All Forum Posts by: Jose Solis

Hi Everyone,

I ran into an issue. I am currently refinancing a rental property that i purchased 1 year ago and came to find out that there is an existing lien on the title prior to when I was owner. A few months ago I got a notice that their was a lien for code violations and paid $550 in fees. I thought that was it. Now that we are about to close on this refinance in the next 2 weeks turn out their is another lean on title for $1600. Is their anything I can do, besides pay another fee? Was this my fault, the agent who helped or title/escrow company? Any advice will help. Thanks!

Hey Jeffrey when you enter your bank account, if it does not automatically get verified that is when our underwriting team will reach out to you and ask for the deed of the property. It is asked for standard precautionary measures and protection for the users on the platform. Hope this helps! 

Hey Gabriel,

I would check out the bigger pockets calculator. They have some nice tools that do help you analyze a deal and you can determine if it is a good deal for you. But in terms of the rent $2200 a month not all is profit even if you pay cash. You do have to consider taxes, insurance, vacancies, Cap Ex, and repairs. 11 people does sounds like alot maybe finding 1 or 2 that can bring the downpayment, you find the deal that is undervalued and BRRRR it and pay back your investors. Just an idea but happy investing!

I am interested

Hi John,

I am currently in the process of refinancing into a DSCR loan. I would recommend the One Brokerage, David Greene team. I believe they work in all 50 states I would definitly reach out! Hope that helps!

https://www.the1brokerage.com/

Hi Blake,

I am actually in the process of getting a DSCR Loan for an investment property I am refinancing. From all the lender I've talked to they usually require a 620+ Credit score, 20-25% down payment and as long as it has a 1:1 coverage Ratio you can get a 30 year fixed rate. Some dont require employment verification, as long as the property is producing some sort of income.

Hey Antonio 

Congrats! I think 10-20% is definitely doable, but there is some work that will need to be done! You can definitely buy a cash-flowing small multi family 2-4 units, but with that money you can definitely get into a bigger deal depending on the market. For example, I closed on a property in Bakersfield Ca that should be hitting an 18% COC return, but I had to put a lot of sweat equity into that deal. There are other turn key deals that can get you smaller returns all depending on the market. I would suggest choosing a market, deciding an asset class and start crushing it! You got this!

Hi Owen, welcome!
I would suggest creating a strategy that works for you and focus on one thing only. Whether it be wholesaling, fix and flip or long term rentals. Choose one and stick with it and you be amazed at what you are capable of doing!

Hi everyone, I am looking to wholesale a deal or two in the next 6-12 months. I am not completely new to real estate as I am a buy and hold investor, but have never wholesaled a deal before. I understand the fundamentals of real estate, rehabs, arv etc from an investor standpoint. I know the outlines of wholesaling, obtaining leads, talking to motivated sellers, comping, and finding a buyer. I found my other investments through off market, but what would be the next step? Just start calling or any recommendations? Like I mentioned I am looking to wholesale a deal or two in the next 6-12 months and recycle that money into long term investments and would love to hear any input/feedback. Any tips would help! 

Awesome to see! Quick question did you wholesale this deal or you kept it for yourself?