All Forum Posts by: Daniel DeSurra

@David Robertson

Thanks for that great advice about estimating rehab costs! I’d be interested in checking out your spreadsheet if you’re still willing. I wasn’t able to follow the link you left.

Thank you @Albert Bui !

If I were to purchase a property using the BRRRR method using funds from my HELOC, when it came time to refinance, would the lender take into consideration my intention to pay off the HELOC balance with the funds received by the new loan?

My main concern is not being able to refinance due to DTI reasons. My credit and income are good but I'd like to learn more about how to calculate my DTI and know whether I am attractive to lenders, considering I already own 3 rentals that aren't cash flowing very much. The agent with Union Bank said the underwriters only count 75% of my rental income so I would show an overall loss on rental income which will affect my DTI.

Thanks for any more insight you’re willing to share!

Daniel 

Thank you Everyone. Very helpful. 

I'm considering pulling out an 80% HELOC on my primary residence to invest using the BRRRR strategy. Would doing so negatively affect my DTI or credit and make it harder to qualify for a conventional loan when refinancing? I currently only have 3 rentals so I'd prefer a conventional loan. I've heard financing gets a little tighter after 3.

Thanks for any advice you might share!

I'm also looking for a recommendation on HELOC lenders.

 I am also new to the BiggerPockets community and real estate investing. I am so impressed by the generosity that has been shared by everyone on this thread and the BP community as a whole. Having also just finished reading David Greene’s Long-Distance Real Estate Investing, I had the same question with regards to strategic locations to start looking out of state. I was honestly too timid to ask because I thought such valuable information would be held closely and secretively.  Boy was I wrong!  Thank you everyone for your great advice. What an amazing community.