All Forum Posts by: Chris Sanchez

I’m a banker.... the real answer is no. And don’t listen to anybody about a credit union, they have same guidelines. You would have to get a hard money loan and the numbers on the deal would have to be good enough for them to loan, they are loaning on the deal not on you. Job, dti, and ndi are number one factors for a bank/credit union loan. This is not pre 2008. 

I was wondering what the Bigger Pockets peeps out there think about selling in a hot market and taking the equity on a rental property that is cash flowing positive $700 a month with a current mortgage of $110,000 ($850 month pymt) and would probably net $200k if I sold. Stuck between wanting to keep cashflow or selling high and waiting for the market to drop and get back in. Would love some advice....thanks