All Forum Posts by: Stephanie Walker

We use DSCR loans on our investment purchases as well. DSCR qualifies borrowers based on the income generated by the property (or potential income) rather than your personal income.

Most DSCR lenders I work with require either a DSCR of 1 or 1.15 (which just means the rent or potential rent would cover 100% or 115% of loan payment).

Note that most - if not all - DSCR loans typically have a pre-payment penalty and often have higher interest rates than conventional loans. However, it is a VERY popular option for investors for several reasons including the ability to close in an LLC, no personal income verification or tax returns, and no DTI restrictions.

I'm not a lender. I'm a REALTOR and investor that has closed many DSCR loans as a consumer and as a broker. Happy to help provide clarity with any additional questions you might have.

I don't know of any ways a flip could qualify but you should speak with a 1031 Qualified Intermediary.

Why not use an agent so you can use the Standard OTP? Unless you're looking at some type of creative financing and/or off-market opportunity.

I'd suggest getting an agent or hiring an attorney that is well-versed in the investment space. 

I would say that it depends on your budget, ideal strategy, and goals. 

I think Charlotte and the surrounding markets are a strong, dependable buy. But of course I'd say that 😂 Most of my investor/owner clients have consistently made second and third purchases with me for me to manage every 2-3 years.

However, if I were to choose a market other than the one I'm in, I'd likely choose Austin or Ohio depending on my budget at the time. 

Hi Govinda!

Just wanted to give some insight here as a PM myself based out of Charlotte NC.

It really depends on what exactly you're asking them to do. As a REALTOR & a PM, it can be difficult to figure out where to draw the line. For example, we will assist our clients with finding and purchasing the property (buyer's agent hat) then turn around and manage that property (PM hat). However, if that property needs rehab, we are not project managers. We do offer that service but that is a completely separate hat at a separate price - depending on the scope and expectations.

I manage a few properties in the Greensboro area and have a few trusted GC contacts. What is the scope of work?

I’m a REALTOR and Property Manager specializing in MTRs in the Charlotte, NC and surrounding markets. I’d love to chat in detail to see if Charlotte is a good fit for your investment goals. 

We'd never had much luck contacting any department at the hospitals themselves. However, I was lucky enough to be put in contact with our area hospital's HR Recruiter who has had a few of their corporate employees stay at our properties. I've been managing 70+ midterm rentals for over 3 years and we have never housed a traveling nurse - in our area, their stipends (or what they are willing to pay) are much lower than we can get in rents with other prospective guests/tenants.

Utilities are included at all of our properties and that is common practice here.

That depends on what type of landlord you want to be.

Furnished rentals will most often attract shorter term stays via AirBNB/VRBO/etc. weekend stays or midterm stays via insurance claimants, business travelers, etc. Owning/managing furnished rentals is a hospitality business. Is that something you are prepared for? The expectation here is more income, assuming that your property is in an area where furnished rentals are in demand. While we see year+ long furnished stays here in the Charlotte area, they are far and few between.

With that being said, the furniture, linens, appliances, etc. you provide/leave for guests matters. The more effort you put in to make your home stand out in a (maybe) already congested market, the higher the chances are that someone books your furnished rentals over others.

I’m an investor, Realtor and Property Manager in the Charlotte market. I think it really depends on your goals and your price point. A lot of our investor clients invest here in Charlotte but also invest in Arkansas and Ohio. I’m not personally familiar with the other two markets but I’ve had calls with two of my investors recently and we’d discovered that their equity gains are higher here in the last two years than they were in the last five in Arkansas, Ohio and in various other states. The cost of entry in Charlotte and surrounding areas is higher, however. 

Stephanie Walker - Empire Dreams Real Estate & Property Management

I highly recommend @Maranda Tucker. She’s a master in her craft!