All Forum Posts by: Diane Jacob

@Min Zhang Thank you. That will be great.

@Connor Hibbs Thanks for the feedback. What are qualification requirements for a DSCR loan?

@Malcomb Stapel Ok, will do.

Hi @Anderson S. Thank you. I will consider the hard money lenders as well. I will reach out if I have questions in the near future.

Thanks @Milton Chamberlain Definitely will reach out to her and see what she say. 

Thank you, @Sean MacDonald I appreciate the feedback. I will look into community banks and credit unions. Are there any that you recommend?

@Dustin Tucker 

Thank you! I really appreciate the advice you provided. I’ll definitely be taking tenant laws into consideration. I was also looking at properties in Springfield, MO as well. Yes, you are right, the Midwest has great opportunities. Thanks for clarifying the details about the minimum loan size. I would love to connect in the near future.

Hello BP Community,

My name is Diane, and I'm just starting my journey as a real estate investor. I currently live in the Midwest and, due to circumstances, house hacking is not an option for me. I'm working on building my down payment including repairs fund and have a good credit score above 750.

I’m interested in buying a property near Kansas City, in markets like Topeka or Springfield, IL, but I’m open to other cities in the Midwest. I’ve noticed that most local lenders offer loans starting at $75K and above. I’m seeking advice on how to fund properties typically priced at $66K or below, as well as properties around $100K or under.

I've been looking into the BRRR method and Section 8 as potential strategies. Right now, my main challenges are finding funding options as a starting investor and analyzing deals effectively.

Any advice on starting out, funding options, and thoughts on different markets would be greatly appreciated! I’m eager to learn from this community and hear your experiences.

Thank you!

Best,
Diane