All Forum Posts by: Katie Smith

Hi Daniel! I work with a couple investor friendly title companies. Happy to send over their info - let's connect!

Hi Raymond! Florida native here! 

Im not a realtor, but i do know of many investor friendly agents here. I will gladly send over their contact info!

Hi Eddy! Most cities have a REIA (Real Estate Investor Association) that host monthly meetings. The first meeting is usually free, and then you can sign up to become a member and attend all the meetups! They have monthly speakers, and you'll meet investors, realtors, wholesalers, etc.

Hi Lau! Are you exploring a conventional loan or a loan specifically designed for rentals? This choice can influence the best path for you. Conventional loans are typically in your personal name, while investment property loans, like DSCR loans, will need to be in your LLC's name. For that, you'll want to ensure your LLC is already set up and approved in the state where you're operating.

Most lenders are fine with the funds coming from your personal account, especially if the LLC is newly formed. Later on, if you decide to open a business account, you can typically switch the account for your loan payments without any issues.

Hi Tannia!

That's so exciting that you're diving into the rental property world! Have you had a chance to check out any local meetups or REIA (Real Estate Investors Association) events? They're a fantastic way to connect with local investors who can share their experiences and recommend trusted professionals they work with.

You’ll likely meet key members of your team at these events, including insurance agents, title companies, lenders, realtors, and even wholesalers. It’s a great way to build a strong network and build relationships!

Best of luck as you get started—let me know if there’s anything I can do to help!

Hi Gianfranco! 

I'd be happy to help here. I'm not a realtor, but I have a client who does a lot of deals in Jax, so I can ask them for some recommendations. How are you planning on funding the deal? Have you heard of a fix-and-flip loan? Lenders can generally lend you up to 90% of the purchase price and 100% of the rehab budget. It's definitely something worth looking into.

Hi Vincent!

As many have mentioned, most fix-and-flip loans allow lenders to fund up to 90% of the purchase price and 100% of the rehab costs, but they typically won't exceed 75% of the ARV.

However, If you're not including a rehab budget, lenders often cap the loan at around 70% of the purchase price, which might explain the situation you're encountering.

It’s generally more advantageous to include a portion of the rehab budget in the loan. Just be sure to choose a lender offering non-Dutch interest on the rehab funds, meaning you only pay interest on the rehab portion if you actually draw on it. This provides you with a safety net for any unexpected expenses during the rehab process while also potentially allowing you to secure higher leverage on the purchase price.

Hi Hunter,

It sounds like you've built a solid foundation in real estate with a variety of experiences—that’s awesome! Transitioning from construction equipment rentals into full-time real estate must have been a big step.

I can relate to your passion for finding deals and helping others reach their goals—it’s such a rewarding aspect of being in this industry. I'd love to connect if you or any clients are ever in need of financing for rentals or renovations!

Hi Chad! Nice way to house hack! What are you focusing on this year? More rentals or any fix & flips?

Hi Matt!

I’d suggest exploring a bridge loan that covers a portion of the purchase price along with 100% of the renovation costs. This type of loan can be a great short-term solution to help you acquire and improve the property before refinancing into a long-term loan or selling it for profit. Let me know if I can help!