All Forum Posts by: Tabitha Jones

Hi Timothy! Welcome back! 

Recommendation for a realtor is Valerie Jones 610-905-9123. Shes worked with me and other investors!

My mom is an agent in the Allentown area. That is absolutely not true. I can give you my moms contact info if intrested.

Hey guys! I'm a new investor in the Lehigh Valley. Born and raised in the market. Im always looking to chat and network! Even though I am new to investing I am absolutely always willing to learn and help! 

Investment Info:

Single-family residence buy & hold investment in Easton.

Purchase price: $107,000

First investment--
SFH Twin home built in 1900;s
Main rehab- paint, refinish hardwood, paint cabinets, new countertop, add wallpaper, and other many misc items

How did you find this deal and how did you negotiate it?

MLS and my realtor is a rockstar!

How did you finance this deal?

conventional loan 20% down.

How did you add value to the deal?

10.5k in rehab before renting

What was the outcome?

Rented for higher rent than I anticipated!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Valerie Jones - Realtor

Hey Everyone! 

So I went to be pre-approved for my first investment property, but was denied by 2 lenders because the property would put my DTI too high. I have good credit and enough cash for down payment and closing ect.

I have my personal mortgage , auto loan, student loans, and 1 credit card with a balance. (Thought this was pretty typical) I'm not sure how people carry even 2 or 3 mortgages in just their name without sky rocketting their DTI.

Anyway my question is what are some ideas to get approved other than straight conventional loans since my DTI is too high?

I know the idea would be to pay down my personal debt, which I will work on, but that takes time. And even if i pay down the other debt I still would never be able to have more than 2 morgages in my name alone based on my income.

Thanks in advance!

Hi Everyone-- Rookie investor here, trying to get started-- I have been doing research, learning and listening to podcast for a few months now and feel prepared to start making offers. I actually did make one offer, but got outbid. No emotions right?? LOL 

My goals are to start with small multifamily and SFH to build my portfolio. I love the BRRRR method so have been looking into that! I know the refinance part may be hard right now for a newbie-- but I'm determined so i'll make it work!

So I'm really interested in how everyone landed their first deals! Just really looking for good REI inspiration! Flood this discussion with details on your first deal and how you achieved it!

Thank you!