All Forum Posts by: Jerry Padilla

@Drew Sukovich

Welcome to the site! This is a great place to learn from others and educate yourself. One idea, is a cash out refinance on your primary residence. Rates are low and you can get in at a fixed rate for a long term plan as a buy and hold investor. This chunk of money can then be used to purchase several income producing properties. 

Here is some more info on cash out financing;

A cash out refinance is exactly what it sounds like. It is when you refinance your property and pull money out. pull money out of a property. The mortgage can either be paid off free and clear or can have enough equity in the property to make it worth refinancing and pulling money out. Cash out refinances are available on primary and investment properties.

• The typical cash out financing is done after 6 months of owning the property, based on ARV and available for mortgages #1-4. Please see delayed financing for less than 6 months after closing.
• On a primary residence you can pull out up to 80% LTV on a SFR and up to 75% LTV on 2-4 unit multi-families.
• On an investment property; A SFR if you have #1-4 mortgages you can pull out up to 75% of the equity and a 2-4 unit MFR is up to 70% equity.
• On an investment property; If you have #5-10 mortgages you can only pull out money in the first 6 months (delayed financing) that you own the property, if you didn't originally get a mortgage on the property. As long as the value is there (on a SFR 70% LTV and 2-4 unit 65% LTV) You can take out up to the purchase price plus closing costs on the property.
• If you are willing to pay the fees and go through two closings.... You can take out private or hard money on free and clear properties #5-10 and do a rate and term refinance with conventional to pull money out on them.
• PROPERTIES LISTED FOR SALE
  For a rate and term refinance transaction, the borrower must evidence that the listing has been cancelled, and must not have been listed for sale as of the date of the application.
  For a cash-out transaction, the borrower must provide evidence that the listing was cancelled at least six months prior to the date of application.
• Cash Reserves Required For Other Properties Owned by Investor;
  
  • If the borrower has 1-4 mortgages, an additional two (2) months for every other SFR investment property and second home is required and additional six (6) months for every other 2-4 unit investment property and second home
  • If the borrower has 5-10 mortgages, An additional six (6) months for every other investment property and second home.

@Kevin Chhum

Welcome to the site! 

You can start out with an FHA mortgage, and only 3.5% down. You can ask the seller to pay up to 6% towards closing costs (sellers concessions) you can purchase up to a Fourplex property.

Maximum Basic Standard Financing

Single - $271,050

Duplex - $347,000

Triplex - $419,425

Fourplex - $521,250

FHA Basic High Cost area limits are:

Single - $625,500

Duplex - $800,775

Triplex - $967,950

Fourplex - $1,202,925

Here is a site to look up Maximum financing with FHA;

https://entp.hud.gov/idapp/html/hicostlook.cfmMaximum Financed Properties

• The maximum of four financed properties includes the subject property.

Inducements to Purchase

• Certain expenses, paid by the seller and/or another interested third party, on behalf of the borrower, are considered "inducements to purchase" and result in a dollar for dollar reduction to the lesser of the sales price or appraised value of the property before applying the appropriate LTV factor. These expenses include:
• Contributions up to 6% of the sales This information is accurate as of the time of posting. Please also verify the accuracy of this information at the time you are considering these options as guidelines change.price
• Decorating allowances
• Repair allowances
• Moving costs
• Note—a dollar for dollar sales price reduction is also required for - Excess rent credit and gift funds not meeting FHA requirements Contributions exceeding the actual cost of prepaid expenses, discount points and other financing concessions

Credit Requirements

• Required is 600. FICOs below 620 have maximum DTI of 43% regardless of AUS approve/accept
• Minimum of 2 trade lines are required
• No more than $1,000 in disputed collections
• Must be all on time payments in the past 12 months of mortgage history
• No more than $2,000 in collections ........ Medical bills are excluded.
• Minimum of 2 years from Chapter 7 or 13 bankruptcy discharge
• Minimum of 3 years from Preforeclosure, short sale, deed in lieu, foreclosure from discharge date or release date.

Down Payment Requirements

• The borrower is required to make a minimum down payment into the transaction of at least 3.5% of the lesser of the appraised value of the property or the sales price. The borrower must have sufficient funds to cover borrower-paid closing costs and fees at the time of settlement. Gift funds are considered part of borrower’s own funds.
• 60 day history is required to verify the source of the down payment. Down payment can not be borrowed, from any source.
• Gifts may be funded by a family member....... But must be verified by 60 day history, and must be a gift with no requirement to pay back.

Reserve Requirements

• 3-4 Unit owner occupied properties must have 3 months PITI

Three (3)- and Four (4)-Unit Property

The maximum mortgage amount for the three (3) - and four (4)-unit properties is limited, so that the ratio of the monthly mortgage payment, divided by the monthly net rental income does not exceed 100%, regardless of the occupancy status.

Livable Conditions

1. The property must demonstrate the following characteristics:

A continuing and sufficient supply of safe and potable water under adequate pressure and of

appropriate quality for household uses.

Sanitary facilities and a safe method of sewage disposal. Every living unit must have at least one (1)

bathroom which includes a flushing toilet, lavatory/sink and a bathtub/shower.

A source of heat adequate for healthful living conditions.

Domestic hot water, and;

Electricity adequate for lighting and any mechanical equipment within the home.

Provide safe pedestrian and vehicular access from a public or private street. Streets must either be

devoted to public use and maintenance, or private streets protected by permanent recorded

Easements.

The remaining economic life, as determined by the appraisal, must be greater than or equal to the term

of the proposed mortgage.

Be free of any encroachments.

Utility Service must be permanently dedicated to the local municipality or appropriate public utility entity

as evidenced by recorded easements.

Up Front Mortgage Insurance Premium - For most of its mortgage insurance programs, FHA collects an:

• Upfront mortgage insurance premium (UFMIP), and
• Annual insurance premium which is collected in monthly installments

Mortgage Insurance Premium - For 15 year and greater than 15 years.

• 1.75% of purchase price

Annual Insurance Premium

• Greater than 15 years & greater than or = 95% LTV - 0.8%
• Greater than 15 years & less than 95% LTV - 0.85%
• Less than or = 15 years & Grester than 90% LTV - 0.7%
• Less than or = 15 years & less than 90% LTV - 0.45%

High Balance Loan Amounts

• Less than or = to $625,000 & less than or = to 95% LTV - 0.8%
• Less than or = to $625,000 & greater than 95% LTV - 0.85%
• Greater than $625,000 & less than or = to 95% LTV - 0.1%
• Greater than $625,000 & greater than 95% LTV - 0.105%

INCOME—RENTAL

Rental income from a borrower’s primary single family residence (boarder income) is not acceptable for qualifying.

Rental Income from the subject property may be considered effective income if the subject property is a 2-4 unit dwelling. Required documentation is dependent upon the length of time the borrower has owned the property.

Rental Income – Subject Property For FHA Mortgage

Limited or No History of Rental Income

Defined as when the borrower is purchasing or does not have a history of rental income from the subject property since the previous tax year.

If rental income is from other property owned other than subject, must show 25% equity in property by appraisal.

In order to calculate Rental Income from a 2-4 unit subject property, the following documentation must be provided:

�Fair Market Rent must be calculated using FNMA 1025/FHLMC 72 – Small Residential Income Property Appraisal Report; and Copies of existing or proposed leases, if available.

Calculating Effective Rental Income

� Any net rental income from the subject property must be added to the borrower’s qualifying gross monthly income by applying 75% of the lesser of;

o Fair Market Rent reported by the appraiser; or

oThe rent reflected on the existing or proposed lease agreement.

History of Rental Income.

When a borrower has a history of receiving rental income from the subject property since the previous tax year, the borrower must provide most recent Federal Tax Returns, including IRS Schedule E, covering the previous two (2) years

Calculating Effective Rental Income

� Any net rental income from the subject property must be added to the borrower’s qualifying gross monthly income after averaging the reported net rental income/loss reflected on Schedule E of the tax returns.

� When calculating the average net rental income/loss, any depreciation, mortgage interest, taxes, insurance, and HOA dues reflected for the subject property may be added back to the net income/loss.

� If the borrower has owned the subject property for less than 2 years, rental income/loss must be annualized for the length of time the property has been owned. 

If thinking of investing out of state, This is the best team to connect with in the Cleveland area! 

@Vinod Sirimalle

Welcome to the site! What a terrible loss from the condo, hopefully you can make up for it in the future with a successful investing career! With conventional financing, you can get up to ten mortgages. There are some great turnkey companies on this site. Turnkey-reviews.com can give you some ideas on different locations to invest in. I have done business with some really great companies located in OH. Locally, you have a lot of opportunity for appreciation. Purchasing SFR is a great start, as you can get in with only 15% down on the first 4 mortgaged properties, but are subject to PMI with less than 20% down.

@Upgrade Costello

Great to see you have all 7 properties free and clear! if you ever wanted to purchase more you can cash out on up to the first 4 mortgaged properties, to use as down payments. It is great to see you have so much success!

@Kit Peery 

Welcome to the site! It is a great site to learn from! I am not sure how many mortgaged properties you currently own, but you should consider BRRR Financing if you are able to. Here is some financing options, after you flip.

BRRR....... Buy Rent Rehab Refinance

CASH OUT FINANCING

A cash out refinance is exactly what it sounds like. It is when you refinance your property and pull equity out of a property. The mortgage can either be paid off free and clear or can have enough equity in the property to make it worth refinancing and pulling equity out. Cash out refinances are available on primary and investment properties.

• The typical cash out financing is done after 6 months of owning the property, based on ARV and available for mortgages #1-4. Please see delayed financing for less than 6 months after closing.
• On a primary residence you can pull out up to 80% LTV on a SFR and up to 75% LTV on 2-4 unit multi-families.
• On an investment property; A SFR if you have #1-4 mortgages you can pull out up to 75% of the equity and a duplex is up to 70% equity.
• On an investment property; If you have #5-10 mortgages you can only pull out money in the first 6 months (delayed financing) that you own the property, if you didn't originally get a mortgage on the property. As long as the value is there (on a SFR 70% LTV and duplex 65% LTV) You can take out up to the purchase price plus closing costs on the property.
• RATE and TERM REFINANCE - PROPERTY 5-10 If you are willing to pay the fees and go through two closings.... You can take out private or hard money on free and clear properties #5-10 and do a rate and term refinance with conventional to pull money out on them.

• PROPERTIES LISTED FOR SALE
  For a rate and term refinance transaction, the borrower must evidence that the listing has been cancelled, and must not have been listed for sale as of the date of the application.
  For a cash-out transaction, the borrower must provide evidence that the listing was cancelled at least six months prior to the date of application.
• Cash Reserves Required For Other Properties Owned by Investor;
  
  • If the borrower has 1-4 mortgages, an additional two (2) months for every other SFR investment property and second home is required and additional six (6) months for every other 2-4 unit investment property and second home
  • If the borrower has 5-10 mortgages, An additional six (6) months for every other investment property and second home.

DELAYED FINANCING EXCEPTION

Delayed Financing Exception

A cash-out refinance within six (6) months of a purchase transaction when no financing was obtained for the purchase transaction are allowed under the following parameters:

• The new loan amount is not more than the actual documented amount of the borrower's initial investment in purchasing the property, plus the financing of closing costs, prepaid fees, and points (subject to the maximum LTV).

1. 1. SFR mortgage #1-4 - 75% LTV
2. 2. Duplex mortgage #1-4 70% LTV
3. 1. SFR mortgage #5-10 -70% LTV
4. 2. Duplex mortgage #5-10 - 65% LTV

• The purchase transaction was an arm’s length transaction
• The purchase transaction is documented by the HUD-1, which confirms that no mortgage financing was used to obtain the subject property. The preliminary title search or report must also confirm no liens on the subject property.
• The source of funds for the purchase transaction can be documented (bank statements, personal loan documents, HELOC on another property). Any loans used as the source for the purchase transaction will be required to be repaid on the new HUD-1.

  Funds received as gifts and used to purchase the property may not be reimbursed with proceeds of the new mortgage loan. Funds of gifts are not allowed with investment purchases.

• All other cash-out refinance eligibility requirements are met and cash-out pricing is applied. This is allowed on primary residences, second homes and investment properties per cash-out guidelines.
  • Ineligible Transactions
    The following transaction types are not eligible as cash-out refinances:
    
    • The subject property was purchased by the borrower within the six months preceding the application for new financing except if delayed financing guidelines are met.
    • Investor and second home borrowers with 5-10 properties are ineligible for cash-out refinance transactions unless all of the delayed financing guidelines are met.
    • The subject property is currently listed for sale
    • The existing mortgage is a “restructured mortgage”
    • Transactions in which a portion of the proceeds of the refinance is used to pay off the outstanding balance on an installment land contract regardless of the date the installment land
      contract was executed.
    • The new loan amount includes the financing of real estate taxes that are more than 60 days delinquent and an escrow account is not established.

@Rashana Garcia

Welcome! Here are some ideas to assist you with building your network.

1. Profile Pic, Profile Pic, Profile Pic! No one is going to take you serious as an agent without a profile pic!

2. Fill out every section of your profile. The more information and detail the better! Here is the place to boast about your experience, what you can do for your clients, the background knowledge you have. If you are a new agent, Do you have experience as an investor? This counts to! If you are a new agent or experienced agent, what can you bring to the table?

3. Under Experience Section: List that you are a Real Estate Agent!!!! No one will know you are an agent unless it is listed under this section.

4. Next, Set Up the Pro Account. Yes, it is $29 a month. But face it, it is probably the cheapest marketing you will ever spend! There are too many capabilities for me to list here, with a pro account. Even just one lead a year, will pay for your membership here.

5. You get out of BiggerPockets, what you put into it. The more time you spend posting responses and assisting others. The more leads that will come your way. Set your signature up to attract investors, if they are interested in buying or selling and see your posts they will contact you. If you are a Pro or a Plus member than you can also advertise in the marketplace.

http://www.biggerpockets.com/pro

• You can request more colleagues
• Set up a signature to draw potential clients to your page
• Advertise once every five days in the marketplace
• Search for local investors, and see who viewed your page
• Set up additional keyword alerts.

NOW THAT YOU ARE ALL SET UP, TIME TO START CONNECTING, AND POSTING!!!

1. 1. On Your Dashboard in the right hand column you can click the title find local members. At this point you can start colleague requesting local members of biggerpockets.
2. 2. You can do searches on the site for local members and local forums.
3. 3. Jump in on conversations that have to do with your local market.
4. 4. Be your LOCAL EXPERT! AND THE LEADS WILL COME!
5. 5. Post information about your local area for locals and out of state investors to be educated on.

NOW THAT YOU ARE POSTING AND REPLYING AND STARTING TO LOOK LIKE THE EXPERT IN YOUR AREA.........

• Either attend a local meet up that is in your area (Meetup.com) lists many of them. If there are no local meetups in your area -create one. BiggerPockets also has many investors creating local meetups. If there is one already started, attend your local meet up group. If there are no local meet ups, then create a local meet up. If you are not sure what to make the meet up about - networking and or education is great. I would first start out with a networking meet up at a local restaurant.
• Take advantage of the marketplace. You can post an advertisement once every five days. List on here that you are an experienced investor and real estate agent in your area. There are so many local investors that are searching for mentors and experts in your area! They are looking for you and need to be able to find you when searching. If they have a keyword search set up that includes the marketplace, they will immediately see that you are one of the local experts that they need to connect with. It is going to take time to build relationships on here. Just as it takes time to build your business in the real world, it takes time to build your business on BiggerPockets.
• Ask for references! Any investors that you have worked with here on BiggerPockets or investors that are not on BiggerPockets. What investor do you know that couldn't benefit from becoming a member on BiggerPockets? This is a valuable tool that you can offer to your clients in the past. In return for the knowledge of this valuable website, I am sure they will want to give you a reference!

Sam,

Welcome to the site! Congrats on the wedding!

A few things to think about...... To obtain traditional financing the house must be in livable condition. There are rehab loans if not, I just don't know much about them as rehab loans are not my expertise. A wedding and a rehab as a first timer is a lot to take on in a very short period of time and may not be the best way to go in a time crunch with the stress of a wedding as well. A multi-family is a great way to go. Here is some info on FHA financing, which requires very little money down.

FHA Financing;

Single Family Residence or The rental units are an owner-occupied two (2), three (3) or four (4) unit property

Maximum Basic Standard Financing

Single - $271,050

Duplex - $347,000

Triplex - $419,425

Fourplex - $521,250

FHA Basic High Cost area limits are:

Single - $625,500

Duplex - $800,775

Triplex - $967,950

Fourplex - $1,202,925

Financing for Hawaii, Alaska, Guam, Virgin Islands -

Single - $938,250

Duplex - $1,201,150

Triplex - $1,451,925

Fourplex - $1,804,375

Here is the site to search by county for the maximum financing.

https://entp.hud.gov/idapp/html/hicostlook.cfm

Maximum Financed Properties

• The maximum of four financed properties includes the subject property.

Inducements to Purchase

• Certain expenses, paid by the seller and/or another interested third party, on behalf of the borrower, are considered "inducements to purchase" and result in a dollar for dollar reduction to the lesser of the sales price or appraised value of the property before applying the appropriate LTV factor. These expenses include:
• Contributions up to 6% of the sales This information is accurate as of the time of posting. Please also verify the accuracy of this information at the time you are considering these options as guidelines change.price
• Decorating allowances
• Repair allowances
• Moving costs
• Note—a dollar for dollar sales price reduction is also required for - Excess rent credit and gift funds not meeting FHA requirements Contributions exceeding the actual cost of prepaid expenses, discount points and other financing concessions

Credit Requirements

• Required is 600. FICOs below 620 have maximum DTI of 43% regardless of AUS approve/accept
• Minimum of 2 trade lines are required
• No more than $1,000 in disputed collections
• Must be all on time payments in the past 12 months of mortgage history
• No more than $2,000 in collections ........ Medical bills are excluded.
• Minimum of 2 years from Chapter 7 or 13 bankruptcy discharge
• Minimum of 3 years from Preforeclosure, short sale, deed in lieu, foreclosure from discharge date or release date.

Down Payment Requirements

• The borrower is required to make a minimum down payment into the transaction of at least 3.5% of the lesser of the appraised value of the property or the sales price. The borrower must have sufficient funds to cover borrower-paid closing costs and fees at the time of settlement. Gift funds are considered part of borrower’s own funds.
• 60 day history is required to verify the source of the down payment. Down payment can not be borrowed, from any source.
• Gifts may be funded by a family member....... But must be verified by 60 day history, and must be a gift with no requirement to pay back.

Reserve Requirements

• 3-4 Unit owner occupied properties must have 3 months PITI

Three (3)- and Four (4)-Unit Property

The maximum mortgage amount for the three (3) - and four (4)-unit properties is limited, so that the ratio of the monthly mortgage payment, divided by the monthly net rental income does not exceed 100%, regardless of the occupancy status.

Livable Conditions

1. The property must demonstrate the following characteristics:

A continuing and sufficient supply of safe and potable water under adequate pressure and of

appropriate quality for household uses.

Sanitary facilities and a safe method of sewage disposal. Every living unit must have at least one (1)

bathroom which includes a flushing toilet, lavatory/sink and a bathtub/shower.

A source of heat adequate for healthful living conditions.

Domestic hot water, and;

Electricity adequate for lighting and any mechanical equipment within the home.

Provide safe pedestrian and vehicular access from a public or private street. Streets must either be

devoted to public use and maintenance, or private streets protected by permanent recorded

Easements.

The remaining economic life, as determined by the appraisal, must be greater than or equal to the term

of the proposed mortgage.

Be free of any encroachments.

Utility Service must be permanently dedicated to the local municipality or appropriate public utility entity

as evidenced by recorded easements.

Up Front Mortgage Insurance Premium - For most of its mortgage insurance programs, FHA collects an:

• Upfront mortgage insurance premium (UFMIP), and
• Annual insurance premium which is collected in monthly installments

Mortgage Insurance Premium - For 15 year and greater than 15 years.

• 1.75% of purchase price

Annual Insurance Premium

• Greater than 15 years & greater than or = 95% LTV - 0.8%
• Greater than 15 years & less than 95% LTV - 0.85%
• Less than or = 15 years & Grester than 90% LTV - 0.7%
• Less than or = 15 years & less than 90% LTV - 0.45%

High Balance Loan Amounts

• Less than or = to $625,000 & less than or = to 95% LTV - 0.8%
• Less than or = to $625,000 & greater than 95% LTV - 0.85%
• Greater than $625,000 & less than or = to 95% LTV - 0.1%
• Greater than $625,000 & greater than 95% LTV - 0.105%

INCOME—RENTAL

Rental income from a borrower’s primary single family residence (boarder income) is not acceptable for qualifying.

Rental Income from the subject property may be considered effective income if the subject property is a 2-4 unit dwelling. Required documentation is dependent upon the length of time the borrower has owned the property.

Rental Income – Subject Property For FHA Mortgage

Limited or No History of Rental Income

Defined as when the borrower is purchasing or does not have a history of rental income from the subject property since the previous tax year.

If rental income is from other property owned other than subject, must show 25% equity in property by appraisal.

In order to calculate Rental Income from a 2-4 unit subject property, the following documentation must be provided:

�Fair Market Rent must be calculated using FNMA 1025/FHLMC 72 – Small Residential Income Property Appraisal Report; and Copies of existing or proposed leases, if available.

Calculating Effective Rental Income

� Any net rental income from the subject property must be added to the borrower’s qualifying gross monthly income by applying 75% of the lesser of;

o Fair Market Rent reported by the appraiser; or

oThe rent reflected on the existing or proposed lease agreement.

History of Rental Income.

When a borrower has a history of receiving rental income from the subject property since the previous tax year, the borrower must provide most recent Federal Tax Returns, including IRS Schedule E, covering the previous two (2) years

Calculating Effective Rental Income

� Any net rental income from the subject property must be added to the borrower’s qualifying gross monthly income after averaging the reported net rental income/loss reflected on Schedule E of the tax returns.

� When calculating the average net rental income/loss, any depreciation, mortgage interest, taxes, insurance, and HOA dues reflected for the subject property may be added back to the net income/loss.

� If the borrower has owned the subject property for less than 2 years, rental income/loss must be annualized for the length of time the property has been owned. 

@Sam Choi

@Jay Bhatt

Welcome! I see you are an agent as well as an investor. I see your profile also says that you are interested in multi-family investing, after 4 mortgaged properties, you will be required to have a higher down payment (30%) 

Here is some info to assist you with becoming a successful agent here on B.P. 

1. Profile Pic, Profile Pic, Profile Pic! No one is going to take you serious as an agent without a profile pic!

2. Fill out every section of your profile. The more information and detail the better! Here is the place to boast about your experience, what you can do for your clients, the background knowledge you have. If you are a new agent, Do you have experience as an investor? This counts to! If you are a new agent or experienced agent, what can you bring to the table?

3. Under Experience Section: List that you are a Real Estate Agent!!!! No one will know you are an agent unless it is listed under this section.

4. Next, Set Up the Pro Account. Yes, it is $29 a month. But face it, it is probably the cheapest marketing you will ever spend! There are too many capabilities for me to list here, with a pro account. Even just one lead a year, will pay for your membership here.

5. You get out of BiggerPockets, what you put into it. The more time you spend posting responses and assisting others. The more leads that will come your way. Set your signature up to attract investors, if they are interested in buying or selling and see your posts they will contact you. If you are a Pro or a Plus member than you can also advertise in the marketplace.

http://www.biggerpockets.com/pro

• You can request more colleagues
• Set up a signature to draw potential clients to your page
• Advertise once every five days in the marketplace
• Search for local investors, and see who viewed your page
• Set up additional keyword alerts.

NOW THAT YOU ARE ALL SET UP, TIME TO START CONNECTING, AND POSTING!!!

1. 1. On Your Dashboard in the right hand column you can click the title find local members. At this point you can start colleague requesting local members of biggerpockets.
2. 2. You can do searches on the site for local members and local forums.
3. 3. Jump in on conversations that have to do with your local market.
4. 4. Be your LOCAL EXPERT! AND THE LEADS WILL COME!
5. 5. Post information about your local area for locals and out of state investors to be educated on.

NOW THAT YOU ARE POSTING AND REPLYING AND STARTING TO LOOK LIKE THE EXPERT IN YOUR AREA.........

• Either attend a local meet up that is in your area (Meetup.com) lists many of them. If there are no local meetups in your area -create one. BiggerPockets also has many investors creating local meetups. If there is one already started, attend your local meet up group. If there are no local meet ups, then create a local meet up. If you are not sure what to make the meet up about - networking and or education is great. I would first start out with a networking meet up at a local restaurant.
• Take advantage of the marketplace. You can post an advertisement once every five days. List on here that you are an experienced investor and real estate agent in your area. There are so many local investors that are searching for mentors and experts in your area! They are looking for you and need to be able to find you when searching. If they have a keyword search set up that includes the marketplace, they will immediately see that you are one of the local experts that they need to connect with. It is going to take time to build relationships on here. Just as it takes time to build your business in the real world, it takes time to build your business on BiggerPockets.
• Ask for references! Any investors that you have worked with here on BiggerPockets or investors that are not on BiggerPockets. What investor do you know that couldn't benefit from becoming a member on BiggerPockets? This is a valuable tool that you can offer to your clients in the past. In return for the knowledge of this valuable website, I am sure they will want to give you a reference!

@Account Closed

The property would have to be in your personal name for any conventional financing.