All Forum Posts by: Ko Kashiwagi

Hi Manan,

Yes, financing for 5+ units would be a different program. Depending on whether you use a "light-doc" program or a "full-doc" program, rates will change. Was the financing you were looking for a conventional or a DSCR? Commercial properties are calculated in a similar way as 1-4 unit DSCR financing.

Hi Hillary,

The easiest would be to go to your bank that originated your first mortgage (assuming you have a loan on your property). Or, you can call your local credit union and they will likely either have an application to fill out or start asking you questions, and they should guide the whole process from there.

Hi Jon,

If the HELOC is already secured and the cash is liquid, you don't need to do do processing and origination activities as you would with a typical flip loan. In terms of other activities, you should make sure to line up the inspection, title, escrow and insurance company ahead of time. Appraisal is not necessary but you could do it if you want to order one. If you are buying a deal on the market, typically the agent will make sure everything is lining up for closing.

Bank statements showing the availability of funds from HELOC or a mortgage statement should suffice.

Hi Michael,

What kind of financing are you looking for - are you looking for a rental loan or a rehab loan? And yes, many lenders can't do loan amounts at those price range, but there are still options out there. I'm happy to help.

Hi Anthony,

Financing 100% of the deal is extremely difficult. There are low money down options for people without experience, but you'd usually need good credit.

Hi Dave,

If you are looking for an all-in-one solution, you'd need to look into paid services like Co-Star. For a lower budget or for free, it's best to gather and combine all the information. For instance, for school ratings, you'd look at greatschools.org, and for average days on market, you can use Rocket Homes. For free resources and data, websites like the, FRED, Statistica, YCharts, Trading Economics, and Local government or chamber of commerce are great places to start.

Hi Daniel,

The seller does not have to be in those scenarios to do a subject-to deal. In fact, relocation is a common reason for people to do a subject-to deal. You wouldn't put 20% down deals like this, but typically it's a common practice to put some cash in seller's hand depending on how much equity the seller already has.

Hi Scott,

How do you define "good"? In terms of crime rates? rental income? tenant laws?

Especially if you are not local, I'd look into all of the following:

1. Government report statistics - population growth, crime rates, ethnicity mix

2. Qualitative factors - new businesses coming in, types of industries

3. Talk with agents and investors - ask what they think of a specific area

4. Regulation & laws - tenant laws, eviction laws

5. Properties nearby - rent vs price, average rent in the area

Hi Tom,

Have you considered doing a purchase & rehab loan on the rehab property? You can leverage most of the purchase and rehab, which would allow you to still purchase both deals. This would essentially be a private/hard money which is often as strong as a cash offer.

Hi Nathaniel,

Facebook groups are great ways to connect with wholesalers. I'd search something along the lines of "[city] cash buyers", "[city] wholesale real estate", "[city] real estate investment", etc.

Investor friendly agents are also great ways to source deals.