D
Deleted72335
Guest
I am currently under contract on my first rental house and the ROI on this will be roughly 25% so I am excited to say the least. The only problem I'm facing is my lender will not allow the seller to contribute more than 2% towards close and this includes seller repairs.
The seller is giving me 2% towards close but there is another 10% towards repairs that we are looking to have done. My lender is saying I should work with my agent to have the repairs covered outside of close but I'm nervous about having to potentially play collections to get the money from them after we close on the house. Does anyone have experience with this?
The seller is giving me 2% towards close but there is another 10% towards repairs that we are looking to have done. My lender is saying I should work with my agent to have the repairs covered outside of close but I'm nervous about having to potentially play collections to get the money from them after we close on the house. Does anyone have experience with this?
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. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
