All Forum Posts by: Ko Kashiwagi

Hi Claude,

HELOCs are used usually for short term purposes. Like you said, flips or BRRRRs would he a good way to pay it off. If you are using DSCR refinancing, you can refinance quicker than 6 months.

Hi Albert,

Positive cash flow house hacks are very difficult to find in CA. However, if the net negative cash flow is less that the rent you are paying, it's still a win. You could also look into properties that have ADUs or do STR to increase rent.

Hi Alexis,

There are certainly options out there with 620, although your rates will be much higher and LTV maybe capped. What's the reason the credit score took a hit? It may be worth waiting if it can be increased in a short period of time

Hi Chase,

For rehab projects like this it's probably best to find private lenders that can go below 100k. Local meetups would be a good way to go. Otherwise, you could go for finding properties that are rentable and finance through DSCR

Hi Ryan,

You can do a delayed financing to get a mortgage based on your purchase price. There are also programs you can use with minimal seasoning (0-3 months) to get it based on the new value if you've done rehabs.

Hi Daniel,

Do you means of collateralizing assets you own for a short term funds like a primary residence or other assets?

Hi Franklin,

Do you have other means of borrowing money such as credit cards, equity in primary, equity in other investment properties, etc?

Hi Duane,

I presume you have a property with equity that you can pull out cash from? Usually HELOCs are for short term purposes so it would make sense if you can generate enough STR income to pay off relatively quickly

Hi Jalen,

You can go down to 20% on DSCR, but it's contingent on debt covering.

Hi Marcelino,

The Debt Service Coverage Ratio (DSCR) is a financial metric used to assess a borrower's ability to cover their debt obligations with the income generated from a property. Specifically, in real estate, DSCR is calculated by dividing the Net Operating Income (NOI) of a property by its total debt service (the total amount of principal and interest payments due in a given period).

To qualify for DSCR financing, make sure you have good FICO and enough liquidity for the down payment + closing + reserves!