All Forum Posts by: Darryl Dahlen

I broke down and got a new Keurig Platinum edition coffee maker....off of QVC no less. It was just too good of a deal to pass up.

I would have also bought one of those 42" 1080p TVs Best Buy was selling for $200 if you could buy them online, but I wasn't about to camp out in front of the store all day long just to ensure I could get one.

If the properties can debt service a million dollar loan at 12% then the savings at 6% should allow you to build up sufficient reserves where you can weather any bumps in the road thus mitigating the risks that come with a recourse loan.

Good grief, that's quite the spread there in rates. Also, what do you call a large loan?

Personally, I don't think a loan at 12% is worth the perk of being non-recourse if you could obtain a loan at 6% by giving a personal guarantee.

On a large loan the savings could be substantial and if the properties can easily cover the debt as you say why would you pay more than you have to?

Yes, a big thank you to all fellow veterans!

I'd say look out for any lender who will offer to lend you money at the terms you're looking for.

On straight purchase deals, most hard money lenders cap out at 65% these days. Unfortunately, there are no shortage of scammers who use the ploy of stating they can lend on high LTV deals to suck in desperate borrowers.

Don't believe the hype.

Hi Joshua. I'm located very close to you in Southern Maine right beside Portsmouth, NH).

Always good to have another New Englander join the BP nation!

I thought I read somewhere that BoA was looking to layoff 40,000 people. I would imagine a lot of those will be in the service/loan departments.

I can't imagine they'd get of of mortgages completely though. They are too big and make too much money from them to do that.

They have, however, been cleaning up a huge mess that they inherited from taking over Countrywide. No doubt a lot of people were employed to sort that out along with having to keep on a lot of staff from CW that can be laid off once that is all straightened out.

I've also heard rumors that they might get out of correspondent lending, but I don't think anything concrete has happened there.

It really wouldn't matter to me. While I have nothing to hide, I simply don't like having a photo of myself on forums or anywhere for that matter.

This is just a personal preference of mine and is something that I hope the content of my posts would offset, but I also understand that some like to see who they are talking to or reading about.

At the end of the day, I'd post a real photo if required to do so, but it's a rule that can't be verified since a poster can simply post a photo of Joe Blow they find on the net so why not leave people to decide for themselves?

While the principle is similar, the existing program (EB-5) is for commercial real estate only and is tied to job creation.

This new legislation does not appear to have any job creation stipulations to it as it is geared to improving the residential real estate sales market.

Personally, I think it's a great idea. Especially, since an investor has the option to buy investment properties as well. If they were to buy a personal residence for $250k, that leaves another $250k to purchase investment properties.

This means one foreign investor could potentially take 2, 3, 4, or more properties off the market. It would seem if this bill passes that it would be worth marketing to these potential customers. Would it not?

Two Senators have proposed a bill where foreigners can buy a Visa if they buy $500k worth of real estate.

One significant detail to this proposal is that the individual can break up the $500k. They only need to buy a primary residence for $250k or more, but can use the remaining amount to buy investment property.

Another upside is that all the transactions would require cash. No mortgages allowed.

If this bill becomes law it would seem it would have a positive impact on the real estate market, and for some of you here.

Here's a link to an article:

http://economictimes.indiatimes.com/news/nri/visa-and-immigration/us-homeowner-visa-invest-500000-in-property-and-stay-in-america/articleshow/10443154.cms

Any thoughts on this?