All Forum Posts by: Katie Smith

Hi Lisa! What lender is the loan currently with? I may be able to help - sending you a DM

DSCR loans also allow real estate investors to secure financing based on property cash flow rather than personal income, which simplifies the application process! Keep in mind - they are only for investment properties, not primary residences.

You're absolutely right—Orlando is a fantastic market, and with the upcoming Universal Studios park opening, the growth potential looks even more promising. This surge in tourism and job creation makes now an ideal time to capitalize on the rising demand for both long- and short-term rentals. For clients interested in tapping into this, now is an ideal time to explore DSCR loans. These loans are tailored for investment properties and can help clients maximize cash flow without the typical income verification hurdles. Happy to connect & discuss how DSCR financing can support their goals!

Hi Lilach!

I wanted to follow along with this post. Most of my clients that invest in Jax are mainly doing fix and flips. I do have a few that have kept rentals - mostly near the hospital. Eager to hear what others have to say!

Hi Rosmery!

Welcome to the community! It’s inspiring to see your diverse background and passion for continuous learning. Your journey in real estate and entrepreneurship is impressive, and it’s great to connect with someone who values growth and collaboration.

I’m here to support your clients with any funding they might need for their projects. If you ever want to chat about ways we can work together, or if you’d like to connect with more women in real estate, I’d love to help foster those relationships.

Looking forward to getting to know you better and sharing insights along the way!

Hey there! It sounds like you've already got some solid experience under your belt. If you're feeling stuck, one tip that might help is connecting with wholesalers or local real estate agents who specialize in off-market properties in Huntsville. They often have deals that aren't on the MLS and can help you find something before the year ends. Networking at local real estate meetups is also great for building relationships with other investors who might know of deals. You might also want to consider expanding your search criteria a bit. Keep pushing, and you'll find the right deal!

Hi there! It sounds like you're in a great position with your investment property.
Another option you might want to consider is a cash-out refinance on the condo, especially since it's owned free and clear. With a DSCR (Debt Service Coverage Ratio) loan, you can tap into your equity and still retain the cash flow since it's based on the property's rental income rather than personal income. This can give you the flexibility to fund your flip without the restrictions of a HELOC. If you're open to exploring this route, feel free to reach out!

It sounds like you're off to a great start! For building a buyers list, I'd recommend joining local real estate investment groups, both in person and online. Networking is key, and places like Facebook groups, BiggerPockets, and REI meetups are perfect for finding active cash buyers. You can also reach out to wholesalers in your area—they often have established buyers lists.

For the contract, a typical timeline for a wholesale deal is 30 to 45 days. This should give you enough time to find a buyer and get everything squared away. Just ensure you're transparent with the seller about the process and keep communication open. 

Good luck, and it’s great that you’ve built such a solid rapport with the seller!

Hey Robin!

Starting an LLC before purchasing properties can be a great idea, especially if you're focusing on multifamily and buy-and-hold strategies. An LLC can help protect your personal assets by limiting liability, and it also allows you to establish business credit early, which can be useful as you scale your portfolio. Plus, having an LLC in place from the start can streamline the process of acquiring and managing properties under a business entity. It's something worth considering before your first purchase!

Hi Pete!

Welcome to the BP community! It’s never too late to join, and it sounds like you’re already on an exciting path with your multifamily opportunity.

If you ever need help with financing for future deals or any guidance along the way, feel free to reach out. I used to live in Bartow so i'm very familiar with Lakeland! Looking forward to hearing more about your journey!

Best of luck!