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All Forum Posts by: Monica Soyemi

Monica Soyemi has started 9 posts and replied 33 times.

Post: CHICAGO DSCR LENDER NEEDED ASAP

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15
Quote from @Bob Reinhard:

Greetings Monica .

Cash out refis are currently at about 75%-70%.
But feel free to reach out to discuss the entire situation further.

Bob



I just called your office, and they informed you’re also an investor who buys deals for cash. Are you a lender?

Post: CHICAGO DSCR LENDER NEEDED ASAP

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15

So I purchased a property a few months ago through a wholesaler, a Hard Money Lender actually blasted out the deal to investors across the country and I was able to get the deal. I just completed the rehab a couple of months ago, and was looking for a buyer, but unfortunately due to Rate increases the buyer demand has slowed. I am now considering doing a refinance or cash out refinance with a DSCR lender, and maybe re-list next year because I don't believe my income can support the mortgage. Currently paying around $4000 in Hard Money interest per month, so looking to find a great solution based lender. Thanks

Post: Commercial or Residential 2021

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15

@Davonta Williams Hi Davonta, did you make a decision?

Post: Real Estate Agent in NY hiring?

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15

@Julia Sung Hi Julia, I would recommend REAL Broker NY LLC! They've been really helpful to me as a newer agent with guidance and they offer really great commission splits. You can text me (774) 246-6185

Post: [Calc Review] Help me analyze this deal

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15

I have a great deal on my hands and deciding whether to assign the contract to another investor or raise private money to get the job done. Home is under contract for $540K, ARV $800K with rough $75K-$100K rehab depending on the experience of investors. The floors are in good condition and so are a lot of cabinets that can just be repainted. The issue is, I just don't have the capital to get the job done so I'm interested in wholesaling it. I'm a realtor in the area and know because of the school district each apartment would easily rent for $2200 with 3 apartments and a basement. What should I do? View report

*This link comes directly from our calculators, based on information input by the member who posted.

Post: [Calc Review] Help me analyze this deal

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Post: HARD MONEY HELP IN WESTCHESTER COUNTY

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15

Hi, thanks so much everyone! The city is Yonkers. It's a multi family

Post: HARD MONEY HELP IN WESTCHESTER COUNTY

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15

So many hard lenders want 20% of the purchase price as a down payment, in a market like NYC having 20% down is tough. What's another way to acquire hard money loans without such a huge down payment?

Post: HOW TO BUY A HOUSE WITH NO W2 INCOME?!

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15

Hi, I just went to BPCON21 and I came back so excited and fired up to buy my next house. I don't have any W2 income and my 1099 income won't support a mortgage. How can I BRRRR? I know a hard money lender will loan you money on how good the deal is, but after that how can you refi without W2 income?

Post: You Asked For It! Announcing BPCON 2021 - New Orleans!!!

Monica Soyemi
Posted
  • Real Estate Agent
  • New York City, NY
  • Posts 36
  • Votes 15
Hey Dennis, I’m coming from NY! I haven’t figured it out yet, the Sheraton is a little pricey 
Originally posted by @Dennis Yosco:

super excited! Im booked and ready to go! where is everyone staying? Anyone from New Jersey