Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Corwyn Oliver

Corwyn Oliver has started 2 posts and replied 3 times.

Post: Are DSCR loans good to scale a rental business?

Corwyn OliverPosted
  • Investor
  • Missouri City, TX
  • Posts 3
  • Votes 2

Hi BP pros,  

I have some buy and hold rental property, some acreage and several lots that are good for building new SFR or multifamily. If I build, I would like to sell or maybe hold them and pull the equity out to keep buying new rentals. I haven't been investing long but I have about 990,000 in equity (estimated based on sales price of comps in the area). I need about $130,000 to do some repairs. I would like to use my equity to buy more rentals, or build more properties or expand outside of the rentals into rv parks, storage, or tiny home villages. My 'thing' is to make sure I use the equity correctly to keep scaling up and to move towards financial independence. I am looking at a DSCR loan (75-80 ltv plus FEES) but I wonder if there are better products that can allow me to utilize a bigger chunk of my equity to move forward. Would you use the DSCR loan or is there a better product out there? What would be your strategy? What I think I want to do is pull enough money out for the repairs, find a lender that will allow new builds with 0% down since I own the land I mentioned and then buy other multifamily properties with creative loan products they you guys may posts about after reading this or else buy them with (insert ominous music here) the remaining cash with from my DSCR cash out. So I wand to build and I want to buy. The problem I think I have is after do repairs and buy a couple of multifamily complexes will that grind me to a halt once all of that equity is gone - or am I missing something here? So again my questions are would you use DSCR or something else? And what would you advise as a strategy.

Thanks!!

Post: multifamily rehab help needed

Corwyn OliverPosted
  • Investor
  • Missouri City, TX
  • Posts 3
  • Votes 2

@Jeff Greenberg - Thanks, for your response.  I will reach out to him shortly.  

@James Moore - I'm looking in the Marshall, TX, Longview, TX area.  

Post: multifamily rehab help needed

Corwyn OliverPosted
  • Investor
  • Missouri City, TX
  • Posts 3
  • Votes 2

Hi BP family.  I have a property that I'm looking to renovate and rent out as a multifamily investment property.  It is a 40+ year old commercial building that I have a couple of floorplans that I may use for the rebuild.  It is a two story building in area that, it has a good foundation and the exterior is made out of cinderblocks - EVERYTHING else will have to be redone so it is a full job.  I need you guys to weigh in two things (and anything else you think I need to know).  

1) Can you suggest a renovation contractor in the Shreveport, LA-Marshall, TX-Longview, TX area that has expertise in this type of renovation?

2) How can I determine if the property will rent well in the area?  How do I determine how many units, how many bedrooms construct?  

I'm still doing my homework but I need help so that I don't talk myself out of a potentially good investment.  Helllllllp!