All Forum Posts by: Noah Wright

I can do it for .75 origination, all lending fees priced in to that. would love to establish a working relationship. Available 24/7, let's do it.

Hey Omar,

Welcome to the real estate world! BiggerPockets gets better with every new member, so we're glad to see you here! DSCR (Debt Service Coverage Ratio) loans are a popular option for investors because they come with several key benefits that set them apart from traditional loans. Here's a quick breakdown of why they might be a good fit for you:

1. No Personal Income Requirements (No DTI): Unlike conventional loans, DSCR loans don't rely on your personal debt-to-income (DTI) ratio. The loan approval is based on the property's rental income covering the mortgage—making it easier for investors without traditional income streams to qualify.
2. LLC Protection: Many DSCR lenders allow you to hold the property in an LLC. This is a huge plus because it offers liability protection, meaning your personal assets are shielded if there are any legal issues with tenants or the property.
3. Doesn’t Appear on Your Personal Credit: One of the big perks is that these loans don’t get reported on your personal credit profile, so they won’t impact your credit score or debt visibility. This is especially helpful if you plan to continue investing and don’t want multiple mortgage loans affecting your credit report.
4. Streamlined Process: Since DSCR loans are focused on the property's cash flow rather than personal financials, the approval process can be quicker and less documentation-heavy compared to traditional mortgages.

If you want more info or need help getting started, feel free to reach out! A mortgage broker specializing in DSCR loans can help you find the lowest pricing for your specific transaction out of hundreds of potential lenders. Happy to help anytime --

Wow, Robert! That's an incredible return on investment! Achieving a 4098% IRR in just 58 days is nothing short of remarkable.

I’m curious about a few aspects of this deal:

1. Entitlement Process: Can you elaborate on the land entitlement process? What specific steps did you take to enhance the property’s value before selling?
2. Market Research: What factors did you consider when determining the potential resale value? How did you identify that this property would be a good investment?
3. Challenges Encountered: Were there any significant challenges you faced during this transaction, and how did you overcome them?
4. Lessons Learned: What key lessons did you take away from this deal that you would advise new investors to keep in mind?

Looking forward to learning more about your strategies and insights!

Hey Spencer! It’s great to see you diving into real estate, and it sounds like you’re on an exciting path. Your situation offers some unique opportunities, and I’d love to share my thoughts.

1. House Hacking with Your Name: Given that most lenders won't lend to an LLC for residential properties, using your personal financial status to house hack could be a smart move. This would allow you to gain valuable experience as a landlord while also benefiting from lower downpayment options. You'll build your cash flow and learn the ins and outs of property management, which will be invaluable as you move into multifamily investing later.
2. Living in a Multifamily Property: If you’re committed to the multifamily route, consider purchasing a small multifamily property (like a duplex or triplex) where you can live in one unit. This way, you can still house hack while aligning with your long-term goals. Many lenders offer options for owner-occupied financing on 2-4 unit properties, which could be a great fit for you.
3. Long-Term Vision: Since you’re already in a mentorship program for multifamily syndications, keep that long-term goal in mind as you make decisions. The experience you gain from house hacking or living in a multifamily property will provide you with insights that will be beneficial when you scale up.
4. Financial Considerations: Make sure to weigh the financial implications of both routes. Analyze your potential cash flow, expenses, and how each option aligns with your overall investment strategy.

Ultimately, choose the path that feels right for you and aligns best with your goals. If you have any questions or want to discuss financing options as you move forward, feel free to reach out!

Good luck with your first deal!

Hey Kevin! Welcome to the world of real estate investing! Houston is a fantastic market with plenty of opportunities. As you're starting your journey, here are a few tips to help you along the way:

1. Educate Yourself: Take advantage of resources like books, podcasts, and online courses focused on real estate investing. Knowledge is your best tool!
2. Network: Connect with other investors, real estate agents, and professionals in your area. Joining local real estate investment groups can be a great way to meet like-minded individuals and learn from their experiences.
3. Start Small: Consider beginning with a single-family rental or a small multifamily property. This will allow you to gain valuable experience without overwhelming yourself.
4. Understand the Market: Take the time to research the Houston market thoroughly. Understand the neighborhoods, pricing trends, and rental demand to make informed decisions.
5. Stay Open-Minded: The real estate landscape is constantly changing. Be adaptable and open to exploring different investment strategies as you learn more about what works best for you.

If you have any questions or need advice as you navigate this journey, feel free to reach out. Good luck, and enjoy the process!

I completely agree, Jonathan! Having thick skin is essential in real estate investing. The ability to take constructive criticism and learn from it can truly set successful investors apart from those who struggle.

It's important to remember that not all feedback is personal; often, it comes from a place of experience and care. The example you provided about STRs highlights how crucial it is to consider various perspectives before making decisions. By staying open-minded and willing to learn, investors can avoid costly mistakes and build a solid foundation for their future.

In real estate, emotions can cloud judgment, leading to impulsive decisions. Practicing resilience and maintaining a level-headed approach allows investors to navigate challenges more effectively.

Thanks for sharing these insights! It’s a great reminder for everyone in this field.

Hey Jacob,

Congrats on building equity in both properties—it sounds like you're in a great position to leverage your assets for future investments!

Using a HELOC on Property A to fund a rental in the $150-200K range could work well if you're focused on steady cash flow. Just ensure that the projected rental income comfortably covers the new payments, including the HELOC. In my experience, cash flow is key, especially for long-term holds, so running a detailed DSCR (Debt Service Coverage Ratio) analysis might be a good step here.

On the flip side, if you're eyeing faster returns, a flip might be more lucrative. Since you’ve already done renovations, you probably know how to manage rehab timelines and budgets. Just be sure to account for holding costs, which can add up quickly.

Another option—since you're well-positioned in Austin—could be bridge financing or hard money lending for your flip. This way, you'd preserve more of your HELOC for future deals or emergencies.

Feel free to reach out if you'd like to discuss DSCR options, or if you're thinking about hard money for any upcoming projects. I specialize in both and would be happy to help you crunch the numbers!

Best of luck with your next move!

Hey Rabia! Finding the right lender for the BRRRR method is crucial, and I'd love to help you navigate that process. As a lender who specializes in financing for real estate investors, I understand the unique needs of the BRRRR strategy and can offer tailored solutions to fit your goals.

Here’s how I can support you:

1. Flexible Financing Options: Various loan products designed specifically for investors like you, allowing for quick access to funds for purchases and renovations without the stringent requirements of traditional lenders.
2. Experience with BRRRR: Having worked with many investors using the BRRRR method, I can guide you through the financing process, ensuring you understand the best strategies for maximizing your returns.
3. Quick Turnaround: With a streamlined application process and quick approvals, you can move fast when you find the right property.
4. Personalized Support: I’m committed to building strong relationships with my clients. You won’t just be a number; I’ll work closely with you to tailor the financing to your specific needs and goals.

If you're ready to take the next step with the BRRRR method, let's connect! I'd be happy to discuss your plans and see how we can make your investment journey successful.

Looking forward to hearing from you!

Hey Luis! It’s great to see you looking to expand your network. Connecting with brokers and agents can open up new opportunities for business, especially in the private and hard money lending space.

If you’re open to it, I’d love to discuss how we might collaborate or share insights on deals. Networking is key in our industry, and I’m always looking to connect with like-minded professionals. Feel free to reach out!

Looking forward to hearing from you!

Hey Jimmy! Using the equity in your current home to purchase your next home can be a smart strategy, especially since you plan to rent out your current property. Here are a few points to consider:

1. Equity Access: If you have significant equity, you can tap into it through a cash-out refinance or a HELOC (Home Equity Line of Credit). This can provide you with the funds needed for a down payment on your new home.
2. Rental Income: Keep in mind that the rental income from your current home can help cover the mortgage on your new property. Lenders often consider a percentage of that rental income when assessing your borrowing capacity, which could make it easier to qualify for a new loan.
3. Market Conditions: Analyze the real estate market in both your current area and the area where you plan to buy. Make sure that using your equity won’t leave you stretched thin, especially if property values fluctuate.
4. Long-Term Strategy: Think about your long-term investment goals. Using equity can be a powerful tool for building wealth, but it’s essential to ensure that you’re comfortable with the level of debt you’re taking on.
5. Consult a Professional: It might be helpful to speak with a financial advisor or mortgage broker who can help you weigh your options and determine the best course of action for your specific situation.

Best of luck with your move and the rental property! Excited to see how it all works out for you!