All Forum Posts by: Darvin Johnson

Hi BiggerPockets family,

I'm a Michigan investor and looking for a lender for long term financing and I was wondering if anyone has had any experiences with any of the following lenders or anyone else that they would highly recommend:

Aloha Capital

Lendinghome (now Kiavi)

Legacy Capital Finance

Assurance Financial

AccoLend

BRRRR Strategy (Investor Property Loan)

Thanks for any help. 

@Will Sifert - It definitely could have gone that way. But then I'd have had to add my city in as well haha. 

@Charlie Beneke - I really appreciate the info/breakdown. I was actually having a conversation about this recently regarding finding a neighborhood with it's own things to do so people won't have to only go downtown. I'll have to look more into what each neighborhood has to offer. Obviously the needs of short term snd long term will be slightly different but nowadays there's a lot more overlap than in the past. 

@Crystal Smith - Thank you for the suggestions. I think from what I typically here is North is better but deals are better South (for a reason).

@Jonathan Klemm - Yes, USN. Thank, I would appreciate that. I wish I'd have taken advantage of the opportunities available to me while I was active duty. But I'm sure we'd all be rich by now if we (fill in the blank) when we (fill in the blank). 

@Reid Chauvin - thanks for the heads up, I'll have to look more into that. I'm not opposed to keeping the units as LTR. 

@Jonathan Klemm - I'm definitely still looking at things in Detroit and the surrounding areas. Some of the difficult things for me lately and I'm sure everyone else is finding something that I consider a good deal. I was stationed in San Diego and recently speaking with a friend about the market out there, by comparison EVERYTHING here is a steal. 

Ideally I'd love to cashflow $200-300. 

Bigger Pockets Family,

I've been considering doing some distance multifamily investing in areas that I have either lived or frequently visit. I've been strongly considering Chicago and New Orleans as of late. Does anyone have any experience with both/either? I'm predominately looking for cashflow, small multifamily, under $500k. I know that in both areas it depends on the neighborhood and would appreciate any info on which neighborhoods in either city this would be possible. For either city I am open to long term rentals but would prefer if one unit could be used as a short term rental so that during my visits I can used it myself.

Happy 2022 Bigger Pockets Family,

Despite my income and credit score my DTI is currently to high for a conventional mortgage. I was wondering if anyone has any lender recommendations for permanent/long term rental purchases. I've seen Aloha Capital as well as Lending One in the network section of the site, has anyone had any experience with either?

The properties I'm currently considering are in Michigan, mostly turn key or with light rehab/value add, 1-4 units under $200k. I'd prefer 80% LTV as well as 30yr term. A major plus if the lender does blanket loans. I appreciate any info you all can provide. Have a successful 2022 everyone.

@Nels Lund are there any specific kinks you're thinking of?