All Forum Posts by: Abe Yuen

Villarreal Melinda hi there, Yes if you think you can help me get financing for my situation of course, please send me your email!

John Warren thank you for the suggestion! I actually was in to contact with a commercial mortgage rep from US Bank. The gentleman I spoke and emailed with told me because my debt to income from my 2 existing properties put me over 45% that they wouldn't be able to help me. Did you experience this problem and what kind of property specifically were you purchasing? How much of a down payment percentage did they ask for?

Hi there everyone,

I recently sold my business a few month back and I am currently looking to purchase another couple properties. Ideally I would like to purchase my first commercial property and also another residential rental (SFH).

I am running into some obstacles and hurdles when speaking to the larger banks for commercial property loan financing, seems like because I already have 2 properties under my name/credit its effecting my Debt to Income Ratio too high for their terms even though since I sold my business I have set aside a good amount of funds for a cash down payment so I am just trying to see how much the max I can be prequalified so I can start shopping around and making bids for different commercial property options. 

Also I haven't even brought up the fact that since I sold my business I do not have a current income even though I can still provide my last 2 years tax returns if that helps.

Since this will be an investment and rental property, I was under the impression that as long as I had roughly 30%+ downpayment and the financials looked good for previous rental income/numbers that it should not be impossible for me to be able to get financing based on the merits of the actual property and my cash down payment...regardless of my current debt to income and income situation.

I still receive my monthly VA benefits and have rental income from one of my vacation rental properties I own but I don't think they will count that income until I file it as part of my tax returns.

Can somebody please help me come up with some options for commercial or investment loans for my situation, I would really appreciate it! I feel like I've been spinning my tires trying to lock down my next rental property for some passive income now that I am trying to make a move into real investing full time or at least having some additional passive income streams.

Hi everyone!

I am a new BP member (binge listened to all the pod casts in a few weeks) and relatively new at investing in real estate. I am a US Marine Veteran, SDSU Business Management degree graduate and have owned multiple businesses over the years, as well as involved with multiple investments in the past and currently.

 I own a primary residence in San Diego, CA....Also a vacation rental house in the Palm Desert area (specifically Indio) right across from the infamous Coachella music festival.

I just sold one of my businesses and my main goal at the moment is to buy another property, in a perfect world I would like another vacation rental and also a commercial property but since it would be challenging to qualify for both at relatively the same time. I think I am mostly focused on the commercial property for now so I am looking for deals in Dallas (DFW) area in Texas and also possibly Las Vegas, NV. 

It looks like there are considerably better deals and more bang for the buck outside of my state of California and city of San Diego. I need help with looking for deals, property management and financing options if anybody out there can give me some feedback it would be greatly appreciated.

Thank you for everybody in the community that has helped build such a great wealth of knowledge I've learned so much from already.

-Abe 

I'm also interested at purchasing a property in the Austin area for the sub $300k range...does anybody have any experience or knowledge on utilizing a SFH to rent out as a vacation rental (ex. Airbnb) in the area and if there is good traffic from travelers who utilize these rentals regularly through the year for business or any events?