Comments for Buyer's Edge Inspections http://www.buyersedgeinspections.com Sat, 12 May 2012 16:24:32 +0000 hourly 1 Comment on Are mortgage rates usually higher on investment properties? by thelucidmonkey http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6629 thelucidmonkey Sat, 12 May 2012 16:24:32 +0000 http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6629 Normally yes. Try checking with a few different lenders for assorted loan package options. If you are getting stuck on this question you should really brush up on investment property knowledge with some book reading, classes, seminars, etc. If this is in your personal name and not under a protective company you have formed, you stand to lose a lot of money, or put a foreclosure on your record very easily. Normally yes. Try checking with a few different lenders for assorted loan package options. If you are getting stuck on this question you should really brush up on investment property knowledge with some book reading, classes, seminars, etc. If this is in your personal name and not under a protective company you have formed, you stand to lose a lot of money, or put a foreclosure on your record very easily.

]]> Comment on Are mortgage rates usually higher on investment properties? by Dr. Deth http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6628 Dr. Deth Sat, 12 May 2012 15:36:13 +0000 http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6628 yes, they will be higher on an investment property AND will require a much higher downpayment (maybe20%) compared to buying a primary residence. Talk to a real estate agent or mortgage broker to get exact details yes, they will be higher on an investment property AND will require a much higher downpayment (maybe20%) compared to buying a primary residence. Talk to a real estate agent or mortgage broker to get exact details

]]> Comment on Are mortgage rates usually higher on investment properties? by Home Selling Pro http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6627 Home Selling Pro Sat, 12 May 2012 15:10:21 +0000 http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6627 Generally speaking, rates on investment properties are slightly higher. The reason being is that the lenders have a higher perceived risk. They assume that if finances got tight and you had to choose between making a payment on an investment property vs. your personal residence, you would choose your personal residence. Most lenders give you the option of "buying down the rate". This means for a fee you can decrease the interest rate. The costs for this varies but I've found that 1 point (1% of the purchase price) for each 1/4%. Check with your lender or mortgage broker though. I will encourage you to have at least 2 mortgage brokers compete for your loan. The mortgage business can be very rutheless and having 2 people compete for you will ensure you get a better deal. Best of Luck, Luke Hoppel info@supercheappropertywebsites.com Generally speaking, rates on investment properties are slightly higher.
The reason being is that the lenders have a higher perceived risk. They assume that if finances got tight and you had to choose between making a payment on an investment property vs. your personal residence, you would choose your personal residence.

Most lenders give you the option of “buying down the rate”. This means for a fee you can decrease the interest rate. The costs for this varies but I’ve found that 1 point (1% of the purchase price) for each 1/4%. Check with your lender or mortgage broker though.

I will encourage you to have at least 2 mortgage brokers compete for your loan. The mortgage business can be very rutheless and having 2 people compete for you will ensure you get a better deal.

Best of Luck,
Luke Hoppel
info@supercheappropertywebsites.com

]]> Comment on Are mortgage rates usually higher on investment properties? by frankie b http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6626 frankie b Sat, 12 May 2012 14:48:50 +0000 http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6626 7.5 on an investment property sounds good to me. 7.5 on an investment property sounds good to me.

]]> Comment on Are mortgage rates usually higher on investment properties? by godged http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6625 godged Sat, 12 May 2012 14:13:02 +0000 http://www.buyersedgeinspections.com/are-mortgage-rates-usually-higher-on-investment-properties/#comment-6625 Yes it is. Commercial loans can be even higher. 7.5% doesn't sound too high, good luck on your venture. Yes it is. Commercial loans can be even higher.

7.5% doesn’t sound too high, good luck on your venture.

]]> Comment on I have 2 investment properties in Euclid, Ohio.How do I determine the basis and depreciation for tax purposes. by tma http://www.buyersedgeinspections.com/i-have-2-investment-properties-in-euclid-ohio-how-do-i-determine-the-basis-and-depreciation-for-tax-purposes/#comment-6624 tma Wed, 09 May 2012 12:08:41 +0000 http://www.buyersedgeinspections.com/i-have-2-investment-properties-in-euclid-ohio-how-do-i-determine-the-basis-and-depreciation-for-tax-purposes/#comment-6624 You would only claim depreciation if these are rental properties, not if you are buying and selling the houses. You would only claim depreciation if these are rental properties, not if you are buying and selling the houses.

]]> Comment on When buying land what fees should we watch out for that are not necessary to pay at closing or when financing. by David D http://www.buyersedgeinspections.com/when-buying-land-what-fees-should-we-watch-out-for-that-are-not-necessary-to-pay-at-closing-or-when-financing/#comment-6623 David D Thu, 03 May 2012 08:21:22 +0000 http://www.buyersedgeinspections.com/when-buying-land-what-fees-should-we-watch-out-for-that-are-not-necessary-to-pay-at-closing-or-when-financing/#comment-6623 I found lots of good information here. I found lots of good information here.

]]> Comment on where is the best city to get investment properties? by Terry http://www.buyersedgeinspections.com/where-is-the-best-city-to-get-investment-properties/#comment-6622 Terry Mon, 30 Apr 2012 07:57:04 +0000 http://www.buyersedgeinspections.com/where-is-the-best-city-to-get-investment-properties/#comment-6622 This is the best time to get a bargain property...I am interested in those area of investment and I have come across to this website recently www.investorpalace.com i think they might have someone able to help you as I have few questions been answered by that site. This is the best time to get a bargain property…I am interested in those area of investment and I have come across to this website recently http://www.investorpalace.com i think they might have someone able to help you as I have few questions been answered by that site.

]]> Comment on where is the best city to get investment properties? by Ken M http://www.buyersedgeinspections.com/where-is-the-best-city-to-get-investment-properties/#comment-6621 Ken M Mon, 30 Apr 2012 07:14:33 +0000 http://www.buyersedgeinspections.com/where-is-the-best-city-to-get-investment-properties/#comment-6621 Ed monton Alberta Canada Ed monton Alberta Canada

]]> Comment on where is the best city to get investment properties? by loanmasterone http://www.buyersedgeinspections.com/where-is-the-best-city-to-get-investment-properties/#comment-6620 loanmasterone Mon, 30 Apr 2012 06:59:06 +0000 http://www.buyersedgeinspections.com/where-is-the-best-city-to-get-investment-properties/#comment-6620 The best place to find investment properties are the ones nearest you. There are always good investments in your own backyard. Unless you are a rich investor then your best bet are those that are near you. You might go by and see them when there is a problem with your investment. You know the local customs about buying and selling in your area. You would get more referrals from local individuals You establish yourself as the local real estate investor among the local professional real estate people such as real estate agents, insurance agents, escrow and title officers. Your management problems are less if all your properties are located locally. You would only have to deal with one management company and could possibly get a discount as you add more units and property for them to manage. I hope this has been of some benefit to you good luck. "FIGHT ON" The best place to find investment properties are the ones nearest you. There are always good investments in your own backyard. Unless you are a rich investor then your best bet are those that are near you.

You might go by and see them when there is a problem with your investment. You know the local customs about buying and selling in your area.

You would get more referrals from local individuals

You establish yourself as the local real estate investor among the local professional real estate people such as real estate agents, insurance agents, escrow and title officers.

Your management problems are less if all your properties are located locally. You would only have to deal with one management company and could possibly get a discount as you add more units and property for them to manage.

I hope this has been of some benefit to you good luck.

“FIGHT ON”

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