All Forum Posts by: Rob Sasser

Awesome, just what I need!  Ill be there.

Hey Dustin, welcome to Bigger Pockets.  I highly recommend the podcast, they keep you learning and keep you excited.  And other then that just save save save your money so when an opportunity comes along you are ready to pull the trigger.

@Aaron Curry

Hey Aaron.  Yes 10 properties.  You can get up to 10 mortgages that still meet the Freddie Mac Fanny May guidelines so the lender can sell them off.  After that you have to find a portfolio lender that will keep the loans in house.

Right now I am working with Yadkin Mortgage for conventional loans.  They allow you to go to 10 but you have to qualify.  

Welcome Justin. I second the post about the podcast. There like a free guru course!  I'm in Greensboro too so hit me up if you ever want to converse. 

Thanks @Jon S.

I have three leased properties right now.  Of course a lot of info is on my schedule E of my tax return.  Do you think I need lease copies of all three properties included in my "book"?

Hello everyone.  So I want to get more organized to streamline communications and the application process of acquiring a bank loan.  I have heard the discussion before on the podcast about getting a binder together with all the important information to present to the banks when you go in the first time.  I am going to put together

2 years personal tax returns

2 years corporate tax returns (I'm self employed, its an S-corp)

Personal net worth statement

2 months of most recent bank statements

what else am I missing, and what type of information about the property should be included?  Thanks for any help.

@Travis Sperr

Thanks Travis, when you refi with conventional mortgages do you have to put the 20-25% down if the LTV is only 70-75% It would be nice to borrow the money for the purchase with private/hard money, use my own money to fix it up thus increasing the value, and refi with out having to come out of pocket more for the down payment.

Hello everyone.  Im Rob Sasser from Greensboro NC.  I have been investing in real estate actively for about a year.  It started by accident actually.  I bought my first house in 2007 and probably over paid a bit.  Then my wife and I wanted to move around 2011 and I did not want to take a loss on selling our house.  I was fortunate enough to be able to save up a down payment for our next house with out selling our current house so I decided to keep it as a rental.  I thought to myself how hard could it be.  So I did that and found out it really wasn't that hard, and it was kind of nice watching that loan balance go down every month by some one else paying it.  So I just had the one rental for a while.  Then one day I decided to look into refinancing our new primary residence and take some cash out.  We bought a short sale and fixed it up a bit so we were able to take a good chuck of change out.  Initially I was going to pay off our student loans with that money, but the value minded side of me just kept thinking about using that money for an investment and using the income generated by the investment to pay our student loan payments and still having the capital at the end of everything, so I started shopping for another house.  And then it got contagious, so I bought another one after that.  Now my goal is to get 10 as quick as I can and see where it goes from there.  Really love the site and I'm hooked on the podcast and can't wait to see how far I can take this real estate investing stuff.

Hello all, I am trying to buy 10 investment properties with 10 conventional loans.  I want to take advantage of the low interest rate and 30 year terms.  I have 4 properties now and 6 to go.  It is taking about 4-5 months to buy, close, rehab, get my money out and do it again.  I would love to be able to buy properties faster so I thought about exploring some private lending.  If I do some deals with private lending will that hurt my debt to income ratio thus hurting my ability to qualify for conventional loans?  And also if you have to get a private investor loan at a higher inters rate, is there a way to "refinance" it later to a lower rate if you already have 10 conventional loans?