I'm a local youth pastor in MN and I'm looking into getting started in real estate so that I can provide extra income for my growing family.

Hi everyone, heres my BRRRR situationpurchase price 520,000rehab 25,000Appraised at 600,000Rents are now at 1950, 1850 and 1600 totaling 5400My question is can i get a DSCR to take out all 545,000 as the rent roll to to a mortgage for that amount would ratio out to around 1.4 but....obviously appraisal is not high enough for 80/20Any info on this or suggestions would be great.

Unfortunately, I think you should eat the cost on this.If you have a door that can lock, you should provide the key.

As-is value: 5.

The world values your money at 3 or 4% with no risk. 8 or 10% with moderate risk.

When you mentioned pulling out $110k, that’s the perfect snapshot of how equity can turn into future deals without selling outright.So, if you were to rinse and repeat, would you still go for another rental thta’s already turnkey, or would you look for something you could add value to?

Can you please provide me a copy of the MHP evaluator?

We have worked with them and have had great results. highly recommend

To all of those providing rental housing in the Cedar Rapids market, I'm curious to hear from YOU!

you can use a DSCR loan if your DTI is too high for conventional.