All Forum Posts by: Karen Jackson

I purchased my first rental property, but having a difficult time refinancing due to loan to value.  My spouse's credit is much better than mine.  Can I sell the property to him because he will get a better rate for refinancing?  

Hey @Terence Hyacinth!  Just saw your post regarding setting up a bank account in ATL.  Did you find a bank suitable for your needs.  I just purchased my rental property and would be interested in what bank(s) you found.

So @James Mc Ree, I have a hard money loan, is there a right or better way accrue value for the property for external cosmetic upgrades for the hard money lenders who will be appraising the property?  Also, typically how long should you wait before attempting to get refinancing?

Thank you all for your input!!! So as a follow up question, is it feasible to raise the rent with general exterior projects?

I have just purchased my first rental property (2 bedroom 1.5 bath) townhouse.  I have tenants currently living in the property and paying rent.  The condition of the property is fairly good, however I want to make a few cosmetic adjustments to the exterior;  such as painting the trim and replaying a front screen door, etc to add value to my investment.  What other exterior projects could I do to add value to this property?  Should I attempt to do interior projects while the tenants are still there?

I am running analysis on different homes looking for that "good" deal to purchase my first rental (single family) property. I have zero experience which makes it a little challenging to get lenders to trust that I will repay their money back. I have a good credit score (740+), but not sure if I should I get preapproved for a mortgage loan or hard money loan first (before finding a property)? Where do I start and will I need an LLC first so that the (borrowed) money is NOT in my name? Thanks for any help you can give.