All Forum Posts by: Ko Kashiwagi

Hi Michael,

Seems pretty good on paper! You calculated appreciation as 400% instead of 4%. During or before inspection contingency, it'll be beneficial to ask for the current tenant's information. Any information would be beneficial (rent ledger, rent roll, tenant's FICO, etc). I recently dodged a bullet during inspection period when I found out the tenant was not screened thoroughly.

Hi Marco,

Is it currently a different parcel?

Hi J,

It can change by whether you have a revocable or irrevocable trust. In general, financing is more difficult to obtain with a trust than a LLC. Best to talk to an attorney.

^

Hi Raza,

Is this a rental property or a primary? You could get a 30 year fixed mortgage and lower your LTV so that your monthly payment is manageable. If it's a rental, you can structure the loan so that the monthly PI is lower than the rent income.

Hi Joseph,

Congrats on your first house hack! BRRRR is a great way to scale your portfolio. It is more difficult to execute in this market, but it's doable. Does your current house need any repairs or have room for growth? If so, it would be a great idea to do a house-hack BRRRR so you can gain hands on experience before you take more risks.

Hi Martin,

What was the reason for not being able to get a DSCR?

Hi Michelle,

Were you completely denied of the mortgage or were you just capped on a lower LTV? If your husband has some income with 2 years of record, there should be some room for the DTI. Otherwise, you could use a DSCR financing that doesn't look at income/tax returns. DSCR financing is based off of rent/PITI and your credit score. It can even take short-term rental income as a basis for qualification.

HI Imdad,

Not that I'm aware of for less than 20% down. There are lenders that can do less than 75k loan amount though.

Hi Nicholas,

The choice between rental vs flip/BRRRR would vary by how active you can be on the deal. If you have extra time on the side and have higher risk tolerance, flip/BRRRR would be a faster fay to scale. Between flipping or BRRRRs, it sounds like a matter of whether it's a market you'd like to rent or not. For example, if you don't like the area in terms of the rental market (ex. high crime area, rural, low cash flow, no appreciation), it would make more sense to just to flips. BRRRRs are also more difficult to pencil out in this market, but still doable.