Financing and Credit

When dealing with a rental real estate is it the same process as typical homeowners refinance. I was reading a book on rental real estate and it basically said that when refinacing you wont be able to remove cash if theres any equity in it. My question is if thats the case how would i be able to go ahead and get a line of credit from that property to buy another property, i know that people usally buy one house and turn around and even buy two more from just that first one. I just would love for someone to clearify how this work and how would i be able to go about and do so thank you for your reply.

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It is possible to get money you need for your purchases without having good credit. Even if you have bankruptcy, leins, judgements, etc. So how do you do it? The answer is that you must seperate yourself from your personal credit. An LLC allows you to do this. It is a process that takes about 3-6 months but you can legally get perfect credit again with your business and get the capital you need to allow your business to grow. There are programs that can help you but I can show you how to do it yourself. Protect your personal assets and get more money if you remember one thing....LLC! If you have any questions, you can write me here and I will definitely help you get the financing you need!

I have a deal going with these figures.
I am financing $40,000.00 for a home.
The customer is paying closing and I get the rest.

My question is how much do you think the closing costs would be

I have checked in other forums and I can not find the answer

Thanks so Much

Bill

A master escrow account is a current account that must be opened to allow the use of individual escrow accounts. A master escrow account cannot be opened as a separate product; it is opened only for the purpose of managing individual escrow accounts....With that being said this is how it would work in a real-life real estate transaction.

If you are NOT a realtor, sometimes you can have a problem getting paid at the close of escrow.

You would use a master escrow account - it that instance to secure your fees. It is primarily there for lawyers, landlords, mortgage holders, etc to use to seperate the other smaller accounts and keep track of them all.

Definition of Venture Capital Terms:

Definition venture capitalist
venture capitalist: Venture Capitalist is a term used of an investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding.

Definition accredited investor
accredited investor: Accredited investor is a wealthy investor who meets certain SEC requirements for net worth and income as they relate to some restricted offerings. Accredited investors include institutional investors, company directors and executive officers, high net worth individuals, and certain other entities. Some limited partnerships and angel investor networks accept only accredited investors.

Definition acquisition

Looking for funding right away on a Single Family home that i have under contract;

Foreclosure under contract for $59K
Tax Assessed at $135K
Rehab Budget of $10K
Buyer that is pre-approved for $110K purchase price

This project is a 2 bed, 1 bath with full garage on a 1/2 acre of property.

I'm slated to close on the property next Friday the 12th of March and have just received news that funding is not coming through so I'd be willing to split the profits 50/50 for this deal. I would need to know by end of day Thursday or I will need to pull out of the contract and get earnest money back.

hi everybody!

I’m about to buy 2 condos in NY - both of them for investment but...
in order to be approved for the amount necessary - I need to LIVE in one of the apartment at least 6 month or 1 year, depend which broker you ask...
(the reason is because then as part of my expenses the bank will look of my rent payment, so it will reduce the amount I can take for the loan...)

my idea is, to really move to 1 of this apt. for some time and the other one rent (so I will not have my own rent to pay - so I can get more mortgage) and once i finish the period time necessary - so I can move and rent this apt. as well.

my questions -
1. somebody know how long really I need to LIVE in this apt?

I found this interesting aritcle and possible help for people that hve lost there jobs to be able to keep there home.

Under the proposal, loan servicers would reduce eligible borrowers' monthly payments to no more than 31% of their household income for up to nine months. Unlike a modification, however, the arrears would be tacked onto the end of the mortgage.

As part of the proposal, the association has asked the Treasury Department to provide loans to some servicers to cover payments to the mortgages' investors.

While many servicers already have forbearance programs, their resources are being strained by the rising ranks of the jobless. Also, some smaller servicers can't afford to implement forbearance programs, an association spokesman said.

Has anybody had any experience with a company called Equity Development Corporation? They claim to do 100% financing for purchase and rehab if you have at least a 680 credit score.