All Forum Posts by: Tina McGlothin

https://cireia.club/

They actually have a meeting today in Indy if you wanted to check them out. It's free for the first meeting if you're a non-member and $20 after the 1st one for non-members. Looks like one on the 15th in Muncie. 

https://www.indianastatereia.o...

They are the overall REIA in Indiana so they really only put on the annual meeting.

Welcome to the game! 

This thread has been an amazing amount of help and knowledge. Thank you all who shared their experiences with Lending One, Lima, SIL, and MoFin. I'm in the market to cash out refi a duplex I own in Indiana under my LLC with the hopes to buy a lot more in 2022 so this thread was extremely helpful!

Hi Eric, 

Surprisingly no. I've been doing my own research and looked into the homestyle loan. I'm reaching out to a local bank that does them to get more info. I seen there are limitations on home value so I need to get more information. 

I see you are licensed in Indiana. Do you offer fix and flip and buy and hold loans? I'm going to be cash out refinancing my duplex that's located in IN by the end of the month so I'm looking for lenders. 

Thanks for the info!

Hello all! 

My husband and I recently purchased an outdated, too small, primary residence and we're needing to rehab. We financed 100% using a VA loan so a HELOC isn't an option. Finding lending for renos on a primary residence seems to be hard to find. Since it's our primary we can't use HML and most of the lenders we've spoken to will only do 70% of ARV for reno loans which gives us nothing since that's basically the purchase price. I own a rental duplex under an LLC in another state outright and I'm planning on refi to purchase more rentals. I paid 90k in May 2020 and current value is estimated at 150k. Current total rent is $1525. Would there be any reno loans available to use on a primary residence or would my duplex open up any non-collateral LOCs that we could use? I'd prefer not to use a HELOC on the rental if at all possible because I want the rental money to go back to rentals and not my personal home. I'm also in the need for a lender for a LLC owned rental in Indiana if you have any recommendations for them as well.

Thanks in advance for any ideas/tips!

I'd recommend checking with your accountant as some states make you pay interest if you receive the full year up front. Also, what happens if he doesn't have money to pay for the utilities or is a horrible tenant? If he pays for a year he stays for a year regardless of what he does to your property. I'd be very cautious if I were you!