All Forum Posts by: Account Closed

If my business owns a multifamily dwelling, can I refinance into an FHA product by transferring Title into my personal name?

My desired end result is to:

1)move into the property as my primary residence

2) receive more advantageous financing through an FHA loan

Thanks!

If my business owns a multifamily dwelling , can I refinance into an FHA product by transferring Title into my personal name?

My desired end result is to:

1) move into the property as my primary residence

2) receive more advantageous financing through an FHA loan

@Ken Stoltzfus Pleasure to connect, do we know one another? I traveled to Doylestown, PA from Morristown, NJ today for business w/ my wife. I captured your post reading material on HELOC's, that was 6 yrs ago you must be extremely well versed now. Personally, I've been on a continuing pursuit of a financial education - are you open to discussing more about leveraging financial resources? Best, Stephen

@Justin Sherwood How has been your experience with using either product?

@Yonah Weiss Hey Yonah! Did the project take flight?

@Andrew Postell Pleasure to connect. That was good info! I purchased a 3 family in March. Looking to get refinanced in September. Two new Leases July 1st, and 3rd on Sept 1st. Long term tenants have agreed to a 3 year business plan in which rents are increasing 10 % - 3 consecutive years. Increasing overall rents by 33 %. Property value 575K - gross rents 55K. Do you have any product info to share? And, what are your margins above current prime rates?

@Brian Garlington I was going to suggest the same.

@Andres S Menendez What’s up brother? Congrats on your drive and thirst to join the Multifamily community. I just left Astoria September 1. My wife and I bought a multi family specifically a duplex about an eight minute walk to the train station about an hour outside the city. It’s an ideal way to begin your real estate portfolio. Consider buying a property that needs some love, renovation through a 203k home renovation product that allows you to build in the renovation cost into the loan. 7 months later, refinance the property through the same lender at a discount. Pull all the equity out of the property, then repeat if you like the process. I’m an investor first, I can also help you find off market properties the public can’t see.

Hello BP Family,

Can I implement a BP widget on my website build if I am a PRO member?

If so, what steps must be taken?

Any info, much appreciated. TY

@Yonah Weiss Hi Yonah, I’m still in need of a GC in Somerset County, do you have a connection? Thanks