All Forum Posts by: John O'Leary

It's just about finding deeply discounted or off-market properties. Consider using platforms like investorlift.com or networking with reputable wholesalers in your area. You can also approach sellers directly to explore opportunities in distressed situations

Welcome to BP Peter!

Hey Jorge,

Hard Money is a short term solution. You can look at a DSCR loan but depending on how you have everything structured that might be difficult.

1.) Are the tenants shareholders in the Corp?  This would presenting issues in UW as Owner Occupied.

2.) Is it just occupied by the room, or are you looking to build out anywhere like Padsplit?

Hey Bud,

Educate yourself as much as possible while you save. Maybe find someone to partner with to get your foot in the door. Partnerships = rocket ships. Good luck!

Hello Jean,

Congratulations on taking action toward purchasing your quadplex! You might consider exploring refinancing into bridge loan with a rehab component. After rehabilitating the property, you can refinance into a DSCR loan if traditional financing isn't an option for you. They are qualified based on the properties income vs the payment.

If you plan on buying in your entity I would set it up prior to seeking any type of pre approval for financing. You will need it in place to submit offers, getting your POF/Approval letter, and will avoid delays once you have started the process. Discuss any pros and cons with your attorney and CPA to weigh the advantages and disadvantages, particularly regarding liability protection and tax benefits. GL!

Slack might be free. 

RTRLAW. Hope Richards is who we use. 

Hey Alazar,

Could you share the specifics of your buying criteria? This includes factors like price range, preferred locations, and any other preferences you have. For off-market wholesale properties, I recommend checking out investrolift.com. Remember to conduct thorough due diligence as these properties often require rehabilitation. Alternatively, you could consider marketing directly to sellers as another option. Direct mailers, cold calling etc. 

Welcome to BP Danielle,

It's all about education and taking action!! Bigger Pockets is a great place to network and learn.