All Forum Posts by: Andrew Garcia
Andrew Garcia has started 0 posts and replied 706 times.
Post: Getting into New Builds

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Hi @Matt Ternullo, you could hire a builder that has the experience to fulfill this requirement. Owner-builder is tough to find.
You could look into private or hard money then refi into a conventional or DSCR loan once complete.
Hope this helps! Let me know if I can be of any assistance.
Post: Wholeselling to Yourself

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Hi @Alexus Krumroy, there is no reason to wholesale if you are the buyer. That is essentially just buying a property.
Post: Buying houses at Auction

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Hi @Grayson Gladu, as long as the HOA owns the property, you will receive ownership of the property after winning the auction.
The biggest thing to know about auctions is that they usually require you to pay within 24 hours of winning the property. Due to this, you cannot get traditional financing.
A lot of people will do delayed financing after they win if they are using conventional.
Otherwise, you could do a DSCR right after you close so you get your money back in a month.
Hope this helps! Let me know if I can be of any assistance.
Post: NEW! JUST INTRODUCING MYSELF AND SEEING OF IT!

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Hi @David Urena-Amaro, welcome to the community!
You seem very driven and motivated! I am excited to see your journey in real estate.
Let me know if I can ever be of assistance.
Post: Looking at getting my real estate license, but may move.

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Hi @Nicholas Brosnan, some states allow you to get a license in their state with minimal work.
I would get it now because you might do a deal in the next year. Plus, you would have all that knowledge!
Hope this helps! Let me know if I can be of any assistance.
Post: Invest in Cash Flowing Townhouse?

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Hi @Jack Robinson, the two biggest issues with townhouses is the high HOA fees and the HOA themselves.
Since this property cashflows, the HOA fees is not an issue.
The HOA themselves could be an issue. Some have rules against investment properties. They could create rules against it. They can be a pain to deal with.
Generally, they also have slightly lower rents than SFHs. Other than that, it is a pretty straightforward property.
Hope this helps! Let me know if I can be of any assistance.
Post: Short term Rental Business Expansion Loans

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Hi @Account Closed, your best bet would likely be a DSCR loan. They use the estimated income of the STR to qualify you, not your personal income.
This allows you to scale really fast. You would need the ensure that you have the down payment. That is the biggest roadblock to scale.
Hope this helps! Let me know if I can be of any assistance.
Post: Best Part-Time Real Estate Jobs in CLT

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Hi @Katalina Mendoza, there are quite a few real estate jobs that you can do part-time.
The biggest thing is finding a company that will support you, even though you are part-time.
Being a part-time real estate agent is really common. You could also be a part-time lender or start a side hustle wholesaling or flipping.
I am sure that you will not have a problem finding a job. The bigger issue is determining which part of real estate you want to get into.
Hope this helps! Let me know if I can be of any assistance.
Post: Partnership in the near future (roughly a year timeline possibly)

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Quote from @Account Closed:
@Andrew Garcia I haven't ever heard of a DSCR loan before. I will look into that for sure. Value-add would be a rehab? I haven't heard that term yet. I have some property managers that I would have manage the deal. The reason I mention the mortgage is because then I would still have some skin in the game. I don't have any intentions on defaulting because I would have at least 6 months of reserves in PITI.
Yes, a value-add is rehab or managing the contractors or something similar.
A great way to start is wholesaling. That will allow you to build relationships with investors in your community and make some money while doing it.
Then, once you have experience finding good off-market deals. You can go to an experienced investor in your area and pitch them on the idea of either flipping or BRRRRing the deal.
Pretty soon, you will have a portfolio.
That is just one way of doing things.
Feel free to reach out with any questions on DSCR loans. Happy to help.
Post: Need help with comping

- Lender
- Charlotte, NC
- Posts 739
- Votes 410
Hi @Olga Kostrova, price per square foot is a huge factor in comping. If you are not utilizing that, you definitely should.
Otherwise, reach out to some local realtors. Ask them about how properties are comped in your area.
Don't take advantage of them, though. If you continue going back to them for services, use them on your next transaction.
Hope this helps! Let me know if I can be of any assistance.