All Forum Posts by: Brittany Minocchi

Hey Zach -

Mixed use properties can be tricky with more than 10 units, but there are options out there. Happy to connect. 

Quote from @Matthew William:

Quote from @Brittany Minocchi:

Welcome! I invest, lend and am located in Ohio (about an hour south of Cleveland). Happy to connect if I can be of assistance. 

What’s the best way to work into my first invest as a newbie? 

I'd consider the following to start:

Are you focusing on appreciation, cash flow, or both?

Are you planning to fix and flip or buy and hold? If buy and hold - short term or long term rentals?

Single family or multi-family? 

Will you be using your own money to fund your deals or OPM? If OPM, will it come in the form of private money, hard money, a conventional loan, or a nonQM loan? 

Is your credit currently at a place that puts you in a position for a great rate and terms, or are there things you could work on? 

Do you have boots-on-the ground and/or a person or team of people you can count on, especially if you end up investing out of state? 

Are you planning to manage yourself or hire a property manager? 

Welcome! I invest, lend and am located in Ohio (about an hour south of Cleveland). Happy to connect if I can be of assistance. 

Quote from @Jonathan Youse:

Hello BP Community,

My name is Jonathan Youse, I have recently moved back to my hometown of Columbus, Ohio from CA. Currently my wife, daughter and I are living with family and saving steadily each month to leverage our future differently. During the transition I found a lead on a sizable SFH opportunity that requires significant renovation but has a high potential return. I began researching and self educating on Real Estate Investment.

It has been 10 days since I joined BP Pro. In that time I have secured two realtors, pre-approval for an investment property, and most critically a successful and experienced mentor with access to additional private funding. This is my starting point. If successful, the capital earned from this first experience will roll into future projects. 

If you are local to the central Ohio area and would like to connect on potential partnerships, please reach out. 

Good luck everyone.

Welcome back to OH and good luck! I’m in the Akron/Canton area. 

Quote from @Xavier Aliche:

Quote from @Brittany Minocchi:

Hi Jay —

There are a couple of lenders out there that will do 85% LTV. Keep in mind the higher the LTV, the higher the FICO requirements and the higher the rate in most cases. Feel free to shoot me a message if you‘d like to discuss further.

What are your DSCR 30yr LTV, cash out LTV and minimum loan amount?  do you lend in Houston? 

Yes to Houston, I have one lender with a minimum of $75k but most others are $100k+. As far as LTV, it depends on FICO, property type, loan amount, ratio, etc. I’ve seen anywhere from 60-85% depending on the property and borrower. 

Traditional financing or nonQM? NonQM usually has a minimum loan amount of $100k (although I do broker to one lender that will go down to $75k) but $70-$80k with traditional financing wouldn’t be an issue at all. Happy to connect if you’d like to discuss further. 

Hi Sarah!

I'm a lender based in the Akron/Canton and invest here as well. I have a few investor-friendly real estate agent recommendations if you need them. Welcome, and happy to talk about whatever, whenever!

I know someone who covers both residential and commercial in that area - happy to share his info, just shoot me a message! 

Traditional financing? I can go down to a ~$50k loan amount depending on the whole file. NonQM is harder - I haven’t come across a lender that’ll go below $75k. Happy to help if you’d like to connect! 

The lower loan amounts have higher rates and fees (especially on a multifamily investment) and LOs don’t make much on anything under $100k, so some might not think it’s worth the work. 

Hi Jose! 

Happy to connect if you'd like to send me a message to discuss.