All Forum Posts by: Leah Stuever

You really want to learn how he does his numbers. What he looks at/for when he looks at a property. See if he will share any of his spread sheets or things he uses to calculate his numbers. Flipping is all about numbers and knowing what to look for

You charge the actual costs to repair the counter. 

How does a tenant crack grout but not the tile? That really sounds like it is a floor issue and not a tenant issue. Wear and tear in my opinion. 

What type of loan?

Welcome aboard. I am a buy and hold investor down in South Fort Worth. I am also a real estate agent. Feel free to hit me up if you have any questions or need a comp. 

@Martin Fields A real estate agent can search for short sales for you. It is pretty easy.

If you are looking in DFW let me. I can set up a search for you.

There are a lot of different ways. I still hear of new types of loans reading around BP and FB

If you qualify for a traditional loan, there are a lot that are 2-5% down. 

If you are looking for multi family, there are some loans that require low amounts down and use the rent rolls instead of your monthly income. 

Private loans are also negotiable regarding capital. 

If you are talking about just getting the $$. Saving money every month is a must either way (read Rich dad poor dad if you have not already). Cashing out any retirements that you may have (if you feel that is wise, investing is always a risk). JVing with family or other investors that you may know also might help. 

I did rentals when I worked full time. You just have to plan to pay a property manager and put that into your numbers. It is generally 8-10% of the rent. 

Then find a good real estate agent who works with investors or has their own investment properties. They can send you properties that are going to match more of what you are looking for and send you rent comps as well as market comps. Save you time. 

So I am looking at different loan types to see what options might be best. After some forum searching I have seen people talk about "Debt coverage ratio loan" or "business purpose rental loan." Loans that use the rent rolls and your credit score instead of personal income. 

Has anyone used these types of loans? My concern is making the numbers work. Any problems with these loans? things to look out for?

Thanks!

Likely not a specific brokerage. You can find some that charge lower splits/commissions. But you are going to be paying something. As well as paying all your real estate fees. which are 1000-1500 a year. 

@Jordan Berry I will check it out! Thanks.