All Forum Posts by: Brenna Carles

Hey Genevieve! Yes, you can do a duplex with 20% down DSCR loan. You can also do an 80% ltv cash out as well on these and keep it in the LLCs name. Hope this helps!

There are lenders that can do a commercial bundle but you want to check out the interest rates, and down payment for them in total. If you do conventional or DSCR, you can talk with the title company about giving you a discount to do all five properties with them so your out of pocket costs are less. Hope this helps!

Hey Bryan,

Have you thought of getting into STRs? I know you say going outside areas you do not understand is scary which I definitely understand! However, numbers don't lie. I would start researching STR income numbers for The Smoky Mountains, Blue Ridge Mountains, and Gulf Shores to start with. @Avery Carl's team specializes in STRs and can actually help you decide which areas may be profitable for your budget as well as educate you on the areas. However, it is good to visit the area you invest in so you can recommend places to eat, fun things to do, etc. It helps the guests feel more connected and therefore, better reviews. Hope this helps! 

Hey Travis! Congrats on a successful line of REO! Have you thought of STRs at all? There are a few Realtors on here such as @Avery Carl that strictly specialize in STRs and also helps you figure out which market would best suit you. When you have exhausted options near you, it may be time to look in other areas as well! Hope this helps!

Hey Edward! 

You probably have more opportunities than you realize! First off, college can take the place of a two year work history. Were you in college for the past two years? You can also use part-time income if you have been doing it for at least two years. Do you own your primary residence yet? If not, a cool thing to do is to buy a duplex and rent out the other side. This person in turn will cover your whole monthly mortgage payment with their monthly lease, or at least most of it. This way, you will have little no monthly mortgage payment, and you can just save the income you will make from your current job or most importantly, the job you will be receiving. Hope this helps! 

Hey Brendan! From a DTI perspective there is a DSCR product that can work for you so that you can scale quickly. It does not go off of personal debt or personal income and you can do 15-20% down depending on what you want your cash on cash return to be. There is also a second home loan that you can do 10% down on but this does go off of your personal income and debt, and you would need to intend to vacation there as well. Totally possible for the debt problem to do the 15% down DSCR. For the funds: If you already own any real estate, look into getting a HELOC as opposed to refinancing. HELOCs go off of your equity in the property you own, and can be used multiple times as opposed to a refinance which is one and done. For the second home loan you can get a gift from a relative if you have at least 5% down of your own funds. For the DSCR loan you can also get a gift from a relative if you have at least 5% down of your own funds and with good credit you will not need to show reserves! There is always a way. It may be difficult or confusing at first, but if you research these options, you will find something that will fit in your long term goal category! Hope this helps!