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All Forum Posts by: Iris Olivas

Iris Olivas has started 5 posts and replied 17 times.

Post: Does anyone do a DSCR loan for a single property under $100K?

Iris OlivasPosted
  • Homeowner
  • Montana
  • Posts 17
  • Votes 13

Thanks for your response @Michael Wentzel!

Post: Does anyone do a DSCR loan for a single property under $100K?

Iris OlivasPosted
  • Homeowner
  • Montana
  • Posts 17
  • Votes 13

Hello!

I am wondering if anyone out there knows or does DSCR loans for a single property selling for under $100K? I have my eye on two properties. One is a 4-plex for $165K with good cashflow (CoC ~16%). There is another property that looks very good too, selling for $85K, turnkey, that would be about 16-18% CoC. I would love to be able to bundle them into 1 loan, but have not found a lender who can loan on a single property under $100k, even when bundled with the other one. Does anyone have any leads or insight on how I might be able to acquire both properties? I have enough down payment and can get a DSCR for the 4 plex, but would not be able to swing the other, even by itself. Thanks for your help!

Post: Anyone doing or wanting to do out of state investing?

Iris OlivasPosted
  • Homeowner
  • Montana
  • Posts 17
  • Votes 13

Hi!  I am starting to look into out of state investing, but I was looking to see what other people's experiences have been.  So Slim, how did you decide what state to buy in and did you visit or purchase site unseen? It looks to me like there are a lot of good deals out there...

Post: Has anybody here used Plastiq and what was your experience with it?

Iris OlivasPosted
  • Homeowner
  • Montana
  • Posts 17
  • Votes 13

Hello!

I am new to investing and would love your opinion and experience with using Plastiq.  I just secured funding through several lines of business credit and personal credit to purchase a rental property (o% interest for 12-18 months!).  I was approved for much more credit than I ever thought I could get and so now I am considering the purchase of a second turn key rental property.  My plan is to use Plastiq to turn those credit lines into liquid cash to make the purchase.  I am a little hesitant because I don't quite know enough about it just yet and am looking for any input anyone can give me.

Thanks in advance!

Iris

Post: Should I move my rental to an LLC?

Iris OlivasPosted
  • Homeowner
  • Montana
  • Posts 17
  • Votes 13

Thanks for the post; that is very helpful and informative! I live and will operate my business in Montana. It is very inexpensive to form an LLC here. I decided to go that route to keep my business and personal affairs separate.

Post: Should I move my rental to an LLC?

Iris OlivasPosted
  • Homeowner
  • Montana
  • Posts 17
  • Votes 13

Thank you everyone for your responses!  I appreciate your thoughts and help!

:) Iris

Post: Should I move my rental to an LLC?

Iris OlivasPosted
  • Homeowner
  • Montana
  • Posts 17
  • Votes 13

I am a first time investor and I am wondering about moving my soon-to-be rental property into an LLC. Is this a good idea, why or why not? I filed for an LLC along with my application for a business line of credit. I guess I just feel weird about having my new investment property under my business name instead of my own name. I plan on closing with the title company under the LLC name, instead of my own and then moving it later.


Thanks for your help; I apologize if this is a silly question!