Just sayin. based on over 2k flips under my belt.

Besides, there are no cap rates on residential real estate- you refi based on comps, not NOI. 

As a real estate agent based in New York, specifically on Long Island, I'm eager to hear from anyone who has experience with BRRRR properties in this area or has valuable tips to share.

Another option if this is strictly for investment purposes, you could try to go DSCR. we have one lender that will allow for 1-4 units (inv. prop solely) who will go as low as 620 fico, but your LTV may be limited to, say, 70%. qualifying would be based on the rents received, not off your $100k income. there are options out there, keep working at it and get a 2nd opinion even on a full-doc loan. hope this was helpful to some degree!

Purchase Price - $100,000 (land - 20%, building - 80%) So, the building value is $80,000. 

He's based in the UK so he's not local to the markets he works in so you really need to vet their entire leadership and staff who manage the execution, not just the owner.

The value of land tends to appreciate over time, but this is not a given; the value of some lands may remain unchanged or even decrease.

So, I bought a piece of land that I planned to build a new home on for me and my family.

You folks in California should be buying land for Transfer stations near the ports. 

Hi Vishal, I'm based on Los Angeles and know some MTR/STR owners in Riverside county.