All Forum Posts by: Brian Valdivia

Quote from @Gary Gibson:

Why not just make it simple enough to outsmart the software? Set the unit up as 101-A for Tenant, and 101-B for Housing Dept., and divide the rent accordingly.  After all, it's 2 sources of rent payment, they both have to pay, and will pay at different times.  If Rent is $1300, set up Tenant to have a monthly receivable for $300 (for example) for 101-A, and a separate monthly receivable for HD for $1000.  I'm just getting into Baselane, but my understanding is they also offer an option to "split transaction amongst properties or units" and have "separate collaborator logins." (From their site.)

While I don't necessarily disagree here.  I am relatively new to the software and not married to it yet.  I want something where I don't have to "outsmart" the software.  I'd much prefer having something that was designed for the way my business operates that I can continue to grow with.

To qualify this further, I have 20=2 units and 68 of them are currently subsidized.   So it's important to me to find something that works consistently with how my business operates.

Hello,

I searched the articles on Baselane's website, BP, and Reddit.  I can't seem to figure out how to structure the tenant's portion of the rent while showing that a portion is being paid by the housing department. 

Can anyone advise here?

Hey Troy!

Great question - start the refi process now while you're working on getting it rented. Getting an appraiser out there in the property is always best while the property is vacant. You can refi it while it's vacant.

Feel free to shoot me a message if you want to discuss further.

Quote from @Paige Gardner:

Does anyone have Any HML recommendations I'm a beginner and want to get started right away but want to weigh my options

 Hey Paige!

We are a great fit for beginner investors. Our program only requires a small 10% down payment on the purchase price and we will fund 100% of your rehab costs. This required no experience. We make it easy to get started.

Feel free to reach out with any questions! We have well over 100 Five Star Google reviews.

Hey Jacob!

Great question - the seasoning period typically begins the day that you purchased the land. We can cashout refinance this at 3-6 months from the time you bought the land. 

Feel free to reach out with any questions, happy to help!

Hey! We can do this, give us a call!

Hey Danny!

We are investors and we do DSCR loans for other investors. We have well over 100 Five Star Google reviews. Reach out with questions or if we can help!

Hey Mary!

DSCR loans are fairly simple and efficient overall. They don't require employment verification, income or tax returns. Loans are approved based off of the rental income of the property. You also have the option to close these DSCR loans in your LLC as opposed to your personal name.

Our team finances just shy of 100 DSCR loans on a monthly basis. Feel free to reach out with any questions!

Hey Tanuj,

We do this type of loan all of the time. We have well over 100 Five Star Google reviews. Feel free to give me a call, happy to help or talk through it.

Hey Christopher!

Credit Unions can be really great for investment property loans. I utilize DSCR investment loans and close in my LLC. I don't need tax returns or proof of income so it makes it really simple.

Our company closes just shy of 100 DSCR loans on a monthly basis. Feel free to call me if you have questions, happy to help!