All Forum Posts by: Renee Lee

What’s the best app to help one find good renters?

@Alex Bekeza

Do you provide these type of solutions to FL investors?

@Marcus Auerbach

One more, what do you mean by my package in my executive summary?

@Alex Bekeza

Will a commercial loan work if I'm not an LLC?

@Marcus Auerbach

Your right I’ve tried Chase, Bank of America, etc... they have given me mortgages in the past.

And yes, I do show a positive cash flow on my tax’s returns. Thanks for your advice, it’s very helpful.

I’ve got a strong credit score. And I’ve got a total of six doors. But I can’t seem to qualify for an additional property due to my debt to income ratio. I’ve owned all but one of these properties for more than 15 years.

-Duplex paid off monthly rent $1180.

-Single family home owe $12,000 / monthly rent $1150.

-Single family home owe $12,000 / monthly rent $750, soon to be $950.

- Duplex owe $89,000 / monthly rent $1800

- Primary residence: owe $65,000 (and no rental income here).

Pulled some $15,000 of Equity out of my primary residence as HELOC to rehab the property that rents for $750. After I cleaned it up I believe I can get 950 maybe even $1000 a month rent. I know about the BRRRR method I've thought about using that method with this property, BUT I'm in central FL and there isn't a lot of property for under $100,000. Plus I do t know of a lender who will do a refinance on investment property, in terms of cash out.

I’d love feed back on how to qualify for my next investment. Including maybe a lender that works with people like me.

Your sight, experience & guidance are much appreciated. Thanks for taking the time to help me.



@Mark S.

Here's the issue I've run into with the HELOC, my credit is very good. But my DTI will not allow me to purchase additional property.

@Mike Miller

Right!

@Adrian Smude

Interested, following

@Robert Amend

Sure enough, South Lakeland.

I have a few doors.😉