All Forum Posts by: John O'Leary

Welcome Rob!!

Congrats on taking action and networking within the community! One key piece of advice is to make sure to build strong team around you. RE Agents/wholesalers, insurance agents, title companies, contractors, lenders etc. Also fully understand the refinance guidelines for any DSCR, or Traditional loan products you BRRRR into. Every lender has different criteria when it comes to seasoning periods, LTV limits, and DSCR requirements, so knowing those details upfront can help you structure your deals more effectively.

Looking forward to seeing how your BRRRR journey unfolds. Good Luck!

@Joe S. I resent the message, check your inbox. 

Yes, I'll shoot a DM. It's not bringing her up.

Hi Joe,
We’ve worked with several PadSplit investors to secure financing, and while these properties cash flow really really well, they do come with challenges—tenant turnover/issues and being the biggest ones.

One hurdle we've seen is that getting financing can be tricky since PadSplit rentals are still considered non-conforming by most lenders. Many traditional banks won't touch them, and even DSCR lenders will avoid them if the build out is done prior the securing long term debt. That said, we've been able to help investors secure creative financing solutions that work for this model.

If you decide to move forward, just make sure your financing strategy aligns with your long-term goals, and the properties are good fits for Padsplits model. 

Welcome to BP Tara, and congrats on taking action and joining a like minded community. 

@Tony Thomas @Shawn McCormick I'm in Orlando also. Always looking to connect with other local investors, realtors, etc. 

I haven't seen many value-add products, but there are solid options on the DSCR side. Maximum LTVs seem to be around 80%, with DSCR ratios typically needing to be around 1.20. Minimum loan amounts vary, but the product we work with most often starts at $500,000. I'll shoot you a DM

Hey Scott,

Welcome to BiggerPockets, and congrats on taking action toward building your real estate portfolio! It's awesome to see you channeling your sales and business skills into REI.Those strengths will definitely serve you well.

Building a solid team—from lenders and agents to property managers and mentors—is key to long-term success. Keep networking, learning, and most importantly, taking action when the right opportunities come up. Wishing you all the best on your journey—excited to see you grow!

Hey Robin,

Huge thanks for your service, and huge props for taking action in real estate! Love that you’re not just focused on building wealth but also on making a real impact for veterans—super inspiring.

Having a solid team around you is everything in multifamily, and being ready to jump on the right opportunity when it comes up is just as important. Sounds like you’re setting yourself up for success!

Wishing you the best on your journey—can’t wait to see you make moves

Hey Jorge!

Welcome to BP. I'm in Orlando, and wholesale property. What questions do you have? Shoot me a DM.