All Forum Posts by: Marianne File

Welcome to BiggerPockets, Marianne! Hope you find what you're looking for here!

Marianne,

The one thing you want to make sure before starting your journey into REI is that you have a great go to lender/bank. Your banker is extremely important in this process because our job is to be proactive and use preventive maintenance. There are certain steps in the BRRR or house hacking that you need to know before hand. Having a banker or loan officer who knows your goals and can create a road map is crucial. making one mistake in the process can be costly and waste a lot of time like when and how to make the first purchase, which program to use and when to refinance.

You want to make sure the bank/lender has all of the programs and finance options as well with little to (No overlays). I can tell you that offering traditional and Non-QM is also very important for the bank to offer. This will help when income gets tight but you still want to purchase after a multiple properties. being able to close in an LLC and offer cash out with no limits and at higher LTVS. I could go on for hours but finding the right bank/lender is super important for both the short term and long term REI goals.