All Forum Posts by: Jenna Lee

Hi, I have been passively learning about real estate investing, but have not really aggressively pursued it. Now, I feel like I have learned enough and want to really get into the game.... but I am currently staying home due to personal circumstances which is preventing me getting a traditional loan.

I have a house in Atlanta that I paid cash for and renting... I wanted to cash out refinance so I can purchase some more properties. (Positive cash flowing ones) and slowly build my portfolio, but I am currently not working nor have a business with 2 year track record where I can prove to a bank that I can pay the mortgage.

Does anyone know of any creative ways to finance properties? Any insights will be greatly appreciated. I have heard of companies that loan money based on Cashflow instead of your income. Can some folks recommend some of those companies? Or if you have other better options to share I would appreciate it so much!!

Hey Jenna

I read your thread's title and thought instantly, "She has a job, she's a real estate investor."

These loans do exist and although the rates and terms are higher than regular conventional rates and terms, they work very well for real estate investors that have decent credit, can't qualify for conventional for whatever reason and want to either take cash out or just keep their properties for cash flow.

Stephanie

Thank you Stephanie Yes!! Ive been doing a lot of research since I first posted this and found some lenders that are able to help me. YIPEEE!!!!!

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Originally posted by @Jason Hirko:

Originally posted by @Jenna Lee:

@Jason Hirko Jason, I’ve been interested in looking into Texas for potential investments, can u elaborate on which areas of Texas?? So I can start my research. Thank u so much

When it comes to buy and hold, I could make an argument for any area you name in Texas. Rio Grande Valley is a great play for low priced homes (you can get the 2% rule there and some speculative appreciation), between San Antonio and Austin is the fastest growing area of the country, Houston and Dallas have excellent $100k neighborhoods that are great passive 1% plays, the Permian Basin is blowing up right now, etc., etc.

Thanks Jason!!! I am going to have to really start doing research on Texas. :).

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@Jason Hirko Jason, I’ve been interested in looking into Texas for potential investments, can u elaborate on which areas of Texas?? So I can start my research. Thank u so much

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@Matthew McNeil thank u Matthew. I have digested all of the info you provided.... I’ll look into theme :)

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@Kenneth Garrett hi Kenneth!! Thank u for your response. Yes! I almost pulled my hair out and went bald last time i tried to get financing with a traditional lender for my primary residence..... I am trying to do as much research as I can about financing so I can fully leverage myself. I currently have 2 rentals but my goal is to be at 10 by end of 2019... seems like a very challenging goal but we will see.... sigh~~

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@Darius O'Neal if you can’t wholesale after this: I got nothing for you by Todd M. Flemming

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When I listen to podcast, they talk about how we should take advantage of low traditional, conventional mortgage rates....... so can u get this for a property in your LLC?? Also, if u did purchase a property using traditional lending, can u transfer that property to an LLC?? What are common ways investors finance their properties?

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Hey!!! thank you wow everyone on this forum are so helpful I am gaining very valuable information here.

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@Steven Pesavento In my state I was told that I am not allowed to charge a deposit and a rent, so I decided to charge a rent. $50/pet so I charge $100/month total......

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@Daniel Reyes, I have couple contractors that I have worked with in the past, maybe Ill check with them to see if they can do pricing for me with some cost.. thank you for the input.

@Kenneth Garrett, I am particularly interested in Atlanta area, but I live in Seattle.... Regardless I have gotten some notifications on property tours..... wasn't sure if they were scams or not so didn't pay much attention to them, but I'll check them out next time. Thank you for letting me know.

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All Forum Posts by: Jenna Lee

Jenna Lee has started 8 posts and replied 66 times.

Post: Cashout Refinance Options without a job

Post: Best state to Invest ???

Post: Best state to Invest ???

Post: Traditional lending, LLC

Post: Traditional lending, LLC

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Post: Traditional lending, LLC

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