All Forum Posts by: Danny Jimenez

@Rick Albert ahhh got it. I was just trying to fully understand how it worked and when I supposed to mention I wanted a contingency in place. Really appreciate the clarity Rick!

@Bobby Nilsen sorry if this is a silly question but what do you mean by that they are boiler plate in most contracts? I am planning to do all this out of state so having an inspection done probably wouldn't be doable the very next day id imagine correct?

I want to make sure I actually know what im saying when I finally submit a offer! If in the case I was to follow the same footsteps, I could make a "verbal offer" have an inspection done and THEN make a formal written offer or would that not be able to be done since I wouldn't be able to do the inspection the very next day? Let me know your thoughts.

Appreciate you guys helping out! 

hey @Rick Albert ! Thank you for that reply, and in the case lets say an inspection contingency is made and something is on the inspection that would make me no longer want to pursue that property, I would be able to back out of the deal without losing my earnest money?

Additionally, with a inspection contingency in place, could the buyer technically back out for any reason they claim on the inspection? Thank you for your time! 

Hello BP friends! 

At what point in the purchasing process are the contingencies made?

For example, if you were looking to flip a house, when you make your initial offer, is that when you mention that you would like an inspection contingency? Or would that be in another step?

Thanks in advanced as always! 

As mentioned above, you can basically get the loan anywhere you'd like. (From the state you are in or from the state you're looking to invest in).

Non-QM loans basically gives you the ability to get financing anywhere.

Depending on your strategy, id look into contacting local small banks in the area you are looking to buy as they might offer better rates! 

Hello all! For anyone in the Cleveland Ohio area, what typically is normal in that area in terms of who pays the water/sewer, electricity, gas, & garbage?

Looking at small multifamily deals in the area and was curious as to who pays what so that i can more accurately run the numbers on the deals.

Thanks in advanced! 

@Nick Velez

The more you know the better! 

Will deff try my best to vet all the lenders that come my way. 

Woah! You are all freaking awesome!

And here i was thinking maybe no one would reply /facepalm.

Truly appreciate the feedback from everyone. Pretty much hit the nail on the head for what i was looking for in terms of clarity on DSCR loans as i was getting a bit scattered info through google.

Hello all, I've been searching for smaller multifamily properties in the ohio area and have narrowed the search down to Cleveland.

If anyone has any expertise/knowledge/contacts that they would like to share, please feel free to contact me!

Thank you.

Hello all! 

Currently looking at my financing options as i currently do not have a W-2 job (self employed) so a conventional loan is out of the question.

Through an agent i know, i discovered the DSCR loan which does not take into account my income.

For those who have experience using this type of loan. What are some things to look for when searching for these types of loans and where did you find the lenders you ended up using?

Thank you for your time in advanced. Looking forward to chatting!

Hello Bp,

Was looking to get into the Ohio Market to BRRRR, though I am not 100% set on an exact location, I would like to know if anyone was knowledgable in certain areas to look into.

Generally looking for C+ / B areas.

Any input will be appreciated.

Thanks BP!