All Forum Posts by: Brian Valdivia

8 weeks to close is hectic, lol. DSCR has slowed down ever since lenders cut staff from Covid and most didn't rehire. Many will advertise 3-4 week closings, but having closed nearly 250 DSCR loans in the last 36 months with many lenders, most are 5-6 week closings.

A lof of local Baltimore investors like myself work with Shaun Wagner, Brian Valdivia, Tibor Wilhaelm, you can find their on facebook, 

@Brian Valdivia is a member here.

Also RCN Capital has good terms as awell.

Hi Heidi here, excited to learn different strategies in real estate investment, currently looking at rentals, but open to more

Hi guys,

I have a couple of friends and colleagues that are interested in lending me some money for projects I’m doing.

What options do I have to give them security except for “first lien position “ on the property?

Most of the projects are fix and flips or BRRRR

Is anyone here familiar with PML bridge fun of Cincinnati? Has anyone worked with them or if you heard anything go to bad about them? Are they legit?

Looking to scale my rental portfolio. I have been in the search of lenders with low or no minimums for purchase/ refi. Have found that most DSCR lenders have 75k-100k minimum loan amounts. I live in a cheaper market with a lot of sub-75k properties. Current lender have no minimums but the fees are high and they want 30% down. Looking to possibly connect with a new lender and discuss my options. Thanks!

Hi everyone! 

We completed our first BRRR (or almost) and we are at the cash out stage. Guidelines for conventional read we can only pull out our initial investment on the purchase price (not the rehab)... we want to get our funds on the rehab and purchase back to do it again... how do you get around the 6 month seasoning of pulling more then the initial investment out?

Facts: 

Initial purchase price $45k 

Rehab $50k 

After Repair Value $125k 

Purchase 7/18/2023

Trying to pull out 75% of our After Repair Value to BRRR again now. Let us know thoughts!

Hello, Philadelphia Bigger Pockets Community,

After lurking the Bigger Pockets community for a very long time, I'm excited to make my first post! I've Recently temporarily relocated from Southern California to Philadelphia to be with my girlfriend as she finishes up at UPenn. I thought this would be the perfect opportunity to explore “Out Of California” real estate investing! With a family background in California real estate and a personal passion for real estate and financial analysis, I'm eager to venture into the world of real estate investing.

My primary goal is to invest in a rental duplex or triplex in the vicinity of the city of Philadelphia - preferably something that requires some work that I can Rehab. This will be my first time ever purchasing a home or investing in something of this scale. Definitely a bit overwhelming especially considering such a large investment and being new to the city.

I am looking at properties in the price range of $350 to $500K, with a 20% down payment, and I am open to properties in need of renovation. Based on my research, I've focused my attention on the following neighborhoods: Point Breeze, Manayunk, Roxborough, and Wissahickon. Over the past month, I have scoured various forums on platforms like Reddit, Bigger Pockets, and YouTube to build an Excel file listing recommended contractors, plumbers, roofers, HVAC specialists, agents and more, as suggested by experienced individuals and investors.

Despite the extensive research, I know that nothing surpasses firsthand experience. Was really just hoping to hear anyone elses recommendations, experiences, advice and or guidance for going through rehab and investing in rentals in Philly. Can be pretty overwhelming especially for the first time so appreciate any advice you all have!

I'm eager to learn from your insights, recommendations, and experiences related to rehabilitating properties and investing in rentals in Philadelphia. The initial stages of such an endeavor can be overwhelming, especially for a first-time investor, so I genuinely appreciate any guidance and advice you can offer.

I genuinely appreciate any guidance and advice you can offer and thank you all in advance!

, @Chris Seveney,

@Devin Peterson

@Brian Valdivia

Thanks all for the tips.

The property is $400k and I plan on putting 20-25% down with a credit score of 780+.

I'll looking into having a tenant but I worry about the coordination woth a "chicken and egg" situation.

How would I get a tenant without owning the property?

How would I get a lender when there is no tenant. 

I may have to look into a private lender as suggested above.