All Forum Posts by: Paul Defngin

Sekelle O. are you looking for conventional financing, hard money financing, commercial, etc? What type of investment are you looking to do? Fix and flip or buy and hold? That will help get you pointed in the right direction.

Teresa Hunt if you're at retirement age and the Edward Jones account (s) are retirement account, you can setup a monthly distribution to help you qualify. It definitely depends on the value of the account you have and that you are at retirement age. Not sure if you fall in this category or not but maybe an option. Good luck.

Steven Wade if I may make a suggestion. Even if you were successful in getting that HELOC setup on the investment property, the rate it will most likely be Prime plus a margin. Most of those margins start at 1.00% or more-and with Prime being at 4.00%, well, your blended rate will be higher. Since you have a plan to put that equity to work, why not just refinance the current mortgage. If you have good credit you may be able to get a 30 year conventional loan in the mid to high 4's.

@Rocky V. was there any attorney or title company involved with the transaction from when you purchased those 2 properties?  If so, maybe check with them and see if they kept copies. Not sure but just a thought. Good luck.  

Hi everyone. I'm not sure if this is the appropriate place to post this, but if not, please pardon me. I have great client who is a Veteran. He owns his own home (VA mortgage), and just recently picked up fixer upper property. He is looking for fix and flip financing, which I do not offer.

Property is under contract for $101,000. Estimated renovations is $60,000. According to his realtor ARV is $245,000.

Client's first time buying investment property with intent of fix and flip. Credit score is in the low 800. Some assets. Good income and stable government job. 

Would love to make the introduction. Thank you. 

Michael Zack congratulations. Getting a lease is pretty easy. You can get a template online or ask your realtor-if you used one to provide you one. That said, I do recommend knowing about tenant and landlord rules and regulations in your County. Most County, now a days have helpful info online. Hope that helps.

Josh Fernandez if you are looking at comps for residential properties; I would recommend a) have a relationship whoa realtor that has access to the MLS or b) try this https://realestatecenter.bankofamerica.com/tools/marketvalue4.aspx Zillow is not really that accurate because it's based on aggregate sales.

James L. I'm confused. Did all the properties that sold cash support your $350,00? Why wouldn't the appraiser use those comps if they support your value? Is it because they were cash?? All sales are a matter of public record, at least in our County so shouldn't the appraiser be able to use them?

Contact John Moir at American Home Care LLC. He is honest and does a great job. He's replaced the roof for my rental property-no marked up compare to other estimates I received. He's also replaced skylights on my primary. Let him know I sent you. He will take great care of you. Pm me if you want his phone number and email.

Aksel A. -and just why would you want to do something like that? You either qualify or not qualify. Be upfront with your lender and they will help you succeed. As Chris Mason and Upen Patel mentioned-fraud is a big problem and the consequence of fraud effects everyone-not just you and the two lenders.