All Forum Posts by: Jesse Rivera

@Jesse Rivera yes good idea but with only 3.5% down when I entered the deal 3 months ago there's just not enough equiity to interest any lender even DSCR. When I eventually get this conversion done that is my plan to get the ARV appraisal, refinance out of FHA and into a DSCR loan with my LLC/Trust owning the property and hopefully walking away with some funds for my next downpayment.

Then private money is your only option, Friends, family, etc.

Hey biggerpockets, can anybody help a brother out and write a 60k check?

0 Votes

Norfolk, Virginia

What would be your total LTV with the 60k? Might see if you can do a cash out DSCR.

0 Votes

Norfolk, Virginia

Love this business model. I used to do this in Portland OR, for flipping. Most investors will jump at the chance to do this.

0 Votes

Gilbert, Arizona

Welcome to Biggerpockets! You're at the right place to become a successful investor.

0 Votes

Denver, Colorado

If you have a good property manager:

DO NOT SELL!

DO NOT SELL!

DO NOT SELL!

DO NOT SELL!

1 Vote

Tacoma, Washington

Great info, thanks Felicia.

0 Votes

Los Angeles County, California

Quote from @Kwanza P.:

Anyone with experience (and/or referrals to lenders) with non-recourse loans? I live in California but am looking to invest in Texas, Alabama.

I have a couple lenders that can do non recourse. Message me and we can chat.

1 Vote

Dallas, Texas

Quote from @Erik Estrada:

Why do you need a non-recourse loan? They exist but they are mostly for commercial properties.

If you buy an investment property with your IRA, most require a non-recourse loan.

1 Vote

Dallas, Texas

I work with a credit union that does HELOCs nationally. Rates as low as 7.25, depending on credit score and LTV. Shoot me a message and will give you his contact info. I am only licensed in CA so cannot do it for you.

1 Vote

Houston, Texas

I have a couple insurance brokers that may be able to help. Message me and I'll send their contact info.

0 Votes

Los Angeles County, California

All Forum Posts by: Jesse Rivera

Jesse Rivera has started 25 posts and replied 460 times.

Post: Need funding for ADU conversion

Post: Need funding for ADU conversion

Post: New Partnership Model

Post: SFH & STR Rentals in Denver Metro

Post: Sell or keep income producing duplex

Post: Maximizing Investment Opportunities with SB-9 in Los Angeles

Post: Non Recourse Loan

Post: Non Recourse Loan

Post: HELOC to fund a rehab?

Post: Insurance advice for 6 unit apt complex in CA