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7 February 2025 | 31 replies
@Shayan Sameer If you can service all debt and property expenses and have money left over then I'd say it's worth it.
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1 February 2025 | 51 replies
Then it sounds like you have your mind made up then right?
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7 February 2025 | 6 replies
So I guess one option could be to do a DSCR loan, Airbnb the property in full, and then in the future, refinance into a conventional when my DTI allows me to down the road.
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24 February 2025 | 8 replies
So, for a $60k loan, you'll likely need $12k-$15k for a downpayment, $8k-$12k for closing costs (prepaid insurance and taxes, lender fees, attorney fees, points, prepaid interest, transfer taxes, etc), and then another couple thousand for reserves and whatever else.
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1 February 2025 | 1 reply
Quote from @Blake Winiecki: Figure out how much you want/need to earn, then reverse engineer it to see what options are available.
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20 February 2025 | 21 replies
I'd suggest finding a third property - then you should be good to go with at least a handful of DSCR lenders
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8 February 2025 | 3 replies
In FL PS only provides about 37% of the leads/oppertunities going through the county records offices (I have study I have done comparing the 2 to back this up if you want me to post it/send it) recorder offices Florida and Hilsborough are obviously competitive but if your getting information before everyone else and using it fast in the market where it matters its not so competititve.If your leads are for say absentee owner, tired landlord then you want the owner to have had the property for longer to hopefully increase motivation.
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11 February 2025 | 15 replies
You save money, you get experience, and then you buy your own in a year.
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2 February 2025 | 20 replies
Most are being encouraged to buy Class B-minus rentals and below, but no one corrects them about their mistake of using Class A assumptions on these rentals:When a newbie gets smacked with reality via their losses, they then can only suck it up until time improves their mistake or dump at a loss.So, my question is, why can't we all do better and grow our industry with integrity?
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23 February 2025 | 10 replies
Then, it won't look like you are applying for a bunch simultaneously because they won't see each other.