All Forum Posts by: Denise Carringer

Yes! Thank you! That's the kind of info I needed to hear :) No wonder my lender doesn't talk about it!

Thanks so much for the responses! Yes, I did mean 85% LTV, sorry about that. Our typical strategy is to purchase and renovate a property with cash (or Lines of Credit), stabilize it with good renters, then eventually refinance on a 30 year conventional for a more secure, long term investment hold. We have high personal income with no consumer debt, so conventional loans are typically more favorable and DTI hasn't been an issue. We don't want or need to grow larger than 10 investment properties since this is really just a side hobby and retirement security. I have a great lender locally that is a pleasure to work with, but ran into a situation recently that involved an unfavorable appraisal. We ended up having to leave more cash in the property than I wanted to. I heard the Bigger Pockets episode around the same time and thought it couldn't hurt to have a lender in my back pocket that could offer that option should the situation arise again.

I really do appreciate the replies and will reach out when the time comes to those who messaged me. Thanks!

Hello! I just listened to the latest episode of the BiggerPockets OG podcast where the guest was referencing conventional investment loans with a 15% LTV. Does anyone know where such a lender might be? Looking for long-term conventional refinance (potentially cash-out) for a SFH. DTI and Credit scores are excellent and the property has been owned for more than one year.

I realize that there is a "Find a Lender" function on this website, but I really don't want to be spammed with marketing emails. (If that's not how the Find a Lender functions works then I'm totally open to it.) Would prefer to hear from someone who just used a lender and had a good experience. Located in Tennessee but property is in AL. Thanks!

Seriously, thanks so much for your thoughtful replies. I appreciate you!

This is such great advice! Any particular companies you’d recommend? 

Hello! Working on an owner finance deal and I'm curious what technology you use to keep track of payments and amortization schedules. 

Thank you so much for these responses! I don't use Quickbooks right now, but I'm getting to the point that my google spreadsheets just aren't cutting it. Maybe I'll look into Quickbooks. Does it work well for both LTR and STR?

Hi! I'm looking for recommendations for the best mileage tracker. I've been trying MileIQ, but honestly, it's draining my battery and missing trips. Is that really my best option? Does anyone use a device that's connected to the car and not an app on their phone? Would love to hear your suggestions. Thanks!

Ashish, is the 50% measured strictly by mileage? For example, we just purchased a new Suburban and while I will use it for the majority of my personal use, I will also use it to drive to my business opportunities a few hours away (several times a month). When I total up miles driven, it won't be difficult to balance out 50% between personal and work. Does that count?