All Forum Posts by: Jesse Rodriguez

Hey all,

Was wondering if anyone in Milwaukee area knows of anyone who is willing to do showings and move in checklist for prospective tenants. I have a new empty unit that needs occupation. The agent and his team I use won’t be able to do this for me.

I appreciate any help.

Hello,

I recently did my first deal with them and it was bad experience. I won't do any business with them again. The way they operate is very shady. 

Quote from @Jay Hurst:

Quote from @Josh Meadows:

Hi,

My wife and I are currently shopping the market for a primary residence that we could add value to and then later cash out refinance as well as finding a lender to help us accomplish this. I have run into DTI issues in the past with lenders because they don't/won't work with stipend pay from the government even though it's signed by both parties in an agreed upon contract for an agreed upon time. For example... Let's say I am paid a net of $2068 weekly. My pay stub would reflect that I am paid $28 an hour for 36 hours for a taxable gross of $1008. The other untaxed portion on my pay stub given by the government (according to the GSA.GOV website) for a meals and housing stipend equal out to $1060. Do you guys happen to know of any lenders that work with this type of mixed stipend/taxable income?

Thanks,

Josh Meadows RN

 @Josh Meadows   How long have you been receiving the housing stipend? For a conventional loan you have to be able to show that you have received it for at least 12 months, and show the likely continuance for 3 more years.  

Fannie Mae housing allowance requirements.

 Hey Jay,

I am in situation where I can get only approved so much because FHA and convetional wont accept my stipends as income. Is there anything else I can do?

Thanks

@Josh Meadows Hey Josh, I’m in this exact dilemma right now and it’s a real bummer. Any update with your situation, I would love to hear it. Thanks!

@Hunter Janes Seller finance man

@Jackson Halverson Reading and podcasts are great but the best way to learn is to do! You won’t be perfect, you won’t do everything right, you won’t know everything but you’ll gain way more by doing versus reading, etc. I had to tell myself to get off the books, stop being scared and just go for it. You’ll learn along the way and you’ll have support from others like agents, lenders, etc. Just ask alot of questions, im sure they’ll be happy to answer.

@Marianne Lopez-Henthorn Yes people are still buying like me. Due to current market conditions, I won’t stop buying just changing my strategy and pivoting (Like you mentioned earlier). Creative finance, in my opinion, is one the best strategies to use right now for many reasons!

@Daniel Cerda DSCR lenders typically don't lend lower than 75k

@Will Fraser Hey Will, nice to meet you. Thanks for that friendly reminder, you’re spot on with it. Can you tell me more about your PM and brokerage, I’ll likely need your resources!

@Jimmy Ogle Hey Jimmy, thanks for reaching out. I’d love to connect with you and hopefully build something. I’ll appreciate any help :)