 Can my landlord move in to the building I am renting from without telling me? |
| I am currently renting the first floor of a house, and another gentleman is renting the second floor. I have noticed recently that our landlord's vehicle (and her girlfriend's) have been ... |
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 Which mortgage companies will lend 5 times my wage or more? |
I'm in the uk
Additional Details
I'm already paying out the amount i would be repaying on a mortgage 5 times my salary, on an existing mortgage and loans. Equity in my current ... |
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| hi, just wondering (on behalf of someone else) if you have a house repo'd and when the mortgage company sell it on and fail to get enough to cover the debt, how many years is the previous owner ... |
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| Has anyone had any good or bad experiences renting through estate agents or private landlords as im thinking of renting privately but not too sure about it? ... |
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| Specifically, there's a clause in the lease that says "Any damages caused by tenants shall be repaired by a contractor or craftsperson selected by the owners". Is that legal in C... |
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 Anyone know the tips of how to get the house sold faster? |
I have 3 houses in my hand and would like it get it sold soonest.
Thanks in advance for every good advice of yours.... |
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 How am I supposed to do afford my rent? |
| I have a full time job with the government, a second job as a waitress, and I attend night school. Even with my two jobs I barely make over $1000 a month. I am single, and live alone. I live in the ... |
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 What would you do? |
| I just moved to an apartment and we had to pay $400.00 a month for our dog. $200 is a security deposit and $200 is a sanitation deposit. Puld I have to pay $20 extra a month for rent. I don't ... |
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 How much should i charge for rent? |
for an apartment with two rooms, one bathroom, one kitchen and a small yard, in Flagstaff Arizona
rooms and kitchen are about 110 square feet each, bathroom is about 40 square feet
<... |
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| Ok, we reluctantly bought grandmas house from her for her named price. It was on a high traffic main road, had apartment buildings on one side, and was outdated. Because Grandpa built it, we put a ... |
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 Can my landlord evict me if he has someone who wants to buy the property? |
| I am under a 1 year lease that expires in April 2008. I have to notify my landlord if I am going to buy the lease to purchase I am renting from him. I am not going to buy it. I will be cooperating ... |
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 I sued a tenant and won a judgment. I need to garnish their wages at work, how do I find out where they work? |
| I own several properties that I rent out. I evicted a tenant and I won a judgment for delinquent rent and property damage, about $3500. I filed a "garnishment of wages" at the courthouse to ... |
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 I'm renting a house: Is it my or my landlord's responsibility to maintain the lawn? |
THERE IS A MAINTENANCE AND REPAIR CLAUSE WHICH STATES:
"LESSEE WILL, AT LESSEE'S SOLE EXPENSE, KEEP AND MAINTAIN THE LEASED PREMISES AND APPURTENANCES IN GOOD AND SANITARY CONDITION AND... |
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 Stuck in horrible mortgage? |
| I bought a house in 2006. When I first purchased property (a house and just under 5 acres) I got a 1st and 2nd mortgage at Wells Fargo Bank 6% fixed on first and like 10.5 on second. My then ... |
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| i need help deciding on which is better for a family of 4? a house or a town house and which is cheaper? (bill wise)... |
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 My Ex-Landlord is being shady. Wont give back security Deposit.? |
Here is the situation:
I moved out of my apartment in New Jersey last month after being there 2 years. Before we left we cleaned the apartment thoroughly and rented a steam carpet cleaner and ... |
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 Does anybody know how much we would get offered for a mortgage on joint earnings of approx 37000. thanks? |
Additional Details
oh yeah sorry we are both 23 my partner is plumber and i work in jewellry shop not that that would make any difference. im only part time tho does that make a ... |
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Pale Face | How do you get into rental properties with no money down? |
I'm trying to get into real estate as a landlord in the Houston area. I have no down payment, but excellent credit. Thanks in advance for your help. |
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GoGo Girls
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With the market it makes it a bit easier. You need to find a property that is priced well below appraisal value. (these numbers are for example only and are probably not correct so don't complain about the math) So for example you find a property that is on the market 130,000, but it appraises at 150,000. You will write the offer of 150K and ask the seller to contribute to closing costs to the maximum 3-6%. The sellers will come back and ask you to pay the higher commission costs and taxes on the difference, but this will allow you to get in with no money down. Just because a mortgage company can do a 100% loan or even an 80/20, it does not mean the title company and the state will let you off scott free. There are ALWAYS closing costs. |
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Anthony S
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I know very few investor who use their own money to buy real estate. Whatever funds you have keep it as a reserve.
Understand, an investor buys houses at a 65 to 70% discount. This is always a hard thing to do. This is why many investors buy their properties from a real estate wholesaler.
A wholesaler knows it is a numbers game. Make a hundred offers a month and you will get about twenty counter offers, and out of them you will get about three within your price range.
Then you need to buy using a bridge loan from a private money or hard money lender. Bridge loans are short term loans with high interest rate and points that must be refinanced quickly with your more investor property loan that you get from a bank.
You can find these kinds of lenders and more information at your local REIA, real estate investor association.
Do an online search for a Houston REIA. |
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Real Estate Guy
 |
First, with investment loans you need 20% or more down.
However, look long and hard at getting involved in this!!!
Even if you could find 100% financing, your rental income will NOT cover the loan. This mean that you would be covering the difference between your rent coming in and your mortgage payment.
For example. Lets say that your rental income is $1,000 a month. However, your mortgage payment is $1,500 a month. You would need to come with an additional $500 a month just to break even.
A rule of thumb is this: your total monthy expenses on a rental, including the mortgage, taxes, insurance shouldn't be more the 50% of the total rent coming in. If you can get $1,200 a month rent, your total mortgage (PITI) shouldn't be more then $600 a month.
You will look at this an assume that the other 50% ($600/mn) is profit. WRONG. This will cover upkeep, renting expenses and other costs. |
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deejayspop
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you need to find a desperate seller who will either reduce his asking price or inflate it so that if he is actually selling for say 100K but writes a proposal for 120K then all you have to do is ask for the 100K because it looks like you gave 20K down. Or, if the seller agrees to take a second position and will accept a promissory note for the down pay then you are gold |
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holeeycow
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start saving your money. |
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bostonianinmo
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For investment properties that's pretty much impossible. You generally need at least 25% down for commercial paper.
You MIGHT have some luck with bank REOs. Contact local banks and see if they are interested in clearing any of their REOs in exchange for 100% financing. If you have a decent business plan and strong credit they might be interested. It can't hurt to ask. Bear in mind that with many of these you'll need funds to repair them and put them in habitable condition so keep that in mind as well. |
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healthspot_2000
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being a loan officer for a mortgage broker, those are pretty hard to come by anymore. They think that because it is an investment you should put your own money in it. The max LTV recently I have seen is 90%, where you would have to put 10% down OR potentially put 5% down and let the seller hold the second mortgage. |
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Amanda J
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You can't; you have to have money to put down. |
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luv2seashore1
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You have to invest money to make money. Rental properties are lucrative after you purchase the building and get tenants, but you will have to see if you get get a large loan. Talk to your bank or credit union and check your state laws. |
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darthcrank
 |
The requirements for loans on income properties are tougher than if you were buying a home for yourself, so you likely won't find a "no money down" way to do that.
However, if you buy a duplex for yourself and rent out the other side, you might be able to find a lender that can swing something pretty favorable for you.
I recently went in on an older duplex with some friends and we rent out a couple rooms and got a no-money-down loan, you just have to show that you intend to occupy the property yourself. |
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