All Forum Posts by: Derek Brickley

Exactly as Matthew said!  Location is the one thing you cannot change about a property, so finding one in an area that works for you and will help meet your goals is huge.  It's good that you are looking forward so much, I'd just say take them one at a time and once you figure out the first the rest will fall in place!

Hey Chrissy! Would need to know a bit more about the property and your situation, but there are options with a DSCR loan with no value seasoning.

Hey Brian!  Happy to connect

Hi Alex!

When using a DSCR loan, the property is more often than not held in an LLC! Most DSCR lenders should be able to.

Hi Sean!  There are some circumstances with 0 value seasoning, but definitely would need to know more about the situation to see if we could possibly help.

I normally use the app, but you can access it on a desktop.  I'm not sure how accessible it is from that aspect though.

I was incredibly saddened... if anything they should have integrated Credit Karma into Mint not the other way around.  With that said, I switched to Nerd Wallet.  Not exactly the same, but I have found it to be similar enough for my liking.

Hi there!

Yep definitely not a good idea to have two in process for the same property.  Depending on the lenders, there is a chance that the investor on the back end could notify the lenders that there are two open files for the same property in which case you would have some explaining to do.  

For shopping price, feel free to show lenders your Loan Estimate and see if what they offer compares.  Note that you may need to submit documents to them, but do not sign another loan estimate/intent to proceed unless you plan on switching, in which case you need to notify the other lender ASAP.

Although not househacking in Chicago, I think the principal is similar.  If what you pay to live there is equivalent to or less than what you would be renting for, it is definitely a win.  Work on narrowing down an area and strategy in the meantime too that can maximize your investment.  Getting out of college, one benefit is you can close on your househack before you start your job.  All you would need is a full-time offer letter.

Definitely agree with Glen, focus on your strategy and narrow down the final details.  Although you can't actually get into the property yet, you should know exactly what you will be doing when you can.