All Forum Posts by: Esther Tama

 I want to buy cash and the refinance after 

Hey Eileen! Definitely! Where are your investments? I’ll message you 

I'm a newbie OOS investor, just closed on my first SFH investment property in Muncie, IN (Westside). The home was turn key and was able to rent out for $1100 within 1 week of being out for rent. The cash flow will be about $380 after all expenses, incl PM. Not bad.

But not awesome. 

BP podcast and blogs says the first one is not supposed to be a home run, but the one they gets the momentum going. I guess it’s kind of like your first relationship - rarely is it a home run (haha).  

My goal for my first was to learn and make connections/build relationships.

Found a decent PM that manages many properties. I didn’t like my RE, so I found a different one that was more experienced with investors. My lender was super conventional and rigid, and need more options. Everyone I inquire about construction crew, people refer to them like unicorns… evasive and mystical. I’ve yet to gain respect as a newbie investor. Kind of like when you’re 18 applying for credit - it says you need credit history to get credit, but you can’t get history without credit. Wah? 

I think overall, I learned to ask better questions. 

 But now I’m stuck.

I've got the RE bug, but need lenders and financing options that will allow me to grow my portfolio 2-4 properties a year. I don't want to stop at 1 a year. I want to purchase with cash, but be able to refinance most of my initial investment back out to recycle the $$$ to purchase more. But my DTI is too high with my primary residence and now another property under my name.

My next step is to call all credit unions in the Indiana/Muncie area. I’ve reached out to two portfolio lenders. I’ve connected with my own credit union for more financing options. I’m even considering seller financing.

I’m looking to also search meet-ups for OOS investors in the Muncie area. I like this area compared to Indianapolis because it’s a smaller radius and I have a good pulse of the neighborhoods. It’s like a mid-town/small town feel and I appreciate that, esp being from SoCal. 

Anyone who has solid advice, connections, similar journey or perhaps want to join a virtual meet with like-minded investors are welcome to connect. 

To grow or not to grow is NOT the question. But how. 

Thank you for reading. Invest on!  

Dentric, are you still an broker out of Muncie?