All Forum Posts by: Darnell Kramer

Good day,

When you say you have a few lates, banks should still work with you, but you will pay a higher cost for the loan and/or need more down.

What it sounds like is that your Debt to Income is high and that is the issue.

Refinancing the multifamily that you are going to rent can use the rental contracts for the income, but you usually get 75% of the actual lease value.

Once you have contracts you can probably cash out refi to get money for a down on your next place.

Once you have that maybe flip the next instead of holding it to get more seed cash for your next hold.

HML lenders that I have worked with usually want a short term exit strategy, but I know there is a great podcast that should explain HML better.

As with any of this, just make sure that your real estate investing fundamentals are all correct.

Hope this helps. Keep at it.

Darnell

Good afternoon, I myself use a property manager when I deploy. They take care of everything and being only the year you should be able to cancel after. I get the rent disbursement directly deposited to my bank accounts. Additionally the mortgages, if you have them, can be put on auto pay through the bank account. Hope that helps. Stay safe.

Good afternoon, I am currently serving on the military. We are getting paid, but supposedly some accounts were delayed due to the late signing of the CR. Outside of the normal, legal, eviction processes you can contact me for some other options within the system. Good luck.