All Forum Posts by: Alexis Sostre
Alexis Sostre has started 7 posts and replied 55 times.
Post: Should I stay or should I go?
- Lender
- Los Angeles, CA
- Posts 63
- Votes 15
Im in LA, Where exactly is the Land? What are you planning to do with the land?
Post: Is it possible to get lending
- Lender
- Los Angeles, CA
- Posts 63
- Votes 15
Many lenders will treat it as real property, which opens the door to fix-and-flip or renovation financing. However, "Bric on pending" suggests the brick underpinning is in progress. Most lenders will require that work and the detitling paperwork to be fully complete before closing on the loan. Appraisers will also check HUD tags and compliance with manufactured housing standards. If the detitling hasn't been fully recorded yet, you'll likely need to Finish the permanent foundation work on which you said has a foundation already, Get the final inspection/certification, Record the detitling with the county, Then apply for funding. Hope this helps!
Post: How Much Money Do You Need to Buy Your First Property?
- Lender
- Los Angeles, CA
- Posts 63
- Votes 15
Starting your real estate journey through house hacking in the Chicagoland area is a smart strategy, especially for first-time buyers. The amount of capital required can vary based on the property type, financing options, and your personal financial situation.
Post: Cash Out Refi or DSCR Loan?
- Lender
- Los Angeles, CA
- Posts 63
- Votes 15
Quote from @Kody Louchart:
Quote from @Alexis Sostre:
Have you thought of a Hybrid Approach by refinancing partially not max cash-out to free some capital, then supplement with DSCR loans plus your cash to acquire properties.
Thats absolutely on the table. I hate that with no mortgage i also have no write offs essentially on my current property and am not expanding my portfolio much right now. i figure leveraging some of that equity (450k or so in total equity in that property) as well as financing the other deals with a good down payment will alow me to scale and have the tax breaks at the same time. WIth the slow market in our area its a great time to get some deals on properties.
Absolutely! There’s strong potential here to scale your portfolio while leveraging valuable tax benefits that can enable you to pursue more deals in the future.
Post: Cash Out Refi or DSCR Loan?
- Lender
- Los Angeles, CA
- Posts 63
- Votes 15
Have you thought of a Hybrid Approach by refinancing partially not max cash-out to free some capital, then supplement with DSCR loans plus your cash to acquire properties.