Three Areas of Opportunity for the Bold [View article]
You need to put some more thought into your real estate deal.
Your rate on an investment property will be much higher than 6%, unless you buy it down with points.
If you take out a loan your lender will require that you have a hazard insurance policy. The cost of your policy will be significant, especially if the insurer gets wind that you plan to rent it as a "horse property". You need to build insurance costs into your monthly outflow.
Banks don't just drop their pants on short sales. If you offer them 20% less than their asking price you'd better have some quality time scheduled with the individual handling their portfolio, or the only sound you'll hear from them will be silence.
I could go on. You really need to do a few of these deals before you present yourself as an authority on Seeking Alpha.
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You need to put some more thought into your real estate deal.
Oct 30 00:41 am
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All Comments by ussmex »Three Areas of Opportunity for the Bold [View article]
Your rate on an investment property will be much higher than 6%, unless you buy it down with points.
If you take out a loan your lender will require that you have a hazard insurance policy. The cost of your policy will be significant, especially if the insurer gets wind that you plan to rent it as a "horse property". You need to build insurance costs into your monthly outflow.
Banks don't just drop their pants on short sales. If you offer them 20% less than their asking price you'd better have some quality time scheduled with the individual handling their portfolio, or the only sound you'll hear from them will be silence.
I could go on. You really need to do a few of these deals before you present yourself as an authority on Seeking Alpha.