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All Forum Posts by: Matt Sturm

Matt Sturm has started 3 posts and replied 7 times.

Post: Anyone interested in an Oakland/East Bay meet up?

Matt SturmPosted
  • Lender
  • Oakland, CA
  • Posts 7
  • Votes 0

Hi Brian, 

I'm in Oakland and would meet up for a drink to talk shop. Let me know if you want to make it happen!

Post: Made an offer on a bank owned propoerty

Matt SturmPosted
  • Lender
  • Oakland, CA
  • Posts 7
  • Votes 0
Quote from @Bob Reinhard:
1-  That is the bank's counter ... and now, yours to theirs.
2-  "The deal still works at their counter, but I don't want to pay more thank I have to." This is 'ends justify the means' thinking. You do should not pay more than your analysis supports; if you 'have to pay more', then your numbers seem to tell your you should stop at this point.

Much success.

Bob



 Thanks Bob!

Post: Made an offer on a bank owned propoerty

Matt SturmPosted
  • Lender
  • Oakland, CA
  • Posts 7
  • Votes 0

Thanks William- appreciate the advice!

Post: Made an offer on a bank owned propoerty

Matt SturmPosted
  • Lender
  • Oakland, CA
  • Posts 7
  • Votes 0

Hi-  I've made an offer on a bank owned property.  I was then asked to give my highest, best offer.  I provided that (only 20k away from their asking price)  I just received a notice that they countered at 1k less than their asking price.  Is this common on bank owned deals?

The deal still works at their counter, but I don't want to pay more thank I have to.  

Post: How to access cash using existing equity

Matt SturmPosted
  • Lender
  • Oakland, CA
  • Posts 7
  • Votes 0

@Dillon Dale- Thanks for responding.  I may end up selling as well.  Trying to avoid it, but it may be my only option.

Post: How can I access cash using existing equity

Matt SturmPosted
  • Lender
  • Oakland, CA
  • Posts 7
  • Votes 0

I have a SF rental property in Wilmington, NC. I am trying to do a cash out refi but am not having any luck. My issues are 1. My credit score is sub 700. 2. I am self employed. (Don't have W2 income)  I have talked to multiple lenders and keep striking out.  

The house is theoretically worth $225k.  My remaining mortgage is $90k.  How can I access some of this equity

Thanks for your suggestions!

Post: How to access cash using existing equity

Matt SturmPosted
  • Lender
  • Oakland, CA
  • Posts 7
  • Votes 0

I have a SF rental property in Wilmington, NC. I am trying to do a cash out refi but am not having any luck. My issues are 1. My credit score is sub 700. 2. I am self employed. (Don't have W2 income)  I have talked to multiple lenders and keep striking out.  

The house is theoretically worth $225k.  My remaining mortgage is $90k.  How can I access some of this equity

Thanks for your suggestions!