All Forum Posts by: Lyn N.

You should look into DSCR loans for this. Lenders are familiar with STR and can often do DSCR loans for up to 10-12 unit MFH. Some may also require 12 month seasoning

DSCR where it focuses on the asset and deal itself over your personal income

@Jay Sullivan Haaaa! I'm with wifey.. I couldn't get behind a househack either when I first started so I just saved until I flipped, reinvested, LTR, then now lending & STR/MTR.

For finding your first deal: get on wholesaler's lists for the markets you're interested in flipping would be the easiest way. You can also browse MLS everyday if you want but I like seeing deals coming into my inbox everyday, even if I'm not ready to buy. Network as well and go to local real estate meet ups.

For funding: you can HELOC, find a private lender to lend you 20% down, find a capital partner, or just live below your means for a little while and save till you have the 20% down (can go higher or lower than 20%, but 20% is generally required for fix&flips & BRRRR loans if not going conventional).

Happy to connect more if you have any further questions! :) 

@Jake Baker is the guy for this! 

Welcome Jay! Congrats on starting your journey! What kind of deals are you looking into for your first deal? Fix & flip, househack, BRRRR, etc?

Hi Khu, 

If you haven't already, I'd suggest attending REI meet ups and events. Even if they're SoCal local meet ups, there should definitely be some out of state investors or people similar to your situation. Maybe you'll pick up ideas along the way and have a clearer idea if you want to wholesale and/or flip.

As for self employment, there are other financing strategies as well! You can check out hard money lenders and private money where they focus more on the deal itself than your employment. 

Hi Daniel! 

We lend in the area and I'd to to connect with you further. Sending you a PM :) 

Depending on your LTV position, you may be able to refinance now because you already have a tenant in place. Do you know if your tenant is paying market rent or is the current lease under market value?

@Regina Wagner

@Regina Wagner Hey there! Fellow Seattle investor here :) Where do you like to flip?