All Forum Posts by: Chris McCoy

Hey Ivan,

Small world! I actually have a rental property in Winchester, VA and was living there until about a month ago. Now I live in Richmond, but plan to keep investing in Winchester. If you ever have questions about Winchester and the housing market there let me know. I'm pretty new to REI, but I am more than happy to share what I have learned so far.

Thank you for the warm welcome!

Troy, I found the site and that is exactly what I am looking for. Once I make it to a meeting I will talk with Moe. Thanks and maybe I will see you around!

Thank you both for the information. I am a Retail Analyst for a bank in VA. I do not work much with the mortgage side, but I do know we have pretty standard lending policies.

I will check with a couple of community banks and go from there. It seems developing strong relationships with a bank can add a little wiggle room.

Thanks again for the help!

Hello everyone,

I must say this site has an amazing amount of information and support and it is wonderful. I was born in raised in VA and have lived in the Shenandoah Valley, Winchester area, and now I reside in Richmond. I am kind of new to Real Estate investing, but not investing. I started investing in the stock market about 4 years ago and am majoring in Finance.

I am curious if any investors out there keep Excel spreadsheets on their properties or if their would be interest in having someone keep detailed information on their investments?

I am a Retail Analyst for Virginia's largest community bank (roughly $4bln) and really enjoy keeping track of data and analyzing it. I am just interested to see if I could provide some form of service that revolves around this skillset.

Good luck to everyone on their REI journey!

Chris M.

Hello everyone,

A business partner and I are looking at options for financing an investment property. We know the 20% down is pretty standard and great credit scores help. We can both meet those requirements. The issue we are concerned with is DTI. One bank has told us that 40% is maximum and they will not count rental income unless we have two years of tax returns to show for it. Is this standard across most banks or is this just this bank's policy?

Can anyone recommend a good bank with less strict guidelines? Credit unions and local banks maybe? We are in the northern part of VA so if anyone is local I would love to chat! We also each already have a rental property and decided we can do much better if we work together as our skill sets are different.

Thanks for any help and I would be glad to provide more information as needed.

Chris M.