All Forum Posts by: Mehmet Arslaner

Hope everyone is doing well during this time of uncertainty. New to real estate investing but looking to get into BRRRR investing specifically. I am currently looking for lenders that can help support this goal. Ideally looking for lenders that have a low seasoning period and can offer a 70-75% ARV cash out refinance. I currently have one private investor along with myself that can help cover the cost of rehab or down payment for a property and right now we are trying to get our finances in order while we look at potential homes in the Northern, NJ area.

Also as a way to try and give back, I am geotechnical engineer (EIT not a PE yet) and work with design consultant in Newark, NJ. We specialize in subsurface investigations, foundation designs, seismic analysis, and support of excavation designs and work with a lot of developers in NYC as well as NJ. We provide a number of different services that can help benefit both commercial real estate investors and residential real estate investors. Specifically we can help with performing soil borings for new construction or anyone deciding to buy a plot of land and build a new home on top of it as well as offering engineering recommendations for settlement issues.

Thanks guys. I've already been pre-approved before but it was a while back when I was a little wishy washy on buying a home. I'm getting serious with the search now and spoken to a few lenders but will most likely apply to two different ones for pre-approval now. Credit score is pretty good so I'm not too worried about the credit checks but I just wanted to double check.

As the title says, Im looking to find out if applying to multiple mortgage lenders will have a big impact on my credit score? From my understanding it seems like its ok to apply for multiple preapprovals with different lenders as long as its within a two week time frame. Anyone with experience know if this is the case?

Hey all,

New to real estate in general, I've been looking at moving out of parents house for some time and looking at ways to invest in real estate. I live in North Jersey and work as a geotechnical engineer where I travel between Newark and NYC for work. I currently have a credit score of 800+ and about 40k in savings, not including retirement (20k+ in the bank and 20k in a wealthfront account). I love the idea of passive income and using a buy and hold strategy overtime to acquire multiple properties to rent out and grow.The idea of house hacking in a 2/3 family house is very pleasing too but I do not know nearly enough to feel confident to be a landlord and so I'm torn between searching for a multifamily house, single family and a condo. I just wanted to hear some of your guys thoughts on focusing on buying a single family property/ condo and building equity in order to take out a home equity loan or saving more money to buy a multifamily home and learning how to house hack. If theres any particular resources you guys can recommend Ill gladly take a look at as well.