All Forum Posts by: Kirby Baxter

Conventional

@Jay Hurst Thank you. I was told that they would not fund under 100K at one place and 75K at the other. I will do some more digging and ask more questions.

Hey @Jay Hurst

I ask ask the loan prices were so low, that I could not get funding for them individually. Yes, I would need money for rehab at some point.

Thank you,

Kirby

Hey @Daniel Baccarini II

Those are great questions.

The price ranges from 65K-90K.

I would like to purchase 3 minimum. 

Time line for staying the portfolio loan would depend on the growth of the area (at least I think that I am think correctly. Please correct me if I am wrong. Stay in the portfolio loan until I could cash out refinance them individually. If that is possible with a portfolio loan.)

Please provide any direction as I am still learning and trying to be a sponge and get as much information as I can possible.

Thank you,

Kirby

Hey All,

I am seeking advice on Private Lenders that fund portfolio loans. I have spoken to my broker and the loan amount for several of the houses is lower than they fund. I am looking in an area that has started to get investor interest and have several homes that will need some TLC but are currently rented. My thoughts were to purchase more than one and as the renters move out, give the house some love and raise the rent or possible sell at some point depending the growth of the area. I have some money to put towards the down payment, but would like to use as little as possible as I know that I will have to put some in once the renters move out and pay the loan while doing so. Can anyone provide any insight? Am I looking in the wrong direction? Need to think about things differently?

Thank you for any advice!

Kirby

Did you end up using this company? I am considering using them and would like any feedback on your experience if you did.

Thank you,

Kirby

I am not necessarily on the fence with them. I am just getting into real estate and when I looked up DSCR loans they were one of the places. I applied and got pre-approved and things seem to be going smooth with them, just did no know if anyone had any experience with the company.

Thank you,

Kirby

@Nathan Gesner Thank you for the response. I have used the rental calculator and based off what I know it looks good. Could I DM you the information for more specific guidance?

I am trying to buy my first Rental Property and was wondering if anyone had ever used Beeline Loans?

Thank you!

@Kyle Momany I have not walked the property. I will tomorrow. I did get the taxes they are 240/year. Waiting to hear back on insurance.