All Forum Posts by: Jack Mawer

This is not something that I have experienced personally but something that many investors deal with as they scale their portfolio/find markets that are more suitable for a rental property then somewhere in their own state. I'm not sure if the virtual assistant or property manager would be a better call for check ins, but I would definitely recommend finding someone you trust dearly to help you out before you leave. Weekly updates at the minimum sound necessary and would be worth a little bit of extra comp for peace of mind. Best of luck! 

Yes you are right as the cost of money is becoming more expensive in today's climate. However, I still feel you can find hard money lenders out there who would fit this category. In terms of 10-15% down, are you looking for a lender who can also pay for 100% of the rehab cost? (as opposed to 10-15% of the total cost of the purchase price and rehab together).

I would keep leveraging up, you will most always cash flow on a MF unit even with the current rates 

A HELOC or looking for private money sounds like your best bet in this scenario. However, I would make sure that the lender you are going to will allow for these solutions (some lenders have seasoning requirements for funds in the bank)

I would highly recommend @Robert Finn as he is very knowledgeable about the market for investment properties in SA

I agree with Eliott about hiring a CPA - they will be the most educated person on this matter and will guide you to save money on taxes via rental property 

As others have said, a DSCR loan sounds like it would be a good fit for you considering it will just consider your FICO score as well as the properties ability to cash flow - no DTI, W-2s, 1099s, tax returns, etc - strictly an investment property loan.

I would recommend looking into a DSCR loan - strictly asset based lending and some lenders will even underwrite STR projected revenue if you are looking to purchase an STR without rental history.

It depends on seasoning, but you should be able to cash out refi with a DSCR loan - or a rate-term refinance to cover your existing hard money debt at the least.

If you are using a hard money loan, most lenders will lend a certain percentage (varies by lender) of the purchase price + rehab costs. You would still be able to do a rate-term refinance after the rehab is completed which would cover your hard money debt or you may even be able to get cash out of the property on top of paying off your existing loan balance, depending on your lenders seasoning requirements.