All Forum Posts by: Roxanne Lembke

Hello BP friends! How might a mortgage be structured if I qualify for the mortgage but I have family who would like to partner on the transaction by contributing the downpayment (20-25%) Can you go conventional on an investor property with this situation? Or does that only work with cash?

Hi Aaron,

In regards to your broker recommendation, I have sold several homes in the Davis area, specifically the El Macero and Lake Alhambra Estates. What neighborhood is your rental in? That will definitely influence what type of upgrades you will want to do. Feel free to PM me as well.

Ok, so the company/brokerage I work for has been in business that long, but as a Realtor I have only been in the business 1 year. It sounds like I would still need 2 year of tax returns?

Hi everyone, 

I am an agent and would like to buy my first home, (the irony, I know) I've done quite well my first year in the business, however I want to know if it is possible to qualify after only 1 year of tax returns? Again I'm commission only, but I recently heard that FreddieMac/AnnieMac changed their lending guidelines for self-employed and that 1 year could also be sufficient. 

If this is true, any reccomendations lenders? 

Please advise!

@Account Closed thank you so much!! You rock! Received your attachment

Thank you gentlemen. That is very helpful!

Hello friends! I am having trouble locating how or where I can find proper documentation to use in a Master Lease Option that I am going to purpose. I am used to dealing primarily with residential buyers and sellers, rather than the investment side. 

Hi BP friends!

Here's the breakdown. Seller wants to move down South. Properties are located in Northern California. Two 4-plex sold separately for $215K a piece but would like to sell together if possible, total of $430K. 

I spoke with the listing broker and asked if he would ask his client if they would be open to a lease option. He wanted to know what upfront money I would put down. I was vague and said I am open to see what the sellers are looking for. However, I have very little to no money to put down. My hope is to do a MLO for 2-3 years and then refinance and purchase the property. 

Any recommendations on how to negotiate this? 

@Jacqueline Cliff Great! Do you have investment properties in Washington at present?

Vincent Ballew gotcha! I have family in Lafayette so good to hear!