All Forum Posts by: Corwyn Oliver

Hi BP pros,  

I have some buy and hold rental property, some acreage and several lots that are good for building new SFR or multifamily. If I build, I would like to sell or maybe hold them and pull the equity out to keep buying new rentals. I haven't been investing long but I have about 990,000 in equity (estimated based on sales price of comps in the area). I need about $130,000 to do some repairs. I would like to use my equity to buy more rentals, or build more properties or expand outside of the rentals into rv parks, storage, or tiny home villages. My 'thing' is to make sure I use the equity correctly to keep scaling up and to move towards financial independence. I am looking at a DSCR loan (75-80 ltv plus FEES) but I wonder if there are better products that can allow me to utilize a bigger chunk of my equity to move forward. Would you use the DSCR loan or is there a better product out there? What would be your strategy? What I think I want to do is pull enough money out for the repairs, find a lender that will allow new builds with 0% down since I own the land I mentioned and then buy other multifamily properties with creative loan products they you guys may posts about after reading this or else buy them with (insert ominous music here) the remaining cash with from my DSCR cash out. So I wand to build and I want to buy. The problem I think I have is after do repairs and buy a couple of multifamily complexes will that grind me to a halt once all of that equity is gone - or am I missing something here? So again my questions are would you use DSCR or something else? And what would you advise as a strategy.

Thanks!!

@Jeff Greenberg - Thanks, for your response.  I will reach out to him shortly.  

@James Moore - I'm looking in the Marshall, TX, Longview, TX area.  

Hi BP family.  I have a property that I'm looking to renovate and rent out as a multifamily investment property.  It is a 40+ year old commercial building that I have a couple of floorplans that I may use for the rebuild.  It is a two story building in area that, it has a good foundation and the exterior is made out of cinderblocks - EVERYTHING else will have to be redone so it is a full job.  I need you guys to weigh in two things (and anything else you think I need to know).  

1) Can you suggest a renovation contractor in the Shreveport, LA-Marshall, TX-Longview, TX area that has expertise in this type of renovation?

2) How can I determine if the property will rent well in the area?  How do I determine how many units, how many bedrooms construct?  

I'm still doing my homework but I need help so that I don't talk myself out of a potentially good investment.  Helllllllp!