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All Forum Posts by: Abbey Humphreys

Abbey Humphreys has started 9 posts and replied 299 times.

Post: Looking to connect with realtors in Austin!

Abbey HumphreysPosted
  • Posts 303
  • Votes 324

Hey Kelly- would love to connect and discuss your goals/questions!

Post: Are DSCR Loan good?

Abbey HumphreysPosted
  • Posts 303
  • Votes 324

Conventional financing does come with lower rates/fees, but DSCR loans do have several distinct advantages over conventional financing. DSCR is primarily qualified based on the asset and also the investor's credit.

For one, DSCR loans don't take into account DTI, which is particularly advantageous for those that are looking to scale their investment portfolios given that by the second or third property, qualifying based on debt to income ratio becomes much more difficult.

No tax returns are required during qualification, either. You can borrow through an LLC, you have access to more than the ten loan limit on conventional financing, and the loan size that you can acquire has a significantly higher maximum. It's also a significantly more flexible process as far as qualification and underwriting.

Cash flow is king, as well as the sort of rehab that the property needs/you're willing to do. Do you want turnkey or are you looking to BRRRR? As far as assessing the profits, there are ways to do that using online rent calculators and simple math once you know how you will be funding your investment.

Finding tenants can be handled by a PM if that's something that you're interested in. If not, there are dozens of sites and apps that you can list your property on and then screen for desirable candidates. 

Post: Hype, Motivated and Focus!!!

Abbey HumphreysPosted
  • Posts 303
  • Votes 324

Hey Jhun- lovely to see you here! I think working as a travel nurse while you get things in order to take the leap is a great plan. Accruing as much capital as possible is key. Rates aren't great right this second but that doesn't mean you shouldn't take the first step. 

Like what @Benjamin Aaker said, continue to familiarize yourself with your market and make connections wherever you can so that when the time is right, you will have good conditions in which to make a move. 

Post: Can I buy you lunch?

Abbey HumphreysPosted
  • Posts 303
  • Votes 324

Jake- would love to connect!

Hey Muhammad. Is there any specific reason that you're looking to invest in DFW? If you're in CA and you're familiar with investing OOS, does it have to be the greater Dallas area? I understand that you already have a property in Frisco but there are other cities in TX that are a bit more investor friendly. With 120K to invest you should have a leg up either way. 

Sounds like you put a lot into this investment. Lake Arrowhead is a beautiful area!

It looks like you used your resources and knowledge of the industry to your advantage. I think this is a great strategy that will be keep cash flowing into your pockets.

Congratulations on a BRRRR well done!

What @Tim Ryan said is money- getting heavily involved in one network is the best option if you're planning to invest OOS. Creating a network in which you are personally invested is always going to yield better results than being a nameless, faceless investor. 

As far as the initial choosing of your market- I would suggest an area that you already know at least in some capacity. Maybe you have family/friends there or you've visited and (somewhat)gotten to know the area.