Move slow, ask lots of questions, and don't be afraid to pass on a deal that doesn't feel right.Feel free to reach out if you want some resources on the Detroit market.

Given the seasonality there's likely slow workflow from the banks so it would be a good for you to apply, get approved, and be well poised for the spring market!

Its a slow grind since I don't have partners so building each brick at a time is what I'm willing to do . 

It can be slow as molasses.

There should be other options, however with an LLC and fourplex - yes, DSCR is by far most likely to be your best option unless you do the heavy lifting with local banks and credit unions (and these are increasingly not great options for this type of stuff as they move painfully slow and are under lots of regulations and restrictions)2) I haven't yet reached out local banks, but seeing the quotes from brokers makes me wondering if Banks may be better? 

Investment Info:

Condo buy & hold investment.

Purchase price: $280,000

Cash invested: $7,000

Light rehab, rent, and 30 month balloon to refinance. After 30 months I will have paid the loan down a...

Almost every single one of these loans also comes with an Acceleration Clause (Due On Sale Clause) that allows the lender to call your note due should you violate the terms of the note or guarantee. 

Slow answers.

In my experience RE investing is a reliable way to get rich slow, provided that you’re willing to invest steady effort and attention into the proper management of your portfolio over an extended period of time.   

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