All Forum Posts by: Andrew Garcia

 Typically, private lenders are the best for those loans. I do not personally know any lenders that do them.

Hi @Kenneth Zavala, having a CRM is a must. That way, you can set it up so that when you get a lead, they are automatically getting on a drip campaign.

The CRM should also push reminders for you to take actions when necessary.

Hope this helps! Let me know if I can be of any assistance.

Hi @Kendrick Pratt, it is a great idea! The VA loan makes it even better.

You need to think about the exit strategy. When you leave the house are you going to rent out the room that you lived in or are you going to rent out the entire house?

Are you going to sell? If so, you should live in the property for 2 years.

House hacking is almost always a good idea. Even if you don't cashflow, you are still breaking even or having a significantly reduced payment.

Hope this helps! Let me know if I can be of any assistance.

Hi @Filippo Ceccagno, welcome to the community!

I do not really know much about London but I have some ideas on how you can find landlords.

You can do a direct mail campaign to the owners. You can go to local real estate meetups. You can try to find some on BP.

There are so many strategies but I am not sure which one is most effective in London.

Hope this helps! Let me know if I can be of any assistance.

Hi @Ben Capone, there are a few options here.

1. Cross-collateralization loan. This is where you take the equity that you have in the current property and use that as collateral rather than a down payment.

2. Second lien. Get a second mortgage. These have higher rates since they are riskier but could be worth it.

3. HELOC. The issue is that rates are rising and they are adjustable rates so you run the risk of paying really high interest rates if you do not repay it fairly quickly.

Hope this helps! Please let me know if I can be of any assistance.

Hi @Karmen Wong, you are in the right place!

If you go to the "Find An Agent" tool at the top of the screen, you should be matched with a few different agents in Houston that can help you.

Hope this helps! Let me know if I can be of any assistance.

Hi @Brian Stuart, when none of the comps are flips, you can still calculate ARV.

Make sure you have similar comps then find the ones in the best condition. That is now your floor for your ARV.

If you run numbers on that, you know that it will almost definitely sell for more. That means that if you run numbers based on that ARV and it makes sense, then you should move forward. No further action is needed.

If the numbers are tight with that number, I would contact a local real estate agent that is familiar with fix and flips. Ask them what premium is typical for renovated homes in that neighborhood for similar properties. They should be able to help you with that.

Hope this helps! Let me know if I can be of any assistance.

Hi @Joseph Wells, you have two options here.

1. HELOC or second mortgage as a primary and live in the property a little longer.

2. Get a second mortgage or HELOC as an investment property. Higher rates but you can move out immediately.

Hope this helps! Let me know if I can be of any assistance.

Hi @Nick Lockard, the loan you are likely looking for is a renovation loan.

If you qualify for conventional, you should look at Fannie Mae Homestyle with 5% down.

If you qualify for FHA, you should look at FHA 203k with 3.5% down.

You can tear down to the foundation and rebuild with a renovation loan.

They have better rates and are generally easier than construction loans.

Then, you will likely have equity so you can refinance and remove PMI or take some cash out if you have enough equity.

Hope this helps! Let me know if I can be of any assistance.

Hey @Kailey Van Camp, I know a great lender licensed in FL and GA for DSCR loans.

Let's connect!