All Forum Posts by: Anthony Spencer

@Jackson Poscablo Is there a specific topic for this meeting or just meet and greet? Any idea how many are coming?

Can anyone recommend or underwrite a 15% down DSCR loan based off short term rental income? I'm looking for a 30 yr Am, and someone that can close fast enough to be competitive in a hot market. No prepayment penalty would be a huge bonus as well. Still narrowing down a market, but TN, NC, GA, TX.

I've got access to a 20% down dscr, but looking to increase my buying power to 800K-1M purchase price. 

I just purchased a BRRR property in Carnation in the Snoqualamie Valley. Im trying to decide to use it as a STR or longterm. Do you have any advice on how best to analyze the potential of a short-term option?

Being its a smaller area, I'm not convinced the data on Airdna will be helpful.

@Amanda Dallman

My original post was a little vague. But to clarify, Im not asking in general where to find investors. I mean specifically, I own a commercial property. My first. And Im looking now.

Any direction would be appreciated. Ive been striking out for a several weeks generating leads.

Where/how do I find investors/partners for my new construction mixed use building?

Is there somewhere here on bigger pockets I can actually advertise for investors of Im a pro member?

@John Underwood. Thats what I'm finding so far. Im wondering if applying for a commercial refi through an LLC, might be wise.

Im looking to do my first BRRR, and my first short term rental on a property I just purchased.

Ill have plenty of buffer on my LTV once it's rehabbed, but my DTI will be too high without including any rental income. Ive already spoken to a lender that will consider 75% rental income from a traditional lease agreement. But my question is:

Will any lenders consider future short term rental income towards my DTI ratio, when it comes time for a cash out refi? If no, are there any other creative ways to accomplish this BRRR im not aware of?

I'll try and make this to the point however I do have sereval questions wrapped into this post. I recently bought an off market property, in a small bedroom community, on Seattle's Eastside. Single family homes here are selling for $400-450/sq ft. Its a 1910 farm house downtown on the main street. It's grandfathered in as a single family but its zoned for mixed use. Per the city its zoned for between 5-16 units on a half acres lot. 

I'm confident I could put in $125-$150 remodel, sell it as a single family and gross roughly $300K. But I'd really like to keep it for long term cashflow and future apprieciation. If I were to change the use, it would need to be a full tear down, and I'd need to bring in an investor. Something I have never done before. 

How do I determine whats the best use of this property and my capital already tied up in it? What steps can I take to find an interested investor, and what type of deal should I expect to propose to them? I wouldn't need to squeeze ever dime out of this, I'd just be looking for somthing fair, to learn for the future, and develope business relationships in the process.