All Forum Posts by: Ko Kashiwagi

Is the property a turnkey? Just curious because most wholesale deals are not turnkey so they would go to hard/private money if it needs rehab.

Hi Shellie,

Which part of LA are you referring to? I know a couple especially west side

Hi Ravi,

I assume "min down payment" here means highest LTV? Happy to take a look. If the value is and DSCR is there, we go up to 80% on cash out.

HELOC on investment properties is not a widely available program but it does exist - however, typically the max leverage (CLTV) is lower than a refinance, usually up to 70%

Hi Sushree,

What is your budget for purchase price? I would recommend landlord friendly states as a start for out of state investors. I personally like Tuscaloosa & Huntsville but I know a lot of investors doing OH (Columbus, Cleveland), AL (Birmingham, Montgomery), WI (Milwaukee) and LA (Lafayette, St. Louis).

Hi Kevin,

Doing out of state investments without flying there is definitely doable with a good team. It would be a good idea perhaps for your first deal, but ideally you want to delegate and take advantage of the fact that you are in a position to delegate as an out of state investor.

You could probably narrow down to 1 or 2 markets by just talking to people online and doing research on the macro economics of the markets. Then, you can expand your network by finding an agent, PM, contractors and boots on the ground. 

Hi Joshua,

I've funded a couple of rentals there over the last few months. Happy to connect:)

Hi Troy,

Definitely worth looking around - if your current lender ends up having the best terms, you at least now know the you have a great lender. I've often seen quotes that come in wide range of rates so you might be surprised to when you see other quotes. I would make sure to check their reviews so that you don't get baited by a bad lender.

As far as appraisal, the lender is not supposed to influence the value, but you can provide comps/reports to the appraiser - it doesn't mean he will use it but at least you can help them out.

Hi Jordan,

How much is the extra rehab cost for splitting utilities? If you're keeping the property for a while, it sounds like it would be a good idea to say 300 a month given the breakeven number makes sense. I would also look at other comps and decide from there.

Hi David,

If you can rehab it now and sell it for her you might be able to avoid a lot of closing costs if you have the funds for the rehab.

If not, you could get a hard/private money loan but a lot of lenders don't allow non-arm's length transactions so it'd be important to check this beforehand.

Hi Bao,

You will need to have a new place before you close on the DSCR refinance, so you'd need to make sure to line this up in advance. However, I believe you should be able to right off most of your current debt if you are buying with conventional loan by indicating you will be moving out & renting it out. Depends on programs but I believe you can use 75% of market rent as rent and reduce the liability to make your DTI look better.