All Forum Posts by: Jimmy Stainback

I have a quad-plex under contract that is stabilized. I have 20% down payment ready but I do not have any more conventional loans left. I am looking for a DSCR option or possibly a bridge loan. I have great credit and income. Any suggestions or referrals would be great.

Thanks!!

I have a quad-plex under contract that is stabilized. I have 20% down payment ready but I do not have any more conventional loans left. I am looking for a DSCR option or possibly a bridge loan. I have great credit and income. Any suggestions or referrals would be great.

Thanks!! 

I have a seller who has a $26k lien on a house. if he wants to do a sub 2 financing and let me take over the payments, is that going to trigger the lien holders ability to collect on the lien? 

I am helping seller in Georgia who has an auto lien on his home. I understand the stature of limitation is 7 years in Georgia. The lien judgement was 10 years ago.. what does that really mean? Does this mean when he sells his house, the lien cannot be enforced?

Hey everyone. I have used the BRRRR method on several projects in the past year and despite the market being hot, the properties aren't appraising for how much my comps, research, data proves they should so I ultimately end up leaving more money in the deal than I'd like to. My question is not how to add value to a property in order for it to appraise properly. Rather, when an appraisal comes in low, what do you do? Do you challenge the appraisal with your own sales comps? Do you have a different appraiser from the same lender come out to reassess? Do you start over with another lender? I have challenged an appraisal once and it worked in my favor. But seems odd to me that this has happened several times now. Is this an issue you all are facing? Is there a way I can avoid this in the future? Thanks in advance.

Lindsey Stainback

I have hit my maximum of 10 fannie freddie conventional conforming loans. I am in Roswell, Ga and I need to do a cash out refi on a project I have just finished. Does anyone have any ideas on the best way to continue to obtain reasonable long term financing? 

I’m a single family investor north of Atlanta, Ga. Over the last 7 years i’v acquired 14 doors over 9 properties by house hacking, BRRRing, owner occupant financing and some conventional investor loans. My portfolio is valued at 3.5 M and I have about 1.4 in equity. I’m ready to put this equity to work and jump into larger multifamily (10-40 units 1.5-3.5mil) in the southeast. Does anyone have any advice or direction that they would like to offer… At the very least I would love to chat with anyone who share their own experience of this transition. 
Thanks!! 
Jimmy