All Forum Posts by: Jose Sanchez

@Doug Pretorius Yeah, agent is involved. Seller is willing to do seller financing but wants 40% down. I might as well do conventional loan or DSCR at that point. He's being very greedy selling for 17.5% from when he bought it for last year and made zero changes. The market in that area has not appreciated that much either. It will sit on the market for awhile, nobody is buying it at 1.4. The agent is probably hyping him up that he will though.

@Todd Kime It’s in Long Beach, CA Seller wants 40% down though. Which I could just get a conventional loan at that point.

I am very interested in a property that is a SFH and has two ADUs on it. I am not in the perfect position to qualify for the home the traditional way though lenders, for now. I can easily afford the payment at market rates or maybe a little higher. I wanted to present a self financed option but have not dont this before. I know they have the home paid off, just not sure if this is the best approach or if theres some other creative financing that I can leverage? Any Ideas?

Property is 1.38-1.4 million and I have about 200k to work the deal. Property would upgrade me to a bigger home for my growing family and the ADUs would provide extra income (4k a month) as well as my current home would rent and cashflow a tiny a bit. 

Open to all suggestions. 

Hello! I'm currently in the process of purchasing another investment property. I’m very hands-on—I’ve already found and negotiated the deal myself. I typically bring an agent on board once I’m ready to submit an offer, and in the past, they’ve received the standard commission rate.

For this deal, I’m looking for an agent who’s open to working on a flat-fee basis, as the scope is limited. I’ve already handled the following:

• Negotiations with the seller’s agent

• Financing and lender setup

• Escrow and title arrangements

• Full due diligence on the property

All I need is someone to formally submit the offer and manage the paperwork through closing.

If you're interested in a simple, flat-rate arrangement for this transaction, please reach out and let’s discuss the details. Only looking for this service. 

Thanks!

@Brandon Croucier I would live in the main house of the new property that’s a 3/2. I currently live in a 2/1 but have a kid on the way and need the extra space.

The new property also has two back ADUs that will rent for 4k total per month.

I’ve lived in my current home 2 years.

@Simmy Ahluwalia DTI can be below 40% or wherever it needs to be. I'm carrying some interest free credit cards that are killing it in crypto right now.

My credit score it around 720 with those cards that I currently owe that could be paid off.

Looking to fund a second home.

I am currently house hacking a two unit property using a VA loan. I found a perfect next home that's a SFH with 2 ADUs in the California.

I’m looking at funding options. I have about 250k liquid to make the deal work. The house is 1.3 mil.

My current home would pay for itself once I rent out my unit. Not interested in selling at all.

The next property I want to either live as a second home using a conventional loan or other funding vehicle if it means just getting it as a straight investment property. Looking for suggestions and lenders to work with to make the deal happen. Considered DSCR but the ratio is too low with how much I'm trying to put down.

I am looking to do a DSCR loan on a great deal I found as this seems like the only funding option. It is my first time using this product and having a hard time finding a broker that has lots of options with DSCRs and would be willing to work with me. Any help on where to go to find a broker for this product?

@Sean O'Keefe Thank you Sean. I’ll have to find a CPA that’s familiar with this type of thing. Seems more than my current tax professional can handle.

@Ali Nichols It’s so difficult to find anything on this since it’s a semi new thing. Even CPAs I’ve talked to can’t give me a straight answer.