Hi, I’m based in the Seattle area but invest in the Midwest with 9 doors across Memphis and Detroit.

This is why everyone want to become GP lol ;-)- So in your personal consideation, all in all, LP investment in bad market would perform even worse compare to invest to direct ownership- However, lets say now is good time to invest and market is good, then it is best to become GP of syndicator because you would make money 2000 times more LOL - hope you get it how you approach investment based on time and risk perspective.

So just make an estimate based on what you see on the property while viewing from the outside and know that the inside is always worse.

Hello everyone, I am looking for a lender to provide a second lien on multiple single family rentals, but which is not based on personal income.

Based on reading recent insights from Start Packing Up and Jax Daily Record, there are indicators from January of this year that Jax's real estate market has been going through ups and downs.

Profile:Investor owned LLC -LLC owns 5-6 properties-Investor normally takes every legal write possible so LLC DTI is high-LLC normally has an annual paper loss wInvestor Personally- Investor owns 2-3 properties not in the LLC-Equity in property 1 is over 70% and equity in others are around 50%-Investors personal DTI is around 15-18%Based on what you see above, the investor would like to tap into the equity in one of the above personal properties. 

Currently unbrandedbuilding is 2400 sqft.Town population: 2500Daily cars passing through that street. 6000 (based on 2022 data)No working pumps- will be rebranded by purchase.

@Seena NassiriI'm based in the Bay Area with a lot of clients that own rental properties out-of-state so I think I can answer this question with creditability. 

For this example we will use 70% For this formula you will need to know the following:ARV=After Repair Value ( How much will the house will sell for after making all the repairs needed)Repair Estimate - (Send me a message and I can send you a list I got from my mentorship class for ball park estimates based on square footage and depending if you need cosmetic repairs, avarage repairs or Extreme repairs)Your Assigment FeeARVx.70 - Repairs - Your Assignment FEE = Max OfferExample$200,000 x .70 = $140,000 - $30,000 (repairs) - $10,000 (your profit) = $100,000 (offer)Your potential profit is $10,000 I hope this formula helps you make offers that will make sense for all involved in the transaction.Happy Wholesaling,Lily Rodriguez - Investor friendly Broker

I can see why some lenders wouldn't like it since it would cut them out of a deal, but I would guess this is a very niche market based on downpayment size to make up the difference.