All Forum Posts by: Cassie Paul

Hey Cassie, cash flow management is definitely the hardest part of growing a rental portfolio. You'll need to make sure you've got a way to find (probably off-market) deals where you can do some work, add some value and then refinance off of the appraised value. The 'new' debt service coverage ratio (DSCR) based rental refinance loans were designed exactly for your plan. Seasoning requirements can be as low as 3 months, which is a huge deal when you're trying to grow the rental portfolio quickly. The other great news on that front is that rates are in the 4s for 30-yr fixed, and cash-out refinances to LLCs are totally fine. Hope thats helpful.

Do I need to do off market deals when I can just put in 20% and then tap into that 20% that I put in. This way I am also avoiding PMI but using my money?

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Hello, looking for the best way to get to 5-10 rental units by end of the year. I currently have 3 properties: 2 rentals and 1 primary.

Primary appraised at 140k in January and I owe about 93k on it. Current mortgage is $850/month and rent would be $1500/month. No PMI.
**I would like to move out of here and rent it and purchase a new primary.

Rental #1 is not appraised, guessing about 300k value with 204k left on mortgage. Rented out at $1900 and mortgage is $1630. This includes $65 of PMI that I can probably remove if I got it appraised.

Rental #2 appraised last week at $158k, I have $118,400 left in mortgage. Rented out at $1450 and mortgage is $735. No PMI

I have about $115k in liquid cash. What is the best way to get to 5-10 units total? 115k is not that much in liquid cash as I grow more and will need reserves. Got conflicting info here, some said PITI on each property for 6 months in reserves. Another said 2% of outstanding mortgages in reserves. So I probably need 40k in reserves, depending on how many properties I get, which leaves me with about 75k to invest. So really only about 2 properties with 20% down in the 150k range.

Should I do HELOC or cash out refi to get more? What is the best way to grow quickly. Thank you!

Credit score is about 780 and 70k/year income.

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All Forum Posts by: Cassie Paul

Cassie Paul has started 1 posts and replied 2 times.

Post: How Do I Quickly Go From 3 Properties To 10 By End of Year

Post: How Do I Quickly Go From 3 Properties To 10 By End of Year