All Forum Posts by: Ben Tharpe

Hi, Brian. I'm actually already attending a real estate Meetup on that night. Feel free to send me the next one after the 12th. I am also going to one on December 3rd. I'm eager to learn and go to as many meetings as possible. Thanks so much 

Thanks for the advice and referral. I appreciate that 😀

Hi, Aubrey. My name is Ben and I was thinking about attending this event. I'm new to the area (moved here in January). I'm also pretty new to the real estate investing world. I've had 2 Airbnbs and did 1 house flip but other than that, I'm still a novice. Is this group "new investor friendly"? I just didn't want to show up and there only be a few people attend. I don't have much to offer but I'm wanting to learn from others and surround myself with successful people. Feel free to send me a message. Thanks so much!

Hi, all. First off, thanks to everyone that takes time to read and respond to this post. I sincerely appreciate you in advance. I'm new to Colorado Springs, Colorado. Just moved here in January, 2024. I will be a serious real estate investor in 2025. For now, I'm preparing to start my business off right and I want to engage with a knowledgeable real estate attorney. I am assuming an LLC may be the best structure but I will leave that up to the attorney. Anyway, I'm looking for someone that is investor friendly. I will be interested in creative finance deals overall. I'm also definitely looking for recommendations on a title company, hard money lenders, and any other people in real estate that you can recommend to me. Thanks everyone! 🙏

I really appreciate everyone taking the time to answer this for me, as well as the rest of the community. I know a lot of people must struggle with this issue so hopefully lots of people benefit on this discussion. Thanks!

Thanks for everyone's replies so far. Maybe going to 3 sets with off site laundry cleaning is the best and possibly only good solution. Curious if anyone else has an alternative way. 🙂

Hi, guys. I appreciate all replies. So I have 2 STRs. Drying linens and towels is definitely the slowdown. Both of my STRs are 4 bedroom/2 bath with duvet covers for the comforters. So when all 4 beds are used, there is a considerable amount of laundry. The dryer is definitely the slowdown. Both units have a brand new large capacity washer and dryer. I also buy things that are labeled as "fast drying".

My cleaning lady has left damp towels/linens a few times now which would cause mildew and unpleasant smelling laundry if I didn't catch the mistake. 

I just want to see how you all handle laundry with your cleaning crews especially on 4+ bedrooms. I would love some advice on this matter. Thanks so much for your time.

Yes, I had to put that amount down due to DTI. Which is why I'm very interested in dscr loans. I am going to show much more of my income next tax return though so I can attempt some conventional loans as well

Thanks so much for the quick replies. Much appreciated guys

Hi, all. This is my first post. Thanks so much for any responses. Been lurking for a while but couldn't find any guidance for this question. I just bought my first STR in Louisiana about a month ago and actively renting it out. Due to being self employed, my local mortgage lender required me to put $90,000 (40%) down on a $221,000 house since it was an investment property. (I already have a primary residence that I own) Sometime in the next year or so, I would like to do a cash out refi to use some equity to put towards my second rental property. Will a dscr loan work as a cash out refi? Meaning that they wouldn't need my tax returns and allow me to refinance with them and pull all of the equity out minus the typical 20% down. Since conventional loans require me to put so much down on investment, I'm thinking everything should be dscr for now?