All Forum Posts by: Altin Velaj

As i said most banks will go with fannie and freddie guidelines. fnma wont buy loans that are out off those guidelines therefore a bank most likely not to do the loan because they wont have any buyers on the secondary market(fnma) .
Fnma buys the loans so they can free money for the smaller banks to do business and lend more to people.
Fha mip is 1.75% for 5 yrs. There is ufmip(upfront mip )also 2.25% off the loan. government is running out off money thats why they raised the mip percentage.
My bank will ask you for 20% down minimum and 6 months reserve for every property.
more units the more the percentage required.

Tiger M. yoga . classes or ? how did you start with it

Joel Owens I agree. Taking care off your mind and body is as important as your business. I wanted to see how important was to the Bp community.

meditation and exercise ...how important is to your business.

Ryan Richard FIND a title company and they will structure it the way you want it. also that could be you next post. there is a lot off topics about that.
I have a brain freeze but owner finance might not even show on your credit report and that might be a plus. the good fellas off bigger pockets could correct if im wrong.

As far as getting around the 20% and getting advice from someone over the phone that,s where creating a relationship with a mortgage broker comes in place.
Once we know that you mean business and you wont waste anyones time we will give you ton off advice. sometimes free too :)

Ryan Richard if the owner does owner finance ....i dont understand what the problem is. there you go you can structure it the way you want it.If there is equity you can refi after with a conventional lender.

Daniel L. the lawer is correct about Memphis. individual up to 10 properties.

Ryan Richard . loan originators( including me )work on commission. A lot off times we get a person on the phone asking us all bunch off questions about their personal issues.
A lot off times they ask questions that we can not answer because off lending laws and sometimes we don't answer because off a person not being nice.
In my town i work with investors all the time.(some off them nice and some not) a lot off times i get asked questions that will get me in trouble with the law. unless you know the person very well he or she will just brush you off and wont give you an advice to help you with your situation.
Create a relationship with your mortgage broker. (they know the ins and outs off the lending industry ) you will always need money

Jerry Kisasonak and Will Sifert if it was not Than speaking , who was the speaker on the event. i might know them.