All Forum Posts by: Israel Ruelas

Hello BP Team,

I'm seeking some guidance on a potential property purchase and would greatly appreciate your expertise. I've previously invested in single-family homes using conventional loans, but this deal is a bit more complex. It's a multifamily property consisting of:

• 1 Single-family home
• 1 Duplex
• 6 Single-wide mobile homes
• 1 Double-wide mobile home

Here's a breakdown of the financials:

• Asking Price: $600,000
• Monthly Taxes: $300
• Monthly Insurance: $350
• Management Fees $800
• Gross Monthly Rental Income: $8,050 (only one unit is vacant)

My primary challenge is understanding the loan options available for this type of mixed-property purchase. I'm unfamiliar with financing for properties that include both permanent structures and mobile homes.

From my forum research, a DSCR loan seems likely, but I'm unsure of the specifics. I've spoken with a DSCR broker who indicated that securing a DSCR loan for properties with more than four units typically requires significantly more effort and capital and are best suited for properties with 4 or less units.

Specifically, I'm looking for advice on:

• Potential loan types suitable for this property
• Lender recommendations.
• Any unique considerations or challenges associated with financing mobile homes in this context.
• Any advice on the due diligence when purchasing this type of property.

Any insights or guidance you can offer would be incredibly helpful. Thank you in advance for your time

Hello BP crew! My wife, Sheri and myself, Israel are a Husband/Wife team that have been working towards gaining financial freedom while working our full-time management roles. We began listening to podcasts and learning about ways to use real estate investing to change our lifestyle and became hooked. We bought our current home in 2016 and bought our first investment property in March of 2023. We took on a complete fixer upper and did 90% of the work ourselves and are looking to turn this into a STR. We have come to the realization that we are driven in the DIY space and would love more opportunities along those lines with our future properties.

We have come to the quick realization that in order to gain more knowledge and grow, we need opportunities to network with others who share similar interests. There is still so much that we don't know and have barely scratched the surface - having others to connect with would be invaluable. 

With the New Year swiftly approaching, we have shifted our focus towards tax season and how we can make the most beneficial decision. Unfortunately, this is not our strength and would love any feedback and recommendations you all might have in regards to a CPA that is local in the Sacramento area with a higher level of understanding investments and various tax strategies that could help us get ahead. Thank you all in advance!