All Forum Posts by: Moses Villarama

Hey BP community!

My wife and I live in LA and are looking at buying real estate. We've got a decent chunk of liquid reserves and credit scores above 800, but we can't get a loan because our income from 2020 and 2021 was largely from unemployment. Any advice on where to start? We're pre-approved for a DSCR loan but it would mean an interest rate above 8% and putting in a large chunk of our cash into one home. Would it be better to buy an investment property in a different market to generate income first? Are there other strategies?

Thanks,

Moses

@Christopher Petrillo Thanks for the tip. I'm nowhere near Indianapolis.  Are you a local investor?  I'd love to find out more.  I've heard a lot of good things about Indianapolis.

@Christopher Petrillo I haven’t considered that yet, but I’m open to it. I’ve tried to keep my search options to cities where I have friends or family. Are you finding success in Indianapolis?

@Jordan Beckett I’d love that. Are you into seeing theatre? If so, I could get you a pair of tickets and we can chat after. I’m open to coffee or lunch too. Thanks!

@Jordan Beckett I saw that and want to go, but I’m performing that night at OSF. I’ll have to look out for the next one. Are there online groups/forums?

@Lauren Perry Thanks! What resources helped you get started with long distance investing? I’m looking to educate myself further since it seems that my local market of Medford, OR may not be ideal for finding deals that make sense.

@Ashley Ohno From what I’ve read, flipping takes a lot of time that I don’t have. Full-time I’m an actor, so I think rentals is what fits my lifestyle. I’m not sure I can find good deals in my local area, so I’ve been more focused on long distance investing.

@Thomas Subias thanks for the tip. Are you invested there or other markets?

@Brent Paul thanks!

@Amy Aziz thank you!