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All Forum Posts by: Jasmine Wilkes

Jasmine Wilkes has started 55 posts and replied 130 times.

Post: Cash out refi no mortgage on home

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19

Thanks to all who replied. I will be contacting a few of you in the coming days to compare before i make my decision. I have owned this property for almost 10 years and originally purchased with cash and of course work has been done over the years. ceramic tile in bath and kitchen, laminate wood in the rest of the rooms, cabinets and countertops, sinks in bath and kitchen, new tubs and toilet etc.. located in st louis its a 2/1 but will rehab to make 3/2 so we will be adding value to the property and will be using the rest for capital for the company as i have other deals I am looking at... And we are already in missouri and texas and will be expanding to do business in other states as well

Post: Cash out refi no mortgage on home

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19

Are there lenders that will do a cash out on a property with no mortgage? And I wanna separate business from personal so I wanna get the loan in my llc transfer title to my llc.. 

Post: Looking to move

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19

I know someone looking for something in st. Louis. 1 or 2 bedroom preferably south city around Pernod area. 2nd choice of location is somewhere nice and well kept. She is an elderly woman so this is an easy and permanent client. Willing to pay rent no more than 900. Ready to move asap. She works at bjc hospital and been there like 40 years so she is stable as they come.. clean and well kept

Post: Attorneys that's eviction knowledgeable

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19

Any attorneys for St Louis? Please reply I have an apartment building full of tenants in need of service.. some real injustice. 

Post: Refinance in low income neighborhoods

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19

Hi all. Was wondering where to go to do any refinancing on homes in low income areas.. the houses are under 100k more like 50k to maybe 80k.. banks have a minimum house worth 100k.. I own it free and clear so there is no mortgage.  So can't do a heloc cause they want you to have a 1st mortgage already.. who does refinancing on house under 100k? And with the money I would rehab the house adding a bed and a bath so I'm adding value to the home and with the rest I will be using it to acquire more homes with my llc and work my company 100% of the time.. 

Post: how do you get gap funding

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19
Quote from @Chris Seveney:

@Jasmine Wilkes

Most likely best bet is to bring on an equity partner as most lenders will view it as too low a loan for the risk


thanks. seventy mortgage note are good equityy partners?

Post: how do you get gap funding

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19
Quote from @Marty Johnston:
Quote from @Jasmine Wilkes:

im about to purchase this property and trying to find gap funding for an amount under 20k

 @Jasmine Wilkes there are a few options ,but is this for a rehab/new construction/value add deal or rental? Gap funding at eat away at cashflow quickly depending the deal if being used to acquire a rental (no value add). Gap Funding is very well suited for rehabs and new construction as you can exit/payoff the gap loan without carrying the higher interest cost (ranges from 7-15% depending on a number of factors).


 yes i know that. its a rehab project

Post: wholesalers in st. louis and surrounding areas

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19
Quote from @Kerry Noble Jr:

find Lucy Miller on FB....shes killing it in STL


 will do and thanks. we need to chat cause im about to be doing business in indiana as well

Post: finding gap funding in stl missouri

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19

im in stl missouri and i need to find gap funding so that i can purchase this property soon.. 

Post: how do you get gap funding

Jasmine WilkesPosted
  • Investor
  • grand prairie / st.louis, texas/ Missouri
  • Posts 167
  • Votes 19

im about to purchase this property and trying to find gap funding for an amount under 20k