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All Forum Posts by: Luis Fernando Botero

Luis Fernando Botero has started 6 posts and replied 14 times.

Quote from @Andrew Garcia:

Hi @Luis Fernando Botero, as the others have said in the forum, you are probably looking for a DSCR loan.

Those are the easiest to use for investment properties. However, you are going to likely run into issues with that purchase price.

Conventional financing is likely a better option for this as it provides better rates and terms and has no minimum loan amount.

Additionally, if you are going to live in one unit, you can look into FHA loans.

Hope this helps! Let me know if I can be of any assistance.


 Thanks Andrew

Quote from @Kevin Luttrell:

If you need the loan to be in your LLC, you'll need a DSCR or commercial loan. If you're fine with the mortgage being in your personal name, you can just get regular conventional financing. Conventional financing will give you better terms than DSCR or commercial.


 Thanks Kevin, very helpful

Quote from @Aj Parikh:

Look into kiavi.com. They do asset based lending 


 Thanks AJ, already contacted Kiavi

Hi BP community,

I have a question and would like to receive feedback from those with experience. I am looking at a turnkey duplex in Memphis with a purchase price just under 100k, what type of loan should I be looking for, I have read about DSCR loans but not sure if there are other options.

Appreciate the feedback

Thanks

Luis

Post: Looking for a contractor

Luis Fernando BoteroPosted
  • Posts 15
  • Votes 1

Does anybody have a contractor they can recommend in Jacksonville, Fl?


Thanks

Hi Khalil,

After the inspection I ended up not buying the property, but had I bought the property, I was going to use a local contractor who also offered renders at no cost as long as I hired him.

Originally posted by @Khalil Sleiman:

@Luis Fernando Botero, I am curious what you ended up deciding to do? Did you find and interior designer or did you do it another way?

Thank you!

Post: Contractors site visit

Luis Fernando BoteroPosted
  • Posts 15
  • Votes 1

Thanks for the advice Dave and Alicia, will keep this in mind for the next time I send my contractor to site visits.

Post: Contractors site visit

Luis Fernando BoteroPosted
  • Posts 15
  • Votes 1

Thank you Alicia, so far my contractor has done 2 site visits and has not charged me but since I am a new investor wanted to know if I should be paying for the visits

Post: Contractors site visit

Luis Fernando BoteroPosted
  • Posts 15
  • Votes 1

I wanted to get some insight on how much a Contractor should charge for a site visit to a property.

Thanks

I am a new investor and just placed a duplex under contract.  I was thinking of using an interior designer on this project but wanted to know if anyone had experience using one and if it would be worth it.  

Thanks