All Forum Posts by: Abbey Humphreys

Hi Logan- welcome to BP! There's so much good info on here, definitely a great step forward. Would love to connect with you. 

Your rate is going to depend on a few factors when it comes to a DSCR loan. The three main factors are your personal credit score (though this can be mitigated through borrowing through an entity), your desired LTV, and the actual DSCR of the property.

Here are a couple of articles that should be helpful for you:

https://www.biggerpockets.com/blog/questions-and-answers-abo...

https://www.biggerpockets.com/blog/dscr-loans-what-are-they

This looks solid- nice work. 

This looks great. The MTR space is thriving!

Hey John- that's awesome that you're starting out now. I think connections can be infinitely valuable in real estate, so focusing your efforts in that direction can help you out in the long-term. I would suggest putting yourself out there however you can! 

I would say narrow down your chosen market ASAP and then when it comes to building your team, focus your efforts almost entirely within that market. Go to those REI meetups and socialize with other investors and realtors in that area. This way you'll be familiarized with the ins and outs of whatever location you choose.

Hey Kenny- hope this helps!

1. 1. Estimated Cash due is what I have to put in? Is it my Down plus fees?

Yes – it looks like they are including some fees and costs but note the asterisk which says there might be additional fees to come

     2. How is my Down Calculated? 25% down of the Purchase Price?

This is a pretty poorly structured term sheet since this should be pretty easy to follow. It looks like they are offering a $101,500 Loan to purchase and then financing all of the renovation budget, but its not 100% obvious

3. They are only offering me 65% of ARV ?

Yes, that’s what it looks like. With your credit and assuming it’s a solid deal, these at first glance don’t look like great terms, you should consider shopping around

Hey Spencer- AirDNA is a great tool and if you want to stay away from seasonal properties, there is a way to filter for that within the software. I would suggest going that route. Best of luck!

This is great! Loving the narrative- keep it up.

BP school is a fantastic start. There is so much to learn and absorb. It sounds like you've niched down and focused on your market- that's fantastic. Best of luck!