All Forum Posts by: Bradyn Melser

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Wow, thank you for these details. Once everyone started writing about DSCR loans, I did a deep dive. This is a great detailed answer though. Thank you!

Thank you for your response, Alex. So does a DSCR essentially function more like a business loan, but wrapped in a mortgage? What I mean is, the bank will look at the value of the property and the viability of it successfully producing net cash?

Hey community. I've been investing for a little while in rentals. I've done a couple methods (including the BRRR). I now have 4 cash flowing rentals and am loving investing, but I have a problem. I hit my DTI with the acquisition of my last 2 properties (I did them in one go). How do I keep acquiring properties and getting them under a mortgage?? No one seems to answer this for me.

Other helpful information:
My income isn't huge, but I've got enough to continue to scale for now. The only debt outstanding I have are these 4 rental properties. 2 I have amazing rates on (3% and 3.5%) and have a decent amount of equity now. 

Hey BP fam. I am a newer investor. I have 2 rental properties - one I just bought to get into the REI game, the second I did a BRRR. I really enjoy real estate and want to continue growing my portfolio. I have a decent amount of cash, and access to private funding. However, with only 2 homes my debt to income ratio is almost maxed. These are my ONLY sources of debt. I don't bring in tons of money, but am in a career where I am able to save most of it (about 1.6k a month). Also both of the rentals are under a year old, so I haven't shown income on taxes yet.

So my question is this: Is there a way to keep growing this faster than just saving to buy a property cash? It seems like I hear of these people who are buying 10-20 properties a year... How do they do that without overextending their D2I ratio?

@Nicholas Covington

I’m trying to understand seller financing better, as it seems like a great way to negotiate and find win win deals. So when you talk about refinancing on a seller financed property, can you only refinance the portion you have, essentially your equity? Or can you refinance the whole amount?

If you can refinance the whole amount, are there penalties or disadvantages to paying the seller financing off early?

I do not yet have a deal done, but have a couple properties I have put offers in for. I would also love to know of a lender who does 80/20 cashout refinances. My credit score is great and properties would be cash flowing. 

@Steven Rubino, wow! Awesome job! I also really needed that encouragement to do a BRRRR. Although there are many "safety" features in a BRRRR, there are also many factors that can change the deal. Thank you for sharing!

@Kendall Short

What were some ways you added value to the rehab, and what were some ways you saved money on your rehab?

Also, how did your appraisal process go? I'm currently looking to do a BRRRR here soon, I just am nervous with the ARV and the appraisal not being similar.

If your getting an appraisal for a refinance that you are renting, are they mainly looking at comps or at the rental amount? And if it is more heavily based on the Cap rate, how do they evaluate that? For example, if I had a rental property that was renting for 950/month, would they pin it to a 1% rule and assume the property is work $95,000?

I'm getting ready to BRRRR and nervous knowing how big of a swinging variable the ARV could be.