All Forum Posts by: Abbey Humphreys

Hey Jared- If you're just starting, I would suggest starting small and simple. House hacking is a good first move into the REI world, as is investing in small, multi-unit properties. Immediately starting out with an enormous project like a multifamily development (a high risk deal) is a mistake for most. Not to say it's impossible, it's just likely ill-advised.

Your credit will be pulled if you are working with a fair, reputable lender, but there are lenders that work with first-time investors and are willing to put in the time and effort into coming alongside those that are new to the industry.

STRs often have a higher income potential, owners are able to adjust prices, more availability to utilize property for personal use, tax breaks, far easier to resolve tenant issues, etc. However, STRs do require more management and can be a more volatile market. It's really about what you, the investor, are looking for as far as REI.

Definitely a charming house - looks like you made the best of this situation. Congratulations on a finished project!

That all looks ideal! Sounds like you put a lot of sweat equity into your investment. Super impressed with this! Congratulations. 

Hey Sonya- here is a thread from last year asking essentially the exact same question and there are some different answers: https://www.biggerpockets.com/...

 All of these are great advice. MeetUp and BP have great events and so does EventBrite. I found this one in the SF area: https://www.eventbrite.com/e/r...

Hey Travis- Bigger Pockets has a list of preferred DSCR lenders. This would be a good place to start with regards to choosing a specific lender.

Not all DSCR lenders will charge multiple points in origination. Also, some DSCR lenders will send you a breakdown of exactly what makes up their fees when it comes to the expenses associated with third-party items.

A great option for you is a DSCR loan. If you borrow through an LLC and utilize a DSCR loan, your credit won't take a hit. A switch to a DSCR loan through an LLC in lieu of conventional financing is a switch often made by investors once they get to property #5 or so.