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All Forum Posts by: Ryan C.

Ryan C. has started 4 posts and replied 29 times.

Post: HELOC on Owner Occupied Triplex

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9
Quote from @Oscar Beteta:

Hi! Pretty well. I worked out the HELOC in 2020 with state department federal credit union. I did an extensive search and found them to be among the only to offer a 95% cLTV at that time.

Awesome! And you did end up buying a 3-4 family? 

appreciate this info. I’ll be giving them a call to see what their most up to date requirements are. Have a 3 family primary in NJ

Post: HELOC on Owner Occupied Triplex

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9
Quote from @Oscar Beteta:

Hi everyone!  I’m in a similar situation where I am planning to buy a triplex or fourplex as my primary residence.  I want to buy it with a conventional loan with 25% down and then take out a heloc that will allow me to go up to 90 cLTV.  

Has anyone found a bank or credit union that offers high HELOCS with high LTVS?

Hey Oscar. How'd you make out with this?

Post: AirBNB dna site is it accurate?

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9

@Justin Sullivan

I found that their “analysis” was based off the “blocked” days on an Airbnb’s calendar. Where the discrepancy comes is if that owner “blocked” off days intentionally, or if it’s truly rented.

For example: I have an Airbnb at the Jersey Shore. I rent for the busy season and then block off rest of my calendar.

I found this to be the case when I did exactly what you’re doing now about a year or so ago. What I did was used the Airdna date(grain of salt), but looked closely at active listings in my target area. To see how many “blocked” days were there, as well as how many monthly reviews they got. That gave me a good sense of what I could expect.

Post: Texting Prospects: How's it going?

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9

@Jon Ladas I'm bummed to see no responses here. How have you been doing with texting in past 5 months with restraints continuing to roll out from carriers?

Post: Wholesaling in New Jersey

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9

@James Celidonio I couldn't agree more. Inflated ARV's, reach comps(if any provided) and comical reno costs.

I’m in TR as well and am just finishing up on a project. Would love to connect and see how can we can help each other .

Post: First Deal: 203k 3-Family House Hack

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9

Edit: use an inspector familiar with FHA guidelines***

Post: GC Needed in Toms River, NJ

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9

Hey All! I am looking for an investor friendly GC for a Flip I have under contract in Toms River. Needs to be licensed and insured. Please feel free to send me a message her or PM me. A reason for your recommendation would be greatly appreciated as well!

Post: Contractor Taking too Long to Finish past estimated completion date on contract

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9

Hey @Andresa Guidelli ! I am currently seeking sound advice for a contract with my contractor and came across this post. I really like your built in accountability with response time on text/calls/emails. Would you be able to share this contract with me? I'm looking to build in accountability across the board from deadlines, as well as penalties for the job being held up. 

I thank you in advance!

Post: HOW / WHERE CAN I GET PROBATE LEADS?

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9

@Shawn Morey How has your success been with this service/leads? Would love to hear of your process/strategy around these mailings and touch points.

Post: Financing when income is mostly commissions

Ryan C.
Posted
  • Investor
  • Jersey Shore
  • Posts 29
  • Votes 9

@Dakota Rice I just went through this on a deal of mine(also during Covid). Typically lenders look for a 2 year average of your commissions. I myself had over 5 years "bonus" paid W2 and little under a year of "commissions"(new job). Although the industries I'm in are identical it came down to what it the income was listed as. Long story short, my lender was able to get an exception from Underwriting for a 6 month history instead of the typical 2 years. I'd recommend shopping around and see what can be done.

Best of luck!