All Forum Posts by: Nandish Desai

Hello

My credit score took a hit due to incorrectly reported late payments. Since then the bank has reported a dispute with the credit bureau to remove that late payment. That takes at least 4 weeks to resolve. 

I already have a property under contract with closing on Oct 4th. Any DSCR lenders willing to work. Our current lender is not willing to move until credit dispute is rectified. Inspection and appraisal already done. Property is in NH, current credit score is 680, corrected would be 750+.

That's exciting. We also invest in southern NH. Candor Realty has a bunch of meetups in Southern NH. Might be a good place to start. 

My wife and I bought our first condo in our own names. We recently sold that condo to 1031 exchange. We had bought the condo with a conventional mortgage in our individual names. For 1031 exchange, we can't close the new property in a LLC due to tax purposes. Are there lenders that do DSCR but close in individual names? Confused because DSCR by nature looks at the income the property is generating and not your personal income or credit I believe.

What is STR loophole?

 Hey Jaylan. 

thank you. Looking to diversify the portfolio a bit plus it’s super cool to own something that is unique. I am/was considering tiny homes because I don’t have ANY experience building a house from scratch, also this will be roughly 2 hours away from my home zip code. I found a few tiny home companies that do a full turnkey build and deliver. So all I have to look for is electricity, water and sewer situation. I am worried that although this type of “unique” stays would bring in good cash flows, but the property won’t appreciate at all. Will be happy to connect with you. 😀

 Yeah it definitely is a tedious process specially when you are trying to orchestrate this 2 hours away in to NH. I was looking at lands that are kinda leveled, kinda ready to go. But yeah I will definitely be researching a lot more in to this. Thanks for the advice. 😀

Hello 

Newbie in STRs. Have a multi and few condos as long term rentals and wanted to diversify in STRs. Can anyone guide me through the process of buying land, getting permits and setting up a tiny home/s for STR in New Hampshire, 1-1-5 hours from Boston. Looking to buy tiny homes from company that do turnkey delivery. Also open to someone telling me this is not a great idea.