All Forum Posts by: Michael Moya

Thanks @Jaycee Greene! I thought that HMLs were more tailored for flips and less for buy and hold?

Hi Bigger Pocket Community - Looking for some insights and advice on loan options for single family homes under $120K. I'm looking to purchase a single family home as an investment property (buy and hold strategy). I only have enough funds for a 20-25% downpayment and was looking to do a DSCR loan to cover the rest. I do not have a traditional W2 job so I can't pursue the typical conventional loan or a FHA since I don't have income (hence the DSCR route).

However, I've seen that most DSCR lenders do not lend if the loan amount is less than $100K. Does anyone have any creative financing advice or any insights? Thanks so much!

Ooo that's good to know - thanks John!

Hey everyone!

Another newbie has entered the chat. Very excited to be here and ready to connect. I've watched many webinars and listened to hours of podcasts and it's time to hit the start button. 

After joining BiggerPockets Pro and making use of all the tools available, I've decided that Buy and Hold will be my main strategy, specifically with small multi-family homes to start. 

I recently shifted my career to focus mainly on real estate investing, so I'll need some help with creative financing as I don't have a standard 9-5 like many others. Probably going to pursue the DSCR loan option but if anyone has any suggestions that is COC return friendly, my ears are wide open.

Looking forward to connecting with everybody!