Washington, DC Mortgage Lender/Broker · Member since 2016 · 4k+ posts · 2k+ votes
BRRRR expanded
Buy Buy it right. Don't pay retail for a run down property. Don't get in a bidding war. If the price exceeds your number, walk away.
Rehab Rehab the property, but it's not the Taj Mahal, so put the gold toilet somewhere else.
Rent Have some standards for your tenants and stick to your guns. Vacancy costs are never fun, but neither are evictions.
Refinance Let US Commercial get you a 30 year fixed loan without using your tax returns, 1099's W2's or pay stubs. Yes we can, and yes we do (all the time). It's our main product.
I closed on a my first SFR in OK (I'm in Seattle). I purchased with cash did the rehab and looking to start the cash out part of this. I've never done a commercial/portfolio and can't tell if I'm getting a good deal. I have one quote and its seems really high given the cost of the property.
Looking for advice or alternatives or just a sanity check.