All Forum Posts by: LaShelle S.

Making an investor portfolio sounds like a wise move. I think that's a great idea especially  since it would be my first meeting. 

Occupying a 2-4 unit seems like it would be my best option to reduce my down payment. I have access to my VA loan which would be 0% down and that is a fantastic down payment. And I've already used it once and paid it off.

Hi everyone,

I would like to meet with the mortgage lender at several banks to make sure I'm prepared when I find a property. I want to ask exactly what are my mortgage options for financing a mult unit , the qualifications for each (credit score, income, debt income ratio etc) and what paperwork do I need to bring for a pre-approval. I basically want to be prepared to put in a strong offer with a pre approval as soon as I find a property. What other questions should I ask or what should I bring? My credit score is in the mid 700s and I have almost 40k saved. I've used my VA loan before and sold that house. I won't be owner occupying yet so that's not an option again yet. Thank you

I'm looking for 2-4 unit properties. I figure I can use conventional mortgage loans for the first one or few and eventually use my VA loan when I'm ready to move into one as a my primary residence. I currently own my home so don't want to use my VA loan yet.

Thank you for your advice. I never thought about going to a meeting in whatever city I'm in for the night. That's a great suggestion. 

Hi everyone,

I just moved to TN and am interested in multi family rentals. I'm looking to connect with other investors from the Jackson and/or Humboldt area on here because I drive trucks and making REI meetings is fairly difficult for me. It does give me a lot of time to listen to all the BP podcasts tho! I'm learning to run numbers, what kind of team to have and deciding if I want to self manage or not so any tips, advice or pointing in the right direction is welcome! Thanks all!

Thanks Drew. I've been comparing community banks and national banks and credit unions but right now there's no one I see that comes close to USAA. 

Congratulations and ditto...your statement "Yaay" and "Oh Crap" just made my day!

Hi Joseph and welcome! First don't give up!!! It is frustrating waiting to find that first deal however if you're persistent it WILL happen. In the meantime why not post your numbers on BP so you can have multiple eyes looking at your numbers and helping you evaluate your deals? 

Welcome to BP Ronnie! With 6 years of experience you have plenty of insight! As mentioned make sure you set up your keyword alerts and if you haven't already done so check out the forums for your area(s) in TX.

Hi Henry! I have to second what Brandon said. Identify your goals and definitely your why. The vehicle you use is going to be dependent on where you want to go and how fast you want to get there.