All Forum Posts by: Ko Kashiwagi

Love the Mobile area in AL. NV has strict lending laws so not all brokers can do both states. Happy to take a look

It's lender specific, so I'd recommend pursuing the refinance with a lender that doesn't require it in your case. You should be able to get a DSCR financing without including the PM fee in the calculation as well which would give you more leverage. Some don't even require occupancy at time of closing!

Have you gotten any bids from contractors in the area? Once you get one estimate, you can have an easier time ball parking for other deals.

Which market are you looking into? There are first timer options out there, but usually those programs close relatively less quickly (20-30 closing) from what I see in the market

 My contact is in the signature, feel free to ring or message me on BiggerPockets

Typically, yes, most programs will require anywhere from 10-25% down. The leverage you can access is typically contingent on the credit score, experience, loan amount, ARV, purchase price and property location

Where's the property located?

Love to see the ambition. Are you planning to go from 3 to 50 just based on rental income or with value add? It's tough to get to that scale without having a massive driver of income or value add. Good luck!

Hi Ted,

Yes, it's definitely a tougher market. I've personally am making more aggressive offers to make the numbers work and focusing appreciation.

Condos can have lower purchase prices, but SFH usually have better outlook on appreciation. If your priority is low cash entry or cash flow, condo or out of state investing can make more sense. A 2-4 unit may even make sense - although purchase price will be higher, you can offset the monthly payments with the other units. If you believe the area will appreciate heavy, I personally would opt for SFH.