All Forum Posts by: David Robinson

@Jeffrey Dieudonne If your still considered full time, your income can still be used. Have you spoken with a lender or local bank yet, you can get a pre-approval to let you know your options.

@Craig Dieterich What area in South Carolina? Curious is there any upgrades you can do that would be a tax write off and help appreciate the value of the property?

@Michelle Paulsen The lender you are working with could add a co borrower, worth a try, depends if they are allowing any of your income to help with debt to income. The income and the debts of the co borrower will be a factor once added. Checking with other local banks can help too, being a government contractor do you have a credit union that you could talk to.

@Jeremy Morgan I think it could help you network and also see more potential investments. I thought about being a home inspector, and I also thought about the possible snakes in the crawl spaces here in Alabama, and the shaky extension ladders to the roof. If anything it will help you learn what to look for when estimating fix and flips.

@Geoffrey Giannone Some banks do loans for 30 yrs with an LLC and some don't. I work with multiple lenders that do refinance for LLC at 30 yrs. Not exactly sure about buying the property in your personal name and transfering to LLC, but I did read that some mortgage companies can request full payment if you do that, would love to hear the exact rules on this as well.

@Zach Warner Did you have a contractor do an estimate on repairs, the roof leak sounds serious. Is $125,000 the ARV or the amount of money needed to repair. Have you thought about house hacking it? Sounds like could be a good deal, you could always just go for it and learn from the process.

@Michelle Paulsen Do you have the ability to add a co borrower? Some banks may make an exception with work history and bank statements showing income and a larger down payment. I work with multiple lenders that dont look at income, they look at credit and the asset, its 20% down for a purchase and you will need to start an LLC, but it could help save the house, and then you will already have the LLC ready for the next investment deal. Connect with me and let me know how I can help.

@Greg Snell I work with multiple commercial lenders that can help. They offfer 30 year, credit,and asset based, so no DTI and 20% down, they also offer rehab loans and cash out refi options. Message me if you would like to connect and learn more.

@Zelda Chiu Would love to connect, I work with multiple commercial lneders that can help.

@Jason Appel There are multiple options you can do with no w2 income. Some lenders can look at bank statements to show income, and some local banks can too. I work with multiple commercial lenders that don't look at income, they look at credit,asset,and scenario. Rates will vary based on the loan amount,credit, and the scenario(cash out vs purchase). Lets connect and I will be glad to help.