Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Sponsored Links
Sponsored Links
(Views)Popular Topics
No new orders today 13263550
Stupid MLS comments. 3547462
What do you know about Froy Candelario, top agent in USA 1347497
Stupid QC comments and BPO requirements. 1191610
New HUD Listing Brokers---Any Update? 1131514
Is there religious content in Buffini class? 915219
Let's talk about our cars 769046
Most common items found at an REO 694732
Pay it Forward - BPO/REO Tips & Tricks I & II 680514
Name that Flick. Great movie Lines. 670266
Main Street 504846
EML 459242
asset val seminar in colorado 457449
assist 2 sell or 1 percent realty? 392537
HOMONYMS - There, Their, and They're 370713
Evalonline 300215
Land America 285057
Mainstreet 261863
Topic Options
Rate This Topic
#411188 - 08/12/12 05:16 PM Second mortgage
Introyble Offline
Junior Member

Registered: 08/02/12
Posts: 3
Loc: Oklahoma
Posted this same question in different section of forums. Hoping for a good answer.

I had a number of options with my first home loan (FHA). I elected to remain with an investment approach.

Basically I bought a multiplex that offered a 6% ROI and occupancy. Seemed to good to pass. In addition, the rental income matches nearly 90% of my total obligation.

Once I vacate I will have no less than 12% ROI annually. Initially, I am using 100% of the rental income in addition to monthly to pay down debt and quickly gain equity.

My question. Soon I will shift and build liquid cash from the rental as to acquire significant second purchase capital.

How many months into the loan will it be realistic to approach my lender for a second mortgage? 12 months seems unrealistic as the loan will be viewed as to new. I don't want to wait 3 to 4 years if not necessary.

At this point the multiplex will be producing 12% ROI. Credit is prime and personal income is good. Somebody please give me an honest assessment.

Thank You!!!!!!

#411202 - 08/13/12 11:15 AM Re: Second mortgage [Re: Introyble]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2421
Loc: Outer Banks
To get the only answer that will mean anything, you have to talk to some local lenders. By local I mean regional banks who specialize in making home town loans. Anything you hear from non lenders will just be speculation.
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.


Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.

Newest Members
Malvin, Promptbpo, GoomesNYC, Christa Elrod, JTS808
31136 Registered Users
Who's Online
0 registered (), 24 Guests and 4 Spiders online.
Key: Admin, Global Mod, Mod
Matched Content
Top Posters (30 Days)
CathCoy 16
Lucky Leonardo 14
Trouble 12
Z06Fanatic 11
AnonymousWriter 3
HChomat 3
Bigtoe 3
TonywithAM 3
MartinH 2
CountryBoyNC 2
KristinawithAM 2
sualk54 2
HilarywithAM 2
Frana 2
MountainBPO 2

How To Advertise Here

This site presented by RNC Internet Services