All Forum Posts by: Muhammad Amawi

Hey Christian,

Try starting with the bigger pockets podcast from episode 1 as well as doors to deals

Hey Adriaan,

Timing the market is just another way of saying invest when you're ready. When you're running numbers for a property and they make sense with your goals and plans; it is now your time in the market.

Hey Benjamin,

I would recommend speaking with a credit repair agency. They will know what to pay off, when to pay it off as well as how it will affect your score. I work with one who even offers her services for free if the agreed upon results aren't obtained.

Hey Michael,

I agree with everything JD mentioned. To add some to that:

My suggestion to find the best way to leverage your financing would be to talk to a licensed professional who can take your unique profile and situation to find the best options for you. I typically would recommend using a broker since they'll be able to pull multiple options from different lending companies. That way you won't necessarily need to do a ton of shopping.

DSCR is always a great option in the investment space as you're qualified off of FICO, debt service cover ratio (typically ranging from .85-1.25 or not needing at all based on FICO), and having proper reserves (anywhere from 6-12 months is what I come across) amongst a few other determining factors. There are also options to do this in personal name or LLC with short term rentals being ok in certain situations.

To give you a market, the Cleveland market is pretty hot. I'm native to Cleveland and can say that Lakewood, Edgewater, West park, Ohio city, Tremont, Brooklyn and old Brooklyn are all great areas to check out on the west side of Cleveland. I'm sure @Michael Magno would be able to provide a lot of value and insight on the Cleveland market and surrounding areas.

Hey Blake,

To qualify for a DSCR the lender will look at your FICO and the Debt service cover ratio. Typically it will be a little above a 1:1 ratio however a lot will depend on what your FICO ends up being. Another qualification through my experience is needing to own a primary residence.

 Hey Seth,

I've personally helped multiple investors with DSCR financing through LLC and personal and would be more than happy to help.

Looking forward to connecting! 

Hey Chris,

What it seems is that a DSCR (debt service cover ratio) loan would work best for your scenario here. This way, you are just qualified based off what the property makes you monthly and your credit. You will typically need to have at least 6months-1year of reserves as well as having to put down 20%-30%

Hey Tausen,

The best way to know what type of financing you'll need is by filling out an application so your unique profile can be reviewed. Income, Property, Assets and Credit all come into play here amongst other variables. If you just started working again it would be pretty difficult since you will need at least 2 years of verifiable income from employment.

Hey Payton,

I'm not an agent, however the best piece of advise I could offer is to network and then to network some more. Organically growing your business through relationships is the best long term play in real estate. This way, you're setting yourself up for success down the road to not be reliant on leads.

There's a ton of different methods to doing this from attending networking events, hosting networking events, activity across all social platforms and obviously bigger pockets to name a few.

Hey Obehi,

Cleveland is an amazing market for multifamily properties that are almost all going to be under your price point with great cash flow opportunity. I typically recommend the westside of Cleveland; Ohio city, Tremont, west park, Lakewood, Edgewater and Brooklyn are all great places to start your search.

I'm very well connected to local real estate agents, title and pmc here that would all make it a great smooth sailing process for yourself.

Looking forward to connecting with you!