All Forum Posts by: Neil Aggarwal

We are not talking about your rates and your credit.  We are talking about her getting a new loan.  It is irrelevant what you are able to get unless you are the one taking the loan.

If she has really bad credit, 6% interest rate is probably low.

You never *need* an entity.  You can always do everything in your personal name. Many people use entities to add a layer of shielding from potential legal and credit problems.

There can be only one first lien.  If the seller does owner financing, they will have first lien.  All other liens will be secondary.

I am not 100% sure what you are asking, but a lender will wire their funds directly to the title company.

If you are in acquisition mode, leveraging to get another property sounds good.

It sounds like the guru was selling info on how to manipulate credit cards. If so, the OP may not have clean hands.

There should already be plenty of private lenders in your area. Its a harder road to introduce someone new to lending than to use an existing one.

If tax assessor does not know, I doubt you will figure it out. Move on to the next property.

Its admirable that you are starting out at your age and looking at investments. Most young people I know are not focused.

Without credit, you are going to have a hard time qualifying for a loan. You might be able to do it with your brother cosigning. Ask the banks in your area if that would work.

If not, you might have to look for private money sources in your area.