All Forum Posts by: John B.

What lender do you recommend or have experience with? Potentially looking for an Ohio investment. From what Ive been hearing, mortgage brokers add onto the rate for commission and Id rather go directly to the source. 800 credit score and Very low DTI/high self employment income. (Used guaranteed rate for my primary home in 2014, they were ok).

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When is the average time period that a syndication will start paying you returns on your investment? Immediately, 12 months, 18 months etc.

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Nobody knows, everything Ive read is either people saying doomsday is coming or market will continue going up. 50/50. Only time will tell

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Phoenix, Arizona

Quote from @Jonathan Taylor:

@Joel O. this has been said above but Ill reiterate that using DSCR loans allow you to buy more properties without affecting your DTI. DSCR loans can close in your personal name or LLC.

A DSCR loan, aka lite doc or business purpose loans, uses the rents you receive on the property and divided by the new loan PITI to receive a ratio. Simple math would be a PITI of 1,000 and rents of 1500. That would be a debt service cover ratio of 1.5. Basically, this property cash flows. FICO, experience, and LTV are also factors but this is the basis of the loan. No need for tax returns, Verification of Employment, or income. I have been through this loan as an investor myself and originate these loans all the time.

What kind of rates are you seeing for small multifamily 5-10 unit?

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Quote from @Kevin Sobilo:

@Joel O. that only applies to conventional conforming loans not any kind of "portfolio loan".

For example, go to a local lender and they can lend to you using their own terms and loan products and because they are keeping those loans in their "portfolio" they can give you as many loans as they choose. They may have limits to the loans they wish to give to one person or LLC because they don't want all their eggs in one basket but then you just go to another local lender.

Dont those lenders usually have less favorable rates than the fannie mae loans? Thats why people say to try and get 10 if possible before portfolio.

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There used to be when i signed up circa 2019 and i read they discontinued it.

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Quote from @Andrew Geier:

I'm an agent/investor and for fun a Pediatric ICU nurse in the Cincinnati area.

If you have any questions let me know, I don't need to be your agent either to answer questions just happy to help if I can.

Hope everyone the best and much success here :)

Does the 1% rule still stand here?

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Cincinnati, Ohio

Wow, this is a good thread. The pants off pic above LOL

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Toledo, Ohio

If anyone would like to tell me about their market, OH or KS, etc. Please inbox me. Im looking to invest this year in multifamily but where I live doesnt make sense.

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Los Angeles County, California

Quote from @Chris Seveney:

@John B.

A fund which is not correlated to markets or interest rate hikes.

Do you have an example?

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All Forum Posts by: John B.

John B. has started 12 posts and replied 54 times.

Post: First 3-4 Unit Lender recommendation

Post: When is the average that cash flow payouts begins with syndication?

Post: Cash buyers do you think this year real estate will deflate or in the near future

Post: How do people have 10 properties in their own name?

Post: How do people have 10 properties in their own name?

Post: Is there a BiggerPockets App?

Post: Looking to connect with Multi Family Investors/ Realtors/ Wholesalers

Post: WARNING: Don't Use Ohio Cash Flow unless you want to lose thousands of dollars

Post: Out of state investor

Post: 100k+ to Invest, what would you do personally?