All Forum Posts by: Joshua Ricker

Welcome to BP!

Everyone above make great points, you cant go wrong if you follow a strict business plan of the strategy you choose.  Every resource regarding real estate is on this site ha.  

When you are ready to make that jump to your second property let me know, we can sit down and dig in and find some properties that make sense for you.

Whenever a local meet pops up that I know of I don't mind sending it your way as well, lets connect.

I would highly suggest to make sure you get more then one person to check it over to make sure that is all that is wrong.  Had an instance where one person saw one issue and stated it was X amount to fix and another saw the same but even more issues that was triple to fix.  Just want to make sure you have eyes on the whole true issue.  

If it is just $5k and you are comfortable to move forward and fix it as long has you have the receipt that it was fixed by a licensed professional then there should not be an issue with selling the place if any one asks.

Is this property a AS IS sell?

I added some more details that I should have in the first post. This was a compare on a client of mine so the same info was used for both sides. At that point it seems a DSCR is a no brainer.

The other day I received a call from my lender stating she was doing side by side comparisons of a conventional to DSCR loan. For the first time I have heard the DSCR loan had a better rate with lower points than the conventional loan.

For reference the DSCR loan Rate: 8.5% 2 origination points

                             Conventional Rate: 9.5% 3 origination points

Is anyone else seeing this where they are at?  This was used to compared on a client of mine so its using the same info for both just an FYI

 Thanks! For sure will do that.

Hello @Niecy Smith

I am a realtor here in the Richmond area, I would love to help you begin the journey into real estate investing.  Lets connect!

Hey @Alexa Ghyzel welcome to BP!  

I have an investor friendly lender that has access to everything, also an investor as well that loves creative financing.  I could pass along her info if you would like.

When it comes to Real Estate agents make sure they understand how to crunch numbers so they know what you are looking for.  Not necessarily say they should be crunching numbers for you but if they understand how they can send you properties that make the most sense based on your goals.

This community you have enough knowledge to go around to learn everything you need to know.  I wish you the best and a warm welcome again. 

Hey @Morgan P. Welcome to BP, I know this is an older post but I am curious if you ended up getting the help needed to start your journey?  I am a local realtor that would love to connect.

Thanks

 Hey Rene!

I know this post is older but I would love to connect and see what we could do.

Thanks