All Forum Posts by: DeWitt Gibson

Looking forward to seeing everyone! 

One of the things I am hoping for is to learn what everyone is most interested in (real estate investing wise) so that we can plan topics and speakers moving forward. Does once a month sound like a good frequency? 

My top interest is Residential Real Estate both for long term rentals and short term vacation rentals. I would also like to learn more about commercial, but I don't have any commercial experience myself. 

What other topics are folks hoping to learn about? 

If it was near Garden of the Gods I would. That would be a great place for one : ) 

And they would have to be well-winterized... cause it gets cold there.... 

Private Money Investor Loans Available for Arizona and Colorado Single Family Properties

NO Personal Income Requirement

NO Employment Requirement

NO DTI

NO Tax Returns Required

NO Residual Income

First Time Investors OK

Closing in an LLC Fine

No Maximum Financed Properties Overall (5 max with this lender)

Single Family / Townhome / PUD / Warrantable Condos OK

Competitive Rates

Minimum Debt Service Coverage Ratio = 0.75

DSCR = Monthly Rent / Total Monthly PITIA (Principal + Interest + Taxes + Insurance + Association dues)

$100,00 up to $1,500,000 Loan Amount (maximum $500,000 cash out)

80% Max LTV Purchase (65% for "Unleased Properties" or "Vacation Rentals")

75% Max LTV Refinance

Full Appraisal Required

3 months+ of Asset Reserves Required

Credit Report Required with Minimum FICO 660 with no Bankruptcies or Foreclosures in previous 48 months – 1 30 day late over last 12 months OK.

Must have a last 12 month Mortgage History (either Primary Residence Mortgage or Another Investment Mortgage + Verification of Rent for your Primary)

Direct Message Me for More Information

Back in the pre-COVID days, my friend Wren Martin (who is a General Contractor and Professional Real Estate Investor) and myself held monthly in-person real estate investor meet-ups. We had investors, lenders, real estate agents, and all kinds of folks show up to network and share ideas about real estate investing of all kinds. Several deals were done among members and friendships were made. Unfortunately, COVID stopped the meetings early last year.

We are ready to kick off the meet-ups again!

Please join us at 890 W Elliot Rd Suite 110, Gilbert, AZ 85233 on Thursday, May 13 at 7pm – 9pm - Expect an informal meet and greet, introductions, networking, and idea sharing on how to kick this group back in gear again and profit from real estate investing! This is an in-person meeting only and will not be broadcast or recorded anywhere. This group isn't about "selling" anything, it's about making connections with like minded people who can help you meet you real estate investing goals and sharing ideas. 

No RSVP needed, please just show up and join us. Feel free to invite others who you think will be interested. Look forward to seeing you there!

Direct Message me with any questions. 

DeWitt 

Are You Looking to Buy Residential Investment Properties, but don't have W2 Income? 

Our Investor Advantage Program may be a solution for you (Licensed in AZ and CO only) 

Investor Advantage Program

Qualify using property cash flow

The new Investor Advantage Program, which doesn’t require personal income for qualifying, could be the competitive edge you need. First-time investors are allowed, and there’s no cap on the number of investment properties the borrower can own (max five with us). Only three years of seasoning is required on foreclosure, short sale, bankruptcy, or deed-in-lieu.

No employment or income documentation required. The borrower only needs to have a Debt Coverage Ratio (DCR) greater than or equal to .75.

• Income qualification using property cash flow
• Loan amounts to $1.5M
• No DTI restrictions
• Up to 80% LTV
• Loan amounts up to $1.5M
• Cash-out up to $500K

• 30yr Fixed
• 5/1, 7/1, 10/1 ARM & IO ARM

Eligible Property Types: One Unit Single Family Residences (Attached and Detached), PUDs (Attached and Detached), Condos (Low and High Rise), Site Condo, Townhouse, 2-4 Unit Properties, Modular Homes

Please reply to this post or send me a direct message for a quote customized to your situation (only available in Arizona and Colorado)

I live in the Ocotillo area of Chandler (near Intel) and have since 2003. My house value (according to Zillow, etc.) has risen 5% since this announcement :) 

@Jerel Ehlert

I am looking to buy/fix/hold residential properties that are difficult to finance. Such as Residential Assisted Living and Short-Term Vacation Rentals. A fund does sound like the way to go. 

@Jillian Sidoti that does sound like the way to go! Thanks!

The Carrington Investor Advantage Program

Qualifiy using property cash flow

Carrington’s new Investor Advantage Program, which doesn’t require personal income for qualifying, could be the competitive edge you need . First-time investors are allowed, and there’s no cap on the number of investment properties the borrower can own (max five with CMS). Only three years of seasoning is required on foreclosure, short sale, bankruptcy, or deed-in-lieu.

No employment or income documentation required. The borrower only needs to have a Debt Coverage Ratio (DCR) greater than or equal to .75.

@Jesse Flores This is the product I recommend for my borrowers in your situation: https://www.carringtonwholesale.com/loan-products/