All Forum Posts by: Andrina Maximin
Andrina Maximin has started 2 posts and replied 5 times.
Post: New and Would like to JV
- New to Real Estate
- Miami, FL
- Posts 5
- Votes 10
Hi Everyone are there any wholesalers who would like to connect? I'm located in Miami, FL and would love to also JV, and I also don't mind wholesaling out of state, I cant wait to learn more and hope to grow and connect.
Post: Has anyone used a DSCR Loan, what are your experiences with loan product?
- New to Real Estate
- Miami, FL
- Posts 5
- Votes 10
Quote from @Devin Peterson:
Quote from @Andrina Maximin:
I finally want to dive into put my training wheels to the test, I'm looking into investing in Ohio, and would like to know has anyone used a DSCR loan? I initially wanted to do a BRRR but since I'm not the from the area, real estate agents are telling me I should maybe start out with a turnkey to get my foot in the door? Can I please have the BP community thoughts on this?
Is DSCR loan worth it or does it depend on my strategy. I hate that my money would be stuck in the property though. hoping to get some insight.
Hi Andrea, It would depend on what your strategy is going to be in the long run. DSCR loans are great for investors seeking rental properties that they want to cash flow upfront. If you want to renovate the asset, you may want to see a bridge or hard money loan. There are a lot of assets in Columbus that are basically turn key properties, and even if you have some minor renovations (5k-10K)I would recommend trying to go after an interest-free credit card AFTER you are approved and close for your loan. Don't shop credit cards and mortgages at once, you ll create havoc for yourself. I would be happy to connect and chat more if need be. Good luck!
FYI for all real estate questions regarding the Columbus market I recommend @jimmylieu - he is the BEST!
Post: Has anyone used a DSCR Loan, what are your experiences with loan product?
- New to Real Estate
- Miami, FL
- Posts 5
- Votes 10
I finally want to dive into put my training wheels to the test, I'm looking into investing in Ohio, and would like to know has anyone used a DSCR loan? I initially wanted to do a BRRR but since I'm not the from the area, real estate agents are telling me I should maybe start out with a turnkey to get my foot in the door? Can I please have the BP community thoughts on this?
Is DSCR loan worth it or does it depend on my strategy. I hate that my money would be stuck in the property though. hoping to get some insight.
Post: Hello Columbus! sell me or scare me
- New to Real Estate
- Miami, FL
- Posts 5
- Votes 10
Quote from @Jayson Cain:
Hi @Ken Livingston,
I'm based in Southern California, but I have started my out-of-state real estate journey in Indianapolis. Now, I have a portfolio of Short Term Rentals and Long Term Rentals. I've started looking at Columbus because my business partners have found success doing Mid Term Rentals there and the returns are solid.
I've also helped other investors with their DSCR loans and flip projects in Columbus. Happy to share my experiences and chat with you more if you're interested.
is it possible to connect with you? I'm wanting to invest in Columbus been getting a lot of mixed reviews and would love to know more about thinking about the DSCR loans as well.
Post: Hello Columbus! sell me or scare me
- New to Real Estate
- Miami, FL
- Posts 5
- Votes 10
Quote from @Nicholas L.:
why not pick an area that is closer to home, where you can be hands-on? not sure what area in NJ you're in but you might be close to lower cost markets in PA, CT, etc.
Columbus is definitely a great market, i just think that given the current market conditions, new investors need to be hands on. if you're going to travel there in person to set up your team, network, and look at properties, great. but the days of pushing internet buttons to easily get a cash flowing deal are over.
Hi, i seen this conversation and had a question, I hope anyone of you can help, I've been thinking about investing in Ohio as well, would you recommend something like a turnkey? instead of doing a BRRR since with a BRRR property it would be a very hands on project? but I am willing to travel to put my team together if that what it will take.