As we speak we are helping another BiggerPockets investor with their first Section 8 in Detroit.

This time though I will be ahead of the curve in terms of not having to borrow from the bank.  

You also have to check out your current lenders MAX CLTV rules because it may cause issues with the first DSCR lenders original note/agreement.There are some lenders that have CLTV rules or will not allow a 2nd lien if it does not confirm with their Max CLTV similar to a 'Due on sale" clause.

When I go into quickbooks, I can generate profit & loss statements any which way I like for whatever time period I'm interested in and see how each property is performing.

If it was 20 years ago and they had the same name, its gonna be an uphill battle to go back now after someone has been paying taxes on a property and probably upgraded it during that time.

Knowing who to contact and what lenders can execute in the marketplace is so crucial and as an investor, that can eat up a lot of time and resources that would otherwise be better used elsewhere when trying to do it on your own. 

We discussed this in an earlier post.Obviously, if loans are being made without any provision in the Operating Agreement, it’s time to get in touch with your State Securities Protection Division - usually a part of the State Attorney General Consumer Protection Agency.

Quote from @Jonathan Chan: Hi All,I first joined biggerpockets back in 2020 when I decided to get into real estate.

I carry 3 spares in my truck at all times and just swap them then fix on my own time.

I see him a few times a year.