😁My biggest dilemma is the initial investment for the down payment on the first property.

But he did that because there's only a 1% pre-payment penalty so he didnt want to incentivize us to refinance.

Look at your expenses- if you have a car payment, credit card payment, etc, get rid of those.

Details below...We need a FAST cash-out loan product that requires only the personal guarantee of my business partner (60% ownership) to be used for: completing the remaining rehab and getting the 1st house rent ready, paying off revolving credit accounts to get her credit score up, and funding the other projects we have in the works.To help bring you up to speed on what's transpired over the 11 weeks we've been in business...We started our business on Dec 1, 2023, leveraged our "then" good credit/high w2 incomes to bootstrap the startup, assembled a rehab team, and are now about 2 weeks out from the completion of our 1st rehabbed property.We've closed on 3 properties, all owned free/clear, and have paid for renovations with personal funds/credit.My credit score was 810, but is now 592, due to excessive debt but 100% on-time payments, therefore can't personally guarantee a loan.My business partner's score is currently in the 700s, but likely wont be for long, due to her revolving credit % continuously increasing, as we push towards the completion of the first rehab utilizing her remaining credit on her CCs.Recently, I started researching the underwriting timeline for DSCR loans. 

I've calculated the mortgage payment to be around $5500/month with a 6.6% interest rate and 20% down so that means the property will be in a negative $1600 without even counting capEx, vacancies and other fees. 

one option is to continue renting out all four properties to cover mortgage payments and generate passive income.

Hello all, I've watched a few podcasts where it was stated that it would be smart to house hack every year to take advantage of the low down payment loan options.

Condotels generally require a minimum down payment of 20%, which all comes down to the condo financials and the condo questionnaire once under contract as to whether or not more than 20% down payment will be required.

I had a 40K bonus from a large sale from my 9-5 that I used as a down payment to enter into an owner finance deal to purchase.

So long story short, my interest rate has increased on my rental property and my mortgage payment went from $1220 a month to $1969.