Hello All, I recently just finished my paid mentorship for apartment syndication and ready to take down my first deal.

Hi Joon, You can get a $55k loan amount using a DSCR loan as long as the value is $75k.

Welcome to BP Joseph, it's great that you're getting started! 

Those get paid before rent, so they will likely be behind on rent by the time you get to court.Finally, I would not renew their lease.

Once the foreclosure process has started, you can only get the train back on the tracks if you can pay off their loan and liens, which someone probably would have done earlier on a short sale if the upset value wasn't too high.

Back at that time it was already a hot market, I was able to get this property with a full cash offer.

I was warned about it when a tenant hires employees, then they go down the block getting snacks, leaving the front entrance doors unlocked.

You will want an attorney and try and get it through federal court as district court will take 3+years (if you are near the city expect 5 years then several years to evict)Through federal court you may be able to get it done in 2-3 years.I strongly recommend you offer a nice cash for keys package.

I do not lend my own money as I am a mortgage broker but I have the resources to get you what you need at a good price.

As part of this transition, I’m looking to dive into the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy to build a portfolio of investment properties, and I’d love to get some advice and insights from those of you who are familiar with the area!