All Forum Posts by: Kunal Mishra

@Bayleigh Jones Welcome to BP. This place will get you even more excited and goal oriented. 

In Which city did you start with your first investment and which other areas are you interested in.

Thanks

Hello All, 

Is it possible to receive a Line of Credit on an investment property that I currently own in New Jersey, it gives a positive cash flow. 

I do understand it needs to have some Equity in it, based is this something that I can opt for or I should look for a simple cash out refinance.

Thanks

@Darrin Carey You are the best, thanks for the insight. 

@Darrin Carey Thanks for the advise, but going for a commercial loan means I need to have a good turnover on my LLC company or the only downside which I am guessing is the extra points on the interest rate?

Will nobody care about the debt to income ratio at all for the commercial loan?

@Matthew McAlarney Yes I do declare my rental income on the returns so I can do that. 

@Edward Verdel I should be having some EQ, do you mean doing a cash-out-refinance and using that for down on other property. the issue is wont the bank at some point stop me from taking more loans when my Debt to Income ratio keeps going higher. 

Any portfolio Lenders in NJ that can help for long-Term Investment

Thanks

@Account Closed Do you cover only the Construction Cost or also the Purchase Price?

Hi @Joshua Den

No, the down payment is not an issue, also I don't think we can have more than one FHA loan at the same time.

I just want to know tell other means of financing so that I can grow my portfolio. 

Hello All,

I own two investment properties (each with two units) in Jersey City, both on a personal loan on my name. 

How can I start buying more properties and grow my portfolio , offcourse just on my income I cannot get loans on 10 properties not even if I include my wife's income. 

Hard Money Lenders are good for flips and will be very expensive.

Do I have to look for portfolio lenders in NJ, How much is the approximate interest rate that they charge.

Thanks

Kunal M.

Hello,

What do you mean by "Construction Room" for flips, did you mean Conntruction loan