All Forum Posts by: Arsen Atanasovski

Quote from @Scott E.:

The real question is who scared more people out of investing in Detroit - Eminem or Josh Dorkin?

Don’t forget David Greene! :)

I can help out with any properties you are interested in or if you want me to put you on an auto email. Send me a PM with your enail

Property owner will be contacted, these appraisers are third party ordered from the lender so they wouldn’t want the buyer involved nor have the buyer do any of the tasks in some cases the buyer can not even receive the report 

Come on Travis you beat me to the point lol! Jk

I invest in the city of Detroit all I can say is if you don’t have boots on the ground you’ll be live bait for the rest. Detroit like every metro area has good areas and not so good areas of investing. And last but not least if your only looking for cash flow then Detroit is king of your looking for appreciation Detroit is not your best option there are other areas that of course appreciate better.

Quote from @Joel O.:

Quote from @Jonathan Taylor:

@Joel O. try to quit claim out of your personal name into an LLC if your conventional loan allows it, saves on refi costs if the lender allows it. In my experience, conventional lenders usually do not but asking is free.

DSCR rates will be higher than your conventional loan but some, not all, DSCR lenders do not report to credit so your DTI would better for your next conventional loan.

Would simply deeding the property out of my name to the LLC actually remove the DTI entirely? The loan itself would still be in my name but the property only would be in the LLC.

Be carful with this ask your lender if there is any acceleration clause, if you quick claim it or transfer the deed and you have this clause you will receive a nice letter in the mail to pay the loan amount in full:) also by just transferring your name on the deed doesn’t transfer the loan that was applied and approved under your name. The deed can be simple deeded to Santa Claus but the loan is approved by you. If you have a few properties I would look into a blanket loan and refi all of them under a business entity this way it removes all the loans off your name and the deeds get transferred as well 2 birds one stone. You will have to sign a personal guarantee but trust me I’ve done the same and later on when I ran my credit none of my properties showed up. If your a W2 that comes up, your income on your properties is up to you how you want to use that income 1099 to yourself or keep it in the account for business use and accumulate more property etc…..

Quote from @Joel O.:

Quote from @Arsen Atanasovski:

If you got a new job good luck on getting a loan if your plans are to buy real estate with conventional lending you really need all of your T’s crossed and i’s dotted it’s up to you but if your planning to scale you will eventually need to start creative financing it’s the fastest and I would say the easiest and cheapest way to get in on deals faster 

 The conventional was for a primary residence, not an investment. 

My main question was to determine how people are getting 10 properties in their own name without affecting their DTI.

Now I fully understand that they are mainly using non-conforming loans.

Anyways you wouldn’t want all those properties and loans on your name not good for business nor to scale up. You might pay a little more in rate but this is asset investing and not a liability like your primary home unless your house hacking it then it becomes basically an asset but in order to do that you need to buy a multi or rent your rooms out etc…..

If you got a new job good luck on getting a loan if your plans are to buy real estate with conventional lending you really need all of your T’s crossed and i’s dotted it’s up to you but if your planning to scale you will eventually need to start creative financing it’s the fastest and I would say the easiest and cheapest way to get in on deals faster 

10 land contracts, no DTI just Income:)

At number 10 and I hope you get there but by then you will be creative in figuring out ways to get that many properties.

Quote from @Drew Sygit:

@Arsen Atanasovski shoot me their metrics to see if worth chasing please

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