While I can appreciate ones desire to own real estate, it is not the appropriate investment strategy for most who fall within this category & the consequences of a bad investment generally far exceed the potential upside.

There is a range of DSCR lender underwriting policies for "1st time investors" - some don't allow it, some do with no restrictions, and some in the middle (typically cut max LTV by 5% or so and restrict against anything over 4 units)Also - check out these BiggerPockets articles for a ton of info about DSCR loans:DSCR Loans: What Are They And How To Get The Best Termshttps://www.biggerpockets.com/...DSCR Loans: How To Use Pro Strategies To Save More And Make Morehttps://www.biggerpockets.com/...Multifamily DSCR Loans: A New High-Impact Loan Option For Real Estate Investors?

I've not invested with 5S so I can't comment on their product and management specifically but I can say for build to rent, if you’re considering this, ask yourself: Does this fit your investment strategy and comfort level?

We had just listened to a podcast with Marco from Norada as the guest (Passive Wealth Strategies for Busy Professionals: Demystifying Turnkey Real Estate Investing) and were reviewing the information about the notes on their site.

Liquidity: If this is your first or second property, prioritizing liquidity (by cashing out now) might allow you to seize unexpected opportunities, especially if you’re actively prospecting deals.Since you don’t have a deal lined up yet, you might explore options to minimize the gap, like prequalifying potential deals or using short-term financing strategies to bridge the 4 months.Good luck growing your portfolio!

Hi @Saika Maeda - it seems like you received good advice to legalize the unpermitted unit as the best strategy to move forward with.

Burned my *** too many times lol.I am here to learn new strategies and take part in discussion regarding landlording and home improvement.   

., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.However determine the Rehab Costs are only a part of analyzing a deal, you also have to focus on determine the After Repair Value of the property in the specific Area/LocationIf you’re focusing on specific markets and ever want to discuss analyzing deals or strategies, feel free to connect, Our firm would love to help you!

These are boiler plate loan agreements that are consistent with the loans underwriting requirements.

Most fields to become world class at something take 5 to 10 years of consistent work and improvement on a daily basis.Today about 21 years in with commercial real estate I have tons of business and also properties I can purchase.