All Forum Posts by: Stephanie Sicard

Hi everyone ,

I purchased an investment property in Detroit in January . Since then , I rehabbed the property and it’s now rented out . I purchased it for 48k and it’s now worth about 90k. I’ve been searching for a lender that can do a cash out refi on this property , but I’m not having any luck. Most banks have a seasoning period of 6 months and up , and have a loan requirement of 100k. Has anyone had this experience ? If so , how did you move past this issue ? Thanks !

Hi everyone ! My name is Stephanie . I'm an out of state investor working on getting my first BRRRR property in Detroit . I'm looking for a project manager that can assist with managing the contractors and provide me with updates of the rehab progress . If anyone has a referral or someone they have used personally , please share their information . Thanks for your help !!

Hi everyone ,

So I’ve been studying real estate for almost a year now and have wanted to jump in months ago . I live in Miami , where the prices are really high and for the most part , it’s not great for investing . For example a 2 bedroom house starts at 290k . Due to this , I started to look in Jacksonville . The prices are great and you can find a lot of great deals , which I did . Some houses are 50k and up and cash flow really great. I decided to look for a lender and immediately ran into my first obstacle : most lenders do not do loans in that amount (50k , 60k) .

I’m currently renting and also want to get a primary home so I can actually pay my own mortgage instead of someone else’s . I thought to myself , maybe I should look for a primary home first and then try investing. I was going to look for a home that would still make sense even after I moved out . I started analyzing properties in the Miami area and none of them have made sense so far financially . When I move out , I would be cash flowing negatively. So I’m basically back to square one , and am unsure of what my next step should be . I want to get clear on what my goal is and stick to it . I also want to get started now , But I just feel stuck and I’m not sure whIch direction to move in .

Does anyone have any advice on my situation or has been through something similar when starting out ?

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@Wally Klosner Thanks for the encouragement Wally ! I agree . There will be hardships , but you do what you need to do to get through it .

@Andrew T. Thanks! That’s a great point . It’s better to plan for the worst than to be unprepared .

@Rod Joseph Thanks Rod . I appreciate the advice .

@Emanuel Ohunwu Wow ! Thanks for sharing . It’s really encouraging hearing other people’s experience doing what I’m trying to do now . I hope I can find a deal like that !

@Michael Ealy The reason I intended to use FHA Was so that I could house hack and live in the other unit .

@Enrique Huerta Thank you Enrique for the support and the Great advice !