All Forum Posts by: Kervin Simon

Thank you @Greg Scully  you right ! I knew there were options out there to invest passively but was unsure in what in particular I’ll keep that in mind.

Wow @Todd Dexheimer that is true and that’s what I needed to hear, because I’m still having issues with one of the rentals and did repairs on another. I know I would feel more comfortable making sure all rentals are producing along with having reserves before starting something new thank you. 

@Matt P. Your right on money with that  and thank you because I needed to hear it . I don’t like going forward when I know that’s lingering and I’m paying interest on it.

Thank you @Christopher Hunter Where there's a will, there's a way !

Thank you as well @Spencer Gray your absolutey right.  

Good Morning BP Family,

I wanted to pick the brain of my seasoned investors. I recently completed a refinance that I am grateful for because of the hurdles and it took longer time then expected. Now I am a little torn because I want to reinvest the funds for a multi-family, but my DTI ratio is high and I am working on cutting that down.

Should I hold onto the funds and get the DTI down prior to the next step or should I look into multi-family right now ?

The value of the property is 60k. I was looking for a 80% LTV I know most lenders don't loan out that low.@Tarik Turner

Hey BP family I have a quick question. I have a rental I own free and clear and I wanted to refinance to buy another property. I wanted to refinance with a hard money lender but the the amount of the rental was too low to qualify. Can anyone suggest a company the would refinance a rental under a LLC ?

@Adam Schooley Thanks for the clarification. Are there certain requirements for the private lender ?

Thank you Andrew I appreciate the response. So private money lenders and hard money lenders are not the same ? If not I did not know that I just learn something new wow. Also should I flip in my area or do what everyone is not doing and flip in other areas with better purchase prices ?

Hello BP family,

Happy to be officially part of the team. I have an issue at the moment I don't have a investor mentor just virtual mentors and through self education I manage to get my first rental with an FHA loan 2 years ago. I saved enough money to purchase once more but the lender said my DTI ratio is off with my first mortgage even though I told them its a rental. My end in mind is to have enough rentals to be financially free. I applied with a hard money lender but only got approved for 90k including rehab and I live in south Florida. The lender said I have to close it under an LLC which I created but would I be able to BRRRR if its under a LLC ? Would it be better off to flip and gain capital ?