All Forum Posts by: Benjamin Piecenski

Hey @Johnathan Owens, what's your schooling and/or work history like?  You may be able to jump directly into an LO position if you find the right place

@Daniel Graham Wright You are right on the money that Columbus is very competitive right now. Inventory is super short, and prices have been trending up to reflect that. However, there are still plenty of properties where the numbers work out and are great investments. You may be hard pressed to find a 4 unit that is in a better area that isn't priced at a premium. Let me know if you have any questions about the VA loan process! Also, I'd reach out to @Brandon Sturgill on his (better) insight on this.

Welcome to BP, @Josh Cullen!

Welcome to Bigger Pockets @Jordan Rossi, from an Ohioan to an Ohioan!

Hey @Keith B.!  What are you considering large reserves requirements?  For our jumbo program, we just require 6 months reserves.  Let me know if you have any curiosities or questions

I don't know any private lenders who lend on down payments, but there are plenty of down payment assistance grant programs!

@Chris Taylor We charge a flat $1125 origination fee, and our fees cannot exceed 5% of the loan amount.  This puts our minimum threshold at just above $22,500.  The main issue on properties at this price point is a good portion will not meet the bare minimum livable condition requirements during appraisal

Do you fill out taxes on your passive income?  Lenders will be looking at your tax returns when determining your income.  If you write off a lot, it counts against you in your income (except home depreciation).  You can cosign with a family/friend who has sufficient income if you don't have enough with your current passive income

@Melissa Andress What is your credit report looking like?  Any derogatories?  Getting your credit score above 720 is key in getting your next few properties at a better interest rate, and also higher credit scores will lower your insurance bill as well.  Are you keeping your credit cards under 30% balance to credit limit? 

@Melody Stevens Who is your servicer?  It may vary from servicer to servicer, but I've seen clients with $400k in student loans take them in and out of deferment