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All Forum Posts by: Mitchel Eze

Mitchel Eze has started 3 posts and replied 13 times.

Post: Finding the right property

Mitchel EzePosted
  • Posts 13
  • Votes 0

I'm a professional athlete and so I'm not quitting work anytime soon 

Post: Buying in detroit

Mitchel EzePosted
  • Posts 13
  • Votes 0

Yea the problem is financing for me. I'm a first time home buyer trying to house hack a multifamily duplex for a start. I've seen a lot of good properties but financing is hard because I am unemployed and don't have 25% for DCSR

Post: Buying in detroit

Mitchel EzePosted
  • Posts 13
  • Votes 0

Any tips for buying multi family in detroit? And what neighborhoods has the best COC

Post: Finding the right property

Mitchel EzePosted
  • Posts 13
  • Votes 0

I find that I can do these estimates myself or atleast have a clue. I have an agent and a lender. I see you are in detroit, what neighborhoods are good for multifamily (2 units). That's what I'd like to start with.

Post: Finding the right property

Mitchel EzePosted
  • Posts 13
  • Votes 0

Thanks man. That's a lot of wisdom

What do you mean by missing half the market on SFH

Please explain the PPP part in details of you don't mind. I'm a newbie and new terminology keeps popping up. Thanks 

also is there a way to get help with down payment on dcsr loans ?

would be it be safe to assume to more units is better or is there advantages to starting small like single family. 

Quote from @Brian Cauldwell:

Hi @Mitchel Eze!

It seems that a DSCR or private institutional loan is the only option then. A lot of my clients are in a similar situation to you.

For long-term financing, you can expect to put 20% down. For a fix and flip loan, anywhere from 10-20% down. 


 Thanks 

Quote from @Brian Cauldwell:

Hi @Mitchel Eze!

It seems that a DSCR or private institutional loan is the only option then. A lot of my clients are in a similar situation to you.

For long-term financing, you can expect to put 20% down. For a fix and flip loan, anywhere from 10-20% down. 

Thanks alot
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