All Forum Posts by: Eddie Lozada
Eddie Lozada has started 5 posts and replied 14 times.
Post: Turnkey properties in these states!
- Los Angeles
- Posts 15
- Votes 7
Originally posted by @Trevor Fleck:
@Eddie Lozada check out Rent to Retirement. I've invested in 6 properties and counting with them. They are in Pennsylvania for sure and I believe South Carolina. Happy to chat more about my experiences if you'd like.
Hey Trevor,
I am actually in the process of trying to get some properties from them but would love to hear about your experiences so far. I will send you a PM.
Thanks!
Post: Turnkey properties in these states!
- Los Angeles
- Posts 15
- Votes 7
Originally posted by @Steven Goldman:
Where in Pennsylvania East or West?
I have not researched PA, yet. I am open to your suggestions.
Post: Turnkey properties in these states!
- Los Angeles
- Posts 15
- Votes 7
Originally posted by @R.J. Lange:
I would be interested in connecting for the Washington team position for both purchasing agent and professional property management.
Absolutely lets connect!
Post: Turnkey properties in these states!
- Los Angeles
- Posts 15
- Votes 7
Happy Thursday everyone!
I have made some promising contacts since posting my last couple posts. Thanks again to everyone who is reaching out I feel confident that I will be able to move forward with at least one of the contacts made since my initial denial.
NEXT QUESTION!
One of the turn key companies that I found through bigger pockets doesn't have properties available in the areas that this new company I working with could potentially set me up for. My biggest focus right now is passive income. I want a good turn key property that can be set up with a management company and I would like to repeat this process at least two or three times this year.
Does ANYONE know of a company (or agent that is experienced) in turn key rentals in the following states!?!?!
Colorado, Montana, North Carolina, Pennsylvania, South Carolina, Tennessee, Washington
If so, please reach out! Price point is $150k and below. Any suggestions or insights are appreciated!
Cheers,
Eddie
Post: Real Estate Investor friendly CPA knows about CA Tax Laws etc.
- Los Angeles
- Posts 15
- Votes 7
Originally posted by @Natalie Kolodij:
Thank you, Natalie!
Post: Real Estate Investor friendly CPA knows about CA Tax Laws etc.
- Los Angeles
- Posts 15
- Votes 7
Hello everyone, good morning!
Some of you have seen my last post regarding the debt-income issue that I am having in getting approved. Many of you have reached out in the comments or by messaging me. Thank you to all of you who have taken the time to respond.
NEXT QUESTION! I am looking for a CPA (I do not mind if they are not based in California, HOWEVER they must be knowledgable of CA Tax LAW) and would love to know if anyone has any recommendations. I own a business I take home a W2 plus owner draws and the business is split 3 ways so I hold a 33.4% share in the business.
Any insight helps and is greatly appreciated!
Best,
Eddie
Originally posted by @Brandon Plombon:
Once you find a property find a local bank near the property and see if they will do it vs finding one near you and asking them to lend across the county. Incorporating at this point doesn't matter if can be done later on and shouldn't affect anything as far as lending goes.
Fantastic I will get right one it. Last question. If I find a property in your neck of the woods, would this be something you could possibly do?
Originally posted by @Brandon Plombon:
Originally posted by @Eddie Lozada:
Originally posted by @Brandon Plombon:
@Eddie Lozada What are your goals? What are you trying to achieve? Are you trying to move primary houses or purchase a new rental property? A DSCR loan would work but I'm going to go out on a limb here and say 20% down on LA real estate is probably going to be an issue if DTI is already an issue with FHA.
Hey Brandon and thank you for reaching out. I want to purchase rental property. I do not plan to purchase in Los Angeles, though. I would like to purchase for 200k or lower, perhaps in other states.
Got it! DSCR or commercial would be the route to go. The rates will typically be higher than the residential mortgages and will require a minimum of 20% down but that should solve your DTI issues, assuming you can find a local bank/credit union.
Thank you so much for that information. Based on the last comment I assume that only local banks/credit unions will be able/willing to do this type of loan? Should I do this by incorporating first? Thanks!
Originally posted by @Brandon Plombon:
@Eddie Lozada What are your goals? What are you trying to achieve? Are you trying to move primary houses or purchase a new rental property? A DSCR loan would work but I'm going to go out on a limb here and say 20% down on LA real estate is probably going to be an issue if DTI is already an issue with FHA.
Hey Brandon and thank you for reaching out. I want to purchase rental property. I do not plan to purchase in Los Angeles, though. I would like to purchase for 200k or lower, perhaps in other states.
Originally posted by @Account Closed:
The only option you have is to use a No-Ratio or DSCR loan. Look into them
I will do that, thank you!