All Forum Posts by: John O'Leary

@Mario E Gonzalez you don't need to use any income to qualify for financing on the investment side. Cash reserves is all you need.

Hi Mario,

Sounds like your ready to go! What's your specific business plan? We lend in all those states, and we have a large presence in the NC market with access to off market inventory. Happy to help anyway I can, or least get you going in the right direction. 

You would set up an LLC, and use Hard Money to acquire the property and do any value add. If you're buying turnkey I'd look at a DSCR loan as @Steven Goldman mentioned. I personally would look for value add opportunities so you can either pull cash back out when done with the repairs to keep the assembly line moving. If you don't BRRRR you have a nice low LTV which results in the best interest rate for your respective credit score. I'd be happy to hop on a call and discuss. GL!

Hi Janell,

Investing in real estate through a combination of flipping and building a portfolio can offer several benefits especially if you have 100K+ or more to invest assuming you build the assembly line correctly.Flipping can generate quick returns and is ideal for investors who are looking to make a fast profit. Flipping can also provide valuable experience and knowledge in the real estate market, which can be applied to future investments.

Building a real estate portfolio provides a steady stream of passive income and the potential for appreciation over time. A well-diversified portfolio can also provide a safety net during economic downturns, as real estate is less volatile compared to other investments such as stocks.

By combining flipping and portfolio building, you can take advantage of the quick returns offered by flipping while also building a stable and long-term source of wealth through their portfolio. This strategy can also offer diversification benefits, as flipping can provide a short-term source of income while the portfolio can provide long-term stability. Additionally, if you are using Private/Hard money as leverage, building your assembly line similar to what I outlined above allows you to bypass the BRRR strategy which is difficult in certain markets due to increased competition, high rates, and low inventory. It also will give you a lower interest rate on your DSCR financing due to keeping a lower LTV. Additionally, holding offers several tax benefits such as deductions for mortgage interest and depreciation. This can help to reduce the overall cost of ownership and increase returns.

It's difficult to find and get approved for a HELOC on an investment property because lenders usually see them as bearing higher risks than if you were getting one on your primary residence. As for Private/Hard money there are no real Lines of credit. You could refinance but you would need to pay off the 1st position Lien currently in place.

Hi D,

Just sent you a message.

Thanks @Kathie Russell @Gabe Soli feel free to reach out. 

A STR might be a good option. You can book the unit on platforms like Airbnb when you're not staying there. I'm a member of the Boardroom Mastermind and one of the largest STR operators got his start from a very similar situation. GL!

Hey William,

We are located in Orlando and are happy to assist. 

No Problem. Come see myself, and my firm at the local Raleigh NCREIA. We are a sponsor/vendor and are there every month. We are also hosting a lunch and learn via zoom this Thursday for the NCREIA if you are interested!