All Forum Posts by: Brian Valdivia

thanks @Tom Gimer  they perform all right.  We may have gone a bit overboard with the rehab... so our overall cost of the properties is higher than it potentially could have been.  

It's definitely an expensive endeavor in the off-season.  We try to use furnished finder to keep them occupied and bringing in some sort of revenue.  Our smaller unit, 1 bed 1 bath is the best performing asset down there in comparison to our 2/2 condos and our 2/1.5 townhouse.

Hello!!

My name is Brian Valdivia and I invest in the Baltimore, Cambridge, and Ocean City markets in Maryland!  I have been using the bigger pockets resource since the beginning, but never took the time to get my profile all set up!  

I have one partner on our portfolio which we started building back around 2021.  We were friends in high school and are both from the Essex / Dundalk area of Maryland.  

We currently own right around 119 total units.  5 of which are Short Term rentals in the Ocean City market.  We primarily invest in long term rentals in the Dundalk and Essex areas of Maryland.  We do a good mix of market and voucher tenants in our properties.

We utilize the BRRRR strategy at a high volume. We aim to purchase 6-10 properties per month. We purchase with hard money, renovate them, and then use Beltway Lending for the refinance into a long term DSCR loan.

I am always happy to connect and talk with anyone about our process, what we look for, how we source properties, and any other detail you can imagine.

 Miles,

In my experience with Beltway Lending, there are two options (listed below) and they do not account for your personal experience.

-30 Days: Rate/term refinance. This means that we are just paying off the existing debt on the property and going into a long term DSCR loan WITHOUT taking any cash out of the property

-90 days: Cash out refinance based off of the appraisal value

Hey!

A couple questions with my thought process behind it.  This has happened to me a few times:

1. Is there an agent involved?  
1a. if so, they can likely help figure out why the buyer is changing. Also, they can help vet what's going on

2. Is the buyer 100% using financing? If not, the llc wont matter

3. Is there any chance it is being assigned?  Not the end of the world if so, as long as it closes on time.

 Hey Fred!

DSCR loans are the answer for these. I personally use them for my own refinances. They do not have the same restrictions and offer a few other benefits. Here's a few:

-More than 10 (fannie  / freddie limit)
-Close in an LLC or Corporation if desired
-These loans won't show up on your personal credit score once they close
-Underwriting evaluates the property's income instead of your personal debt to income.

 Hey William!  Once this property is leased up and stabilized I think that you'll have a much easier time getting longer term financing.  I do have a few resources that can help on the financing for this one, but definitely want to wait until it's stabilized.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000
Cash invested: $7,671

Long Term Rental with Market Tenant

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $72,000
Cash invested: $6,136

Long Term Rental with Market Tenant

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $48,707
Cash invested: $4,151

Long Term Rental with Market Tenant

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $47,983
Cash invested: $4,089

Long Term Rental with Market Tenant