Make a post to introduce yourselves, and look around the community to familiarize yourself! Be sure you go to the classroom and checkout our "resources & discounts!" section to see all of the free resources, discounts, free trials, and partnerships we have to make your journey easier--and save you money along the way!
What's the ONE piece of financial advice you wish someone had forced you to learn when you were 20? I'll go first: 👉 Mine would be: "Income solves today's problems. Assets solve tomorrow's." I spent way too long focusing on making more money instead of keeping it and putting it to work. Now I'm curious... If you could go back and have a 10-minute conversation with your younger self, what financial lesson would you hammer home? Drop it below. 👇 Someone in this community is probably making that exact mistake right now, and your comment could save them years of frustration.
@Devin Fair I think the financing is less important than how you buy the vehicle, personally. (used, already at least 40% depreciated, reliable, within budget, efficient, etc.) ...but yes, financing a depreciating "asset" is no bueno for your finances.
If you have a deal that uses provider money to renovate purchase price of house is $100,000 Renovation is $75,000 Estimated after repair value is $270,000. Are you typically responsible for a 20% downpayment or does the equity cover the down payment. I know when we built our house we had already paid for the land and then it appreciated by the time we built we had $90,000 in equity so we did not have to put a down payment when we rolled the construction loan into a mortgage. I know that is for my primary residence so I was not sure how lenders treat equity on investment deals.
Depends on the lender. When working with private money, you are able to negotiate whatever terms the two of you feel good about, as there is no bank involved, and thus minimal federal regulations that must be adhered to. If you're going through a bank, they will have specific amounts (every bank is different), but with private money, it is not uncommon to get the entire deal funded if the right terms are in place to ensure it is worth the lenders time.
Can I get a helix through a VA loan? I have my primary residence in a mortgage not with a VA loan. I have roughly $150,000 in equity. I know of a local lender that does Helocs but did not. Know if there is a VA loan product for Helocs?
No, the VA does not have a specific HELOC product. Usually, going through the lender you worked with on the first loan (or a local lender) pans out alright for HELOC's
28 yr veteran looking to improve financial stability and investments portfolio. Interested in gaining knowledge in the real-estate opportunities and develop financial freedom.