Know it's been a few months, so I thought I would share an update. We are still at 6 units, but we are hopefully about to pick up 2 more here by 8/1. We're going to have to do a bridge loan for 30 days or so, as the banks will only loan up to 75% of the value or purchase price, whichever is less, when doing a portfolio loan. Since we're going to be purchasing these two well below market, we'll have to wait a bit before including them on the portfolio loan with the 3 other units that we have yet to refi as well.
Thought we were going to close on our first 3/2 recently, but the guy ghosted us. We were going to assume his loan, but his ex-wife was listed on the mortgage, and we suspect he couldn't get her to sign off on it.
Thought we were going to close on our first 3/2 recently, but the guy ghosted us. We were going to assume his loan, but his ex-wife was listed on the mortgage, and we suspect he couldn't get her to sign off on it.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today