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All Forum Posts by: Ty Burns

Ty Burns has started 7 posts and replied 131 times.

Post: Turning Primary Residence into a Rental

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

@Sharon C. I would check with a local credit union. Some of them will go up to 100% loan to value on a HELOC.

Post: Looking for next property in Utah

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

@Max Guerrero I've been investing in Utah for the past 7 years. Anything close to one of the universities or freeways will almost never have vacancies. I agree with @Eric Gardiner that Utah county is the place to buy right now. I can also help you with the financing when you are ready to buy. 

Post: Arrived in UT yesterday, Looking for SLC Rental Studio, HH, SFH

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

@Ray HollinsI can help you with the VA financing. New loan limit for Salt Lake County is $928,950 for Triplex and $768,500 for a duplex. I also own rentals myself and have done about a dozen flips and wholesales.

Post: Title Companies in Salt Lake and/or Provo?

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

@Jason Woodhouse Christina Carpenter at GT title. Very investor friendly. 

Post: Recomm for a CPA or Lawyer that offer Incorportation Service

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

@Nicole Kemanjian Check out Jeff Breglio. 

Post: To buy at retail price with VA loan or not.....?

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

I can help you out with your VA loan. What state are you in?

Post: Real estate license and wholesaling

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

Always disclose you are an agent. Make sure disclosure is within the contract

Post: Lender has to know it is my primary or investment property?

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

@Marc Dufour - That would definitely classify as mortgage fraud and could land you in very hot water. Plus the lender would most likely find out when they pull your credit and find another mortgage on your report. It would not be worth it.

Post: How is a Bird-Dogger Guaranteed to Get Paid Without Deal Under Contract?

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

@Lawrence Walker - There really is no guarantee that you will not get cut out of the deal. In my opinion, bird dogging is not a great way to learn unless you are working directly with a mentor who will let you in on the negotiations and how to put a deal together. I think you would be better off educating yourself and putting the property under contract yourself.

Post: How to choose a loan officer?

Ty BurnsPosted
  • Investor
  • Salt Lake City, UT
  • Posts 138
  • Votes 21

@Erik D. - They should be able to use your other income as well as long as you can show that it is steady. It all depends on the broker though. I would try and get an updated statement from your student loan companies to reflect the payment change and give it to your lender for proof. Hope everything works out. If you know anyone in need of a VA loan, I would appreciate the referral. We are nationwide.