All Forum Posts by: Aarielle Pannesi

I found a deal I'm looking to purchase its an investment property and it would be my first investment, and I need a 30 year fixed would you go specifically for a portfolio lender or would you go for a small bank/credit union first.

I really believe I want to go dscr but I dont know if that is a stretch considering its my first property...

can you refinance or is there a penalty..

give me your feedback

0 Votes

Quote from @Greg Downey:

@Aarielle Pannesi. I would say the tried and true method would be a combination of B,C and D. You'll need reserves always, but more now than ever. Use private money to get a rehab loan, then refinance out and get your money back. This is classic BRRRR. Going all cash only limits your options and makes B very risky. The only two major benefits to going all cash are speed and not having to answer to someone.

My clients are cautious BUT steadily doing deals. We aren't seeing much of a slowdown right now, so I'd look for those BRRR deals and use leverage.

Thank you for your honest feedback, BRRRR will be the route I take. I appreciate you for spelling it all out for me. This was what i found to make the most sense as well but just wanted to get the opinion of someone seasoned.

0 Votes

Columbia, South Carolina

Lets say hypothetically you were coming into some money we will say 100k for reference. Would you;

A. Use the 100k to finance your own investments lets say auction houses or wholesale opportunities.

B. Use private money to fund your investment and use this for reserves

C. Use private money to buy and personal money to renovate (BRRR)

D. Use this as a downpayment to a private money lender or portfolio loan and then when you refi pay yourself back

Lets assume I do not have the income to go the traditional route of conventional loans

0 Votes

Columbia, South Carolina

I found the owner its an llc haha the search continues for someone to contact!

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How do you find out of state owners information? I have access to my own mls but not this states. Where are the records located?

Hoping to set up a temporary seller financing contract while awaiting an incoming settlement.

Thanks in advance!

0 Votes

Hi,

I found a property in SC that im looking to acquire as an investment but I think hard money is the best way to go about this property is anyone interested in hearing about this deal and possibly working something out?

2 Votes

Quote from @Erik Estrada:

Quote from @Aarielle Pannesi:

In what circumstances would you consider a hard money loan a good option or a good idea?

Here are 3 scenarios where hard money can make sense:

1. Purchasing a property that needs significant work and will be used as a rental or flip. Most conventional lenders will not lend on a property that is uninhabitable

2. Cross collateralizing other investment properties so you can buy with little of your own cash.

3. In markets where conventional lending is tight and the deal is very good.

Perfectly explained. very grateful for the information

1 Vote

Columbia, South Carolina

In what circumstances would you consider a hard money loan a good option or a good idea?

1 Vote

Columbia, South Carolina

Quote from @Account Closed:

Hi Darnell:

I can help you with loan amounts down to $55,000 on DSCR loans. We require 20% down, so that would make or minimum purchase price $68,750

What states do you cover?

0 Votes

Detroit, Michigan

Hi Yall,

Looking for an owner financed deal in Columbia if you know of anything or have one yourself. Let me know! Thank you!

0 Votes

Columbia, South Carolina

All Forum Posts by: Aarielle Pannesi

Aarielle Pannesi has started 7 posts and replied 13 times.

Post: 30 Year Fixed

Post: what would you do with the money in your account

Post: what would you do with the money in your account

Post: Seller Financing Question

Post: Seller Financing Question

Post: Hard Money Lender

Post: Under what circumstances would a hard money loan make sense?

Post: Under what circumstances would a hard money loan make sense?

Post: DSCR loans for $50-$80k purchase price

Post: Looking for a Seller Financing Opportunity