Help me understand more of the situation.

I'm running to BiggerPockets because no one else understands what I'm doing or how excited I am.

Please help a dummy like me understand why you think this would be a good time to be a minority investor in large multi family?

I understand banking I am a mortgage banker personally..

As one of the fastest-growing cities in the United States, Raleigh, NC, continues to attract attention for its dynamic economy, burgeoning tech sector, and vibrant cultural scene. In 2024, Raleigh's market situation p...

My immediate goal is to buy my first rental property this year, get my feet wet with wholesaling one property in the next six months, and better understand the market.If there are any meets up or other networking events in the Charlotte area I’d greatly appreciate knowing about them.Best,Elliot Criss

I understand that they are looking at income and assets… my question was specifically about how mortgage companies view depreciation on existing properties…

Hi @Eddy Wehbe, brokers are doing the work that you don't want and, in a lot of cases, can't do (think of connecting you to branches that understand and are able to help investors, providing mortgage products that normally wouldn't be offered, getting rates that direct banks are not giving).

Our plan was to use this HELOC to secure off-market deals from wholesalers and then pursue refinancing.Concerns and Seeking Advice:However, I've read discussions, indicating potential challenges in refinancing when a significant portion of DTI is tied up in a HELOC.Given our situation, I am keen on understanding:1.

They are typically neighborhood locals who just understand the neighborhood and have a close pulse on what’s going on.