All Forum Posts by: Brandi K.

@Taylor Johnson make sure to get a flood insurance quote. It is very expensive and If you have a mortgage they will require you to have it.

@Jacob Matlock don't be afraid of the age of the building. I own ones that were built in the 1800's. Look for value adds to bump up rents and possibly BRRR. With your HELOC payment there's not much meat on the bones. Depending on location/tenants a PM isn't necessary either!

@Jeremy G.

Most DSCR lenders require a 1.25 or a little higher to qualify. That includes all expenses. Taxes, insurance etc. Some lenders will have calculators on their website so you can easily see if this property would be a good candidate for DSCR or

not.

@Ty Johnson I use Quicken. They have a version built for rental property.

@Tanner Johnson you should try a local bank and talk to their commercial lender.

@Alvaro Rodriguez The agents would still get paid the same way. You should have an updated contract spelling out your owner financing. An attorney can prepare the note for you.

Owner draws is how you pay yourself. You don't have to do anything fancy. You can simply write a check from your LLC to yourself and book as owner draw.

I specifically state in their lease they are not allowed to hang tvs on walls. So far I have never had anyone complain about it or put one up anyway.

@Jonathan Scheeler you might want to take a look at Innago.

@Aron Schlabra you need a dscr loan. They don't look at your DTI they look specifically at the property. They will take into account your credit scores and interest rates will be a little higher.