All Forum Posts by: Katie Smith

Hi Lara! I have clients that are looking for a renovation in those specific areas. Do you have any deals there? 

Hi Eli! Depending on your credit score, I may be able to help you out. To qualify for 85% LTV, we need a 740+ credit score. I'll dm you.

I'm a Bigger Pockets preferred lender and would love to connect.

Hi Michael! Are you attending any networking events in person? I highly recommend finding some events to go to on meetups.com/Facebook/your local REIA website. Attending in-person networking events will offer invaluable opportunities to cultivate meaningful connections and foster genuine relationships. Through face-to-face interactions, you can establish trust, convey authenticity and leave a lasting impression that transcends digital communication.

Like everyone else said, it depends on the town. For example, if you are looking in Clearwater - you will need to be in an unincorporated area. If you get caught doing a STR in areas they are not allowed, you will most likely get a warning at first, and then they can fine you if you keep renting out short term.

Hi Henry!

Yes! 40 year terms generally have a slightly higher interest rate, but the 1st 10 years of the loan are IO (Interest Only) so the monthly payment will be lower. Do you have something in mind that would be good as a 40 year? Is there a reason you want to do a 40 year? I am always happy to send you a few different options on anything you have!  

Hi Errol! I see you're in Orlando! Do you attend any local meetups? My company is a sponsor at the GOREIA, so we are there every month and I also go to smaller ones in the area monthly. I love connecting with other people in the area that are looking to invest. 

Hi Ryan! Fastest option would be to sell it to an investor, and they either pay cash for it OR if it would qualify for a DSCR loan (for rentals) it can close in 25-30 days. How much rehab do you think this needs? What condition is the roof, hvac, plumbing and electrical in?

Hi Wayne! You can attempt to reach out to the HOA to see if they know if it's warrantable or non-warrantable. More times than not, they will not know but this is what the lender questionnaire is for. You can have it quoted as non-warrantable and if it comes back as warrantable, the interest rate and monthly payment will decrease a bit!

DSCR is the way to go for investment properties regardless. Just find a lender that can help you in both scenarios! Happy to help!

Hi Tyquan! I just closed a deal in Arkansas! What area are you looking in? Do you have a specific property in mind?

I work with new investors all of the time. I am very much a hand holder with new investors and will walk you through the entire process so that you understand it all. If you don't have an LLC created yet - I would jump on that ASAP. You will need the LLC to be registered, get an Operating Agreement in place, and file for your EIN number. If you have multiple people on the company, you ideally want the person with the highest credit score to have the most ownership percentages.