All Forum Posts by: Cheryl Alarcon

@Nicholas L. I wish I could start locally, but I’m located in Southern California where everything is still over priced. As a new investor I can’t even afford a fixer upper in California, that’s why I’ve been searching out of state. 

Hello! Is anyone investing in Detroit, MI? I’ve seen houses on Zillow for only $2500. Granted they are just shells, but I’m wondering with a full renovation if the area has potential for long term rentals. What are the property taxes and insurance rates like? 

Are there any lenders in NV that can do a DSCR loan? I found a few condos in Las Vegas I'd like to see if I can get qualified for. Thanks!

I did a cash out refi on my 1 rental last year before the market blew up, I notice it’s starting to cool down a bit down. Where can I find cash flow rentals? I’ve been sitting on this money and would like to put it to work. Id like to use the money as a down payment on a loan, don’t want to use the full amount to buy anything cash. Thanks! 

Hello! I live in Southern California, but I am looking at several other states to buy investment properties in. Is there a lender that can prequalify me for all states? Or do I need to keep getting pre-qualified every time I want to put an offer in a different state?

This would be for a conventional loan on an investment property (Fourplex) with 20% down. The offer I want to put in today is in North Carolina. 

Thank you all for the responses. I reached out to a commercial lender and they could only help if the property was 5 units or more. I'll try to reach out for a few more commerical lenders. 

Hello. Looking for some help. I found a condo I want to buy and use as my first air bnb property, but my realtor says I have to pay cash. Is this true? I have the cash, but I'd like to hold on to some of it for other investments. I was hoping to only put 20 -30% down on a conventional. How did you all fund your first air bnb?

My realtor said because this condo is considered a vacation home and not an investment or primary residence, that the government will not fund the loan. 

Thank you all in advance