All Forum Posts by: James ONeal

@Zachary Collins I agree. Even when it cash flows it still counts negatively against your DTI. We are looking to purchase a property in cash, then refi out of it in the name of the LLC. Of course we will have to use a commercial product which means slightly higher interest rate but since it is cashing flowing shouldn't be as much concern as our DTI when looking to purchase our next primary residence. Do you agree?

@Mark Puen wanted to bump this post and see if anyone in the room has actually used to HELOC strategy and how it is going so far?

@David Nacco how did the relocation go? Are you actively investing or flipping in Dalton, GA? 

@Abad Marroquin are you still active in the Dalton, Calhoun, and Ringgold GA markets? 

Rookie here,

Has anyone in the Indiana market found a great lender (local credit union or national bank) that is currently (as of 2021) willing to cash-out-refi on a investment property?

I have been having issues with it NOT being my primary residence or only being able to cash-out my lower of the purchase or appraisal amount.

Some people are able to get up to 80% LTV of the appraisal- and that's exactly what I am looking for.

I even considered a HELOC which seems to be even more difficult than a cash-out-refi.

Help!!!

Thanks in advance ~ James

@Will Rector how is the current market in Dalton, GA?

Hi everyone! Hopefully I can revive the conversation. Just closed on our 3rd property (4th door) and going to add another by the end of the month. Since this will put me at 5 I am very interested in a portfolio loan. Any advice? 
Thanks in advance! 

What is it that you need help with? 

@Tim Herman this is why I love this community and posted this here. Every first rehab has it’s horror story and I want to minimize mine but not at the cost of inaction. For my rental properties in normally account for 7-10% vacancy, maintenance, and capex but they weren’t rehabs so planning on something going wrong. Thanks for the feedback and I will make those updates!