All Forum Posts by: Sandeep Singh

I have a degree in hamburgeology. No lie...accredited by the American council on education 

@Michael Ealy I am interested in investing with apartment buildings but lack the capital. I have 1 two family that i rent out. With that I was able to learn how to add value and do a cashout refinance. I have been managing a few properties for my parents so the renting side and maintenance etc I am comfortable with. Its finding the capitol and educating myself on analyzing the numbers. 

Hi Ryan where is the area for the home? I have very good luck on Zillow rental manager, apartments dot com, even craigslist. 

Sunny

I know it is frowned upon being a part time agent. But I wanted to hear from those out there that are doing this. My main goal would be to be able to get myself into to see listings at a faster rate than going through someone. If I sell a house or two in year that would be great to cover the cost. I have heard of eXp realty, which has no desk fees and its an online broker. Granted I will not learn shoulder to shoulder starting out as an agent that I would learn from the traditional broker and peers at the firm. My goal is to get enough passive income to ditch the w2 job. Then be an agent on the side with primary focus on building my own portfolio. This will also help with flips, I haven't done one yet. When the time comes it will be helpful. Any advice or thoughts appreciated. Thank you!

@Narinder Gill you basically have to call the banks and see if they are willing to lend with 20% down. If they can they are private portfolio lender. Another good route would be to post on here and ask if there are lenders that work with banks for 20% down. I actually got a way better rate with them. My original loan was at 6.25% and I got it down to 4.75% same 30 year fixed.

@Narinder Gill I have gotten better rates from credit unions. Another way to consider when buying is using a bank with private portfolio lending, this way you can only put 20% down, rather than 25% with your traditional fannie and freddie loans. 

Hi @Justin Wotring most banks that i have dealt with look around the lower 40 to 43. You can reach out ahead and ask what that bank requires for DTI. I am going through a cash out refinance and my DTI was 48, the bank would like 43. However we put a clause in that with the cash out i was going to use it to pay it for my debt. This way the attorney will be sending the money towards my debt and the bank worked with me.

@Jordan Mantel I have looked into this greatly as well. As the others have mentioned above most banks will want seasoned money. However if you go to a private portfolio or a commercial loan they will not question where did the funds come from. 

@James McCard can you let me know the date and time for the next meet and I will try to be there. Thank you

how about posting some pictures?  That would be helpful