience that everyone else is having when doing a BRRRR using hard money? I've not heard about this roadblock from Brandon and David, but perhaps I missed this small but crucial detail.
Is there any way to get around this Fannie Mae guideline?
Jill and Rich
Does anyone have experience trying to cashout refinance a BRRRR property in under 6 months, when there is a hard money lien against the property? Our first real investment property (not previous homes converted to rentals) was on track for the perfect BRRRR that would have under 4k of our money in it, and cashflows a little over 400 per month. However, with rehab complete, renters moving in at the end of the week, we hear back from our mortgage broker that the Fannie Mae guidelines require the house to be held for 6 months if there is a lien on the property (e.g. our hard money loan). So now we are looking at having to wait another 4 months to cash out and redeploy our funds into our next investment.
Is this the experience that everyone else is having when doing a BRRRR using hard money? I've not heard about this roadblock from Brandon and David, but perhaps I missed this small but crucial detail.
Is there any way to get around this Fannie Mae guideline?
Jill and Rich