All Forum Posts by: Darrin Carey

@Felipe Stefanoni
Banks, and all lenders, have various loan minimums and requirements. They all vary by lender. Loans under a 50k have very few options. Over 75k opens up more possibilities, and over 100k has lots of options. You can also blanket several properties under one loan to make it more attractive to the bank.

Basically, it costs the lender the same amount of money to originate a 30k loan as a 100k loan. And they don't make any money on a 30k loan.

I did 8 properties like you described under a blanket mortgage, and had no trouble getting them financed. If it had been one property, the same bank would have said "No".

Hi @Trey Guy Congrats on getting started. Good to see more young investors in the area.

Independence Property Management out of Springboro does a good job managing mine.
@Christopher Sineno is the POC.

@Tyler Caglia

Well written post, it'll help a lot of people.

It's good working with you, glad we've been able to help.

Thanks @Jeshua Patrick
@Bryon Blake The normal meetup is about 70 people. It's a good place to make local connections in person. Obviously, there are a lot of investors, but there are also contractors, agents, property managers, Title Co, Attorney, Insurance all in there.

Details are posted here on BP at https://www.biggerpockets.com/forums/521/topics/807491-dayton-rei-meetup-mar-2020

Come join Dayton area Real Estate Investors for food, fun and beverages. Build your network and meet other Dayton investors. This is a networking event to make connections, share knowledge, experiences, strategies, and have a little fun while we're at it.

We promote teamwork with your peers to help everyone succeed.

Here you can learn something, find a deal, sell a deal, or find that agent or contractor you're looking for.

Oh, you should expect 60-70 people to be there. The event says it ends at 8pm, however, some of the real estate addicts stick around and close down the restaurant.

@Lindsay Plasencio Glad to help. The meetup is the 2nd Monday every month, same location.

Most rehab properties won't meet the standard VA/FHA inspection requirements, which essentially want a property "move-in ready"; no peeling, etc. Their rehab programs will allow certain things, but as you've found, they come with higher costs and overhead.

The Dayton REI meetup has a bunch of vets that have used VA financing, for properties that have become rentals. You may able to find some help there. Otherwise you'll need to find a good lender/broker who know the ins and outs of the various programs. I know one guy who may be able to help with that. I know he's worked with many of the programs.

Here's a link to the meetup.

https://www.biggerpockets.com/forums/521/topics/790922-dayton-rei-meetup-feb-2020

@Jose Diaz, They are always the second Monday of the month. February is on the 10th. All other details are the same. 

I look forward to meeting you there.

Come join Dayton area Real Estate investors for food, fun and beverages. Build your network and meet other Dayton investors. This is a networking event to make connections, share knowledge, experiences, strategies, and have a little fun while we're at it. We promote teamwork with your peers to help everyone succeed.

Here you can learn something, find a deal, sell a deal, or find that agent or contractor you're looking for.

Join us: T.J. Chumps in Fairborn, OH, right off interstate 675. We'll be in the private room on the left past the hostess station.

Oh, you should expect 60-70 people to be there. The event says it ends at 8pm, however, some of the real estate addicts stick around and close down the restaurant.