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From what I read the agent is asking you to provide proof of how you are payday loans online direct lenders no credit check going to purchase a property, correct? If you are looking to go conventional then like mentioned above you would need a pre-approval letter, if you are looking for private financing than you would need proof of the money that they are lending you, if you have the cash yourself to pay for the property than you could show a bank statement. How do you intend to purchase the investment property? Have you looked into getting pre-approved for a mortgage? If using a private lender than it is a good idea to find one before you start looking. Those typically do require proof you have the money to close.
I am not sure what to do in order to see several properties with the same agent.. If that is the case you should be able to get it from them. If that is not the case can you be a little more clear about what you are trying to do? How do i get one and doing anyone know any website that may be the right one to get the letter. Have you tried simply letting the agent know your intentions? Tell them you just direct lender payday loans for bad credit wan to get a closer look at the property, take a few pics and make your assessment.
Eric - as others in the thread above posted, your best POF letter is your bank statement with your name on it, showing funds to purchase the property. Otherwise a pre-approval letter from a lender is the next best. There are free proof of funds letters you can find on payday loans online direct lenders no credit check the web. Sellers will generally know those are worth as much as you pay for them and throw your offer in the trash along with that bogus proof of funds letter. No agent that what are the current interest rates for small loans you do not already have a great relationship with AND who understands the nature of REI and flipping (RARE) is going to send your offer to the owner without payday loans online direct lenders no credit check a POF letter.
Go ahead and pick any house off of Redfin which has a "start an offer" option. You will get a message back from the agent saying they need a POF letter before submitting the offer to the owner. You can use any real estate site but redfin is faster. The investor looks at property , makes an offer contingent upon approval and inspection. Maybe the investor just got burned on a house with a faulty foundation and does not want to mess with any house with foundation problems.
When the youngest salesperson came over and asked if he could help and I said "Write it up, Ill be paying cash today and want it detailed and lake ready by 4" I thought he would faint. We payday loans online direct lenders no credit check walked in his office and I pulled off 14 one hundred dollar bills and told him I would be back at 4 and not to make me wait.
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There is a great local lender I work with that has told me payday loan right now he is writing a lot of FHA loans lately. Are you referring to conventional lending or hard money lender? Are you looking for someone that specializes in working long term personal loans with investors and invests themselves? Are you referring to conventional lending or hard money lender? Are you looking for someone that specializes in working with investors and invests themselves? I am refinancing a property that when I originally purchased it, I was told it was a multi-family, so I had to pay a slightly higher interest rate. Now in the middle of the refinance, the mortgage companies appraiser says it is a single family with an ADU.
A similar house in town recently sold and was listed as a "legal non-conforming multi-family". My question is, where on my deed would it say if this is a single family or a multi-family? I have been refinancing my property and signed the escrow closing package 8 days ago but have been notified by my previous lender that the loan has not been paid off yet. I know my loan has been funded by the new lender but am wondering who has been responsible to pay off the loan?
I would recommend, NICELY, reaching out the the escrow officer and letting them know. I have never seen one not be funded the day of recording or the day of the refi being complete. Always good to just have a conversation and see what may have happened.
In general the House Hack approach and BRRRR approaches are quite different beasts. For my personal clients here in Oklahoma City I recommend thinking of them quite differently by and large. A house hack uses a loan product that allows a buyer to bring little money to closing BECAUSE the buyer is going to live there. A BRRRRR deal leaves little money in the deal because the difference in purchase price and the after repair value is so substantial. You can take a hybrid or very nuanced approach, but in a nutshell these are the foundations of the approaches. It is ALWAYS advisable to add value to a property, but to House Hack a property that DEPENDS on adding value for the deal to work usually ends up with more money in a property that it is worth. OR it ends up being the most stressful way to do a BRRRR -- having to live in it! For my taste I want my house-hacks to be house-hacks and my BRRRRRs to be BRRRRRs and I NEVER want to HAVE payday loans online direct lenders no credit check to live in a 4-plex while I fixit up with Hard Money so that when I refinance it off of my FHA 3. HUD has 2 main databases where you can search for and find the most experienced FHA 203k Lenders, which would most likely offer the Homestyle too. What would you recommend I should include that could make it easy for a lender and help me make my best impression? Also, would including a printed credit karma report help in any way? What would you recommend personal signature loans I should include that could make it easy for a lender and help me make my best impression?