All Forum Posts by: Charyl J.

Hello friends,

I'm currently in the researching and getting my finances together phase for property #3. I want this property to be a small multifamily (2-3 units). One day on Facebook I saw someone mention a property they bought with a DSCR Loan. It was actually my first time hearing about a DSCR Loan. Does anyone here have experience using this type of loan, and can offer a little insight? Would I be able to look into this loan to purchase a small multifamily property?

As always, I appreciate any help anyone can give.

Thanks!

Charyl Jones  

@Isa G. Thank you!! This is very helpful. I will look into him.

Thanks for the reply @Daniel Hyman. I've been searching for awhile and there are so many options I honestly have no idea how to narrow it down. I'm hoping someone has a CPA they use or have used that they can recommend to help me narrow things down. 

That's awesome!! And a great area. I'm in Kalamazoo but would like to expand to Grand Rapids in the future. 

Hello! This is my first time filing taxes for a Rental Property. I'm hoping to get some recommendations on a good CPA who works with real estate investors in the Kalamazoo/Grand Rapids Michigan Area. Any help is appreciated.

Thanks!!

@Brian Fiorillo thanks for the advice! This is what I'm officially doing. With a different insurance company that I found. I'm going to spend about a month doing some renovations, and then I will move in and get a normal home owners policy. Thankfully the property doesn't need much work to be livable. In my opinion it's already livable honestly lol

@Ben Guttman Thanks for the advice! I will look him up.

@Cameron Moore thanks for the advice! It is a tough situation. I will find a broker and see what they say.

Hi again friends!

So for my current real estate adventure I'm in the middle of buying a single family house in Michigan. It is in need of some repairs but is very much livable. I plan to live there and house hack while completing the repairs. This will be my 2nd property. But my first house was in better condition when I bought it.

The trouble is that I'm having a heck of a time finding home insurance for this house. One place turned me down after seeing the inspection report and said they cannot insure a house that is in bad condition. Another company said they cannot insure the house because it has knob and tube wiring even though it is Not Active. The house also has copper and galvanized piping which one company did not seem to like. Plus the fact that I plan to live in the house also makes things complicated. 

So any advice or references for an insurance company that can help would be absolutely amazing!!

@Dave Hutson thanks for the info!! I will message you for her contact information.