All Forum Posts by: Melissa Faraias

Hello BP community,

   I am a relatively new investor, who is looking to build a network of people that I can work with on future projects. Does anyone have a great contractor and investor-friendly real estate agent that they recommend? Thanks so much.

Thank you to everybody who took the time to respond to my post and offer your valuable advice. I will be reaching out to some of you shortly. 

Hello BP community,

I am close to finishing the rehab on my first rental property and looking to refinance soon. Does anyone have any good DSCR lender recommendations? The property is located in Houston.

A lender that I spoke with gave me two options for refinancing; the first involves refinancing immediately after the rehab is complete and renting it out to a tenant. In that case I could get upto 80% LTV of purchase price plus rehab costs. The second option involves waiting for the 6 month seasoning period and then getting upto 75% LTV of the ARV. Normally I would wait the 6 months, but the lender anticipates interest rates to go up significantly by then. Looking for some advice on what would be the best route to take. Thanks in advance for all the valuable advice.

Thank you all for taking the time to respond and for the valuable advice. 

Hello,

I am a new investor, who is just closing on my first home here in Houston. Exit strategy is Buy & Hold. I have estimates from 4 contractors and hope to finalize one soon. What paperwork should I have the contractor sign before starting the project? I have the detailed line item estimate and the timeline and payment schedule that we will sign but I've been reading on these forums that I should have all my expectations laid out in a document like materials used, penalties for late work etc. Does anyone have any documents that they can share? Thank you so much. These forums have been so helpful to me as I start my journey.