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All Forum Posts by: Keleisha Carter

Keleisha Carter has started 72 posts and replied 266 times.

Post: Gap Funding for Down Payment

Keleisha CarterPosted
  • Investor
  • Tampa
  • Posts 289
  • Votes 106

@Dave Skow I realize that is hard to find so now but I just got local credit union who will do 15%

Post: Gap Funding for Down Payment

Keleisha CarterPosted
  • Investor
  • Tampa
  • Posts 289
  • Votes 106

@Dave Skow Thank you for these suggestions Dave. Will definitely try to find a lender that does 15% most lenders only offer 20% when doing it in LLC

Post: Gap Funding for Down Payment

Keleisha CarterPosted
  • Investor
  • Tampa
  • Posts 289
  • Votes 106

@Andrew Postell Yes I am. We actually used BRRRR to fund our first Airbnb. which we figured out we can do again to raie capital. It's funny how somethings the answers are right infant of us that we are looking for

Post: Gap Funding for Down Payment

Keleisha CarterPosted
  • Investor
  • Tampa
  • Posts 289
  • Votes 106

Trying to get as creative as possible. Does anyone know any lender that offers gap funding solutions. My partner and I are trying to purchase another STR but we don't have enough money for the downpayment

Post: Second Home Loan Options

Keleisha CarterPosted
  • Investor
  • Tampa
  • Posts 289
  • Votes 106

Try Mortgageshop.co

Post: Financing Down Payment for STR

Keleisha CarterPosted
  • Investor
  • Tampa
  • Posts 289
  • Votes 106

@Don Konipol We definitely need to confirm how much equity  we have right now that we can use. Is this something you have more knowledge about? I would love to talk to you more about it

Post: Financing Down Payment for STR

Keleisha CarterPosted
  • Investor
  • Tampa
  • Posts 289
  • Votes 106
Quote from @John Underwood:

Go back to work and save for downpayment.

Get a partner who has money for downpayment.

Equity line against your house.

Find a seller that will owner financenthe downpayment in the form of a 2nd mortgage. 


 Thank you so much for suggestions John. We're actually making a list to find partners and research on banking to take a equity on the current house

Post: Financing Down Payment for STR

Keleisha CarterPosted
  • Investor
  • Tampa
  • Posts 289
  • Votes 106
Quote from @Alex Papai:

Document the heck out of everything.

CapEx

How you chose management

How you chose the property

Your thoughts about the property going in

How you furnished the place

How much it would've made long term

How much its making as a STR after stabilized

The laws that state what your doing is alright... because,

You're going to need at least 10% to do your next deal (unless you happen to move and free up your FHA again...) but probably more because 2nd home lending is very difficult now...

THE GOOD NEWS: you don't have to use your own money, talk to everyone about your success, post deals you find, talk to EVERYONE and build a buyers list out of ANYONE that says they're interested =]

Feel free to text me - love talking about STR's and have a similar problem to you own that I am just now overcoming for my second property.. it was not easy convincing people during the pandemic lol.

- Alex

 Alex, I sent you a PM, I would love to chat. 

Post: Financing Down Payment for STR

Keleisha CarterPosted
  • Investor
  • Tampa
  • Posts 289
  • Votes 106

Recently purchased a STR but unable to use the equity to purchase another one to help with the downpayment. Suggestions on how to raise capital for down payment to purchase another STR? Also, I no longer have a W2 income :(

Just purchased my first STR in March and looking to buy more. I'm interested in joining the group