All Forum Posts by: Sergio Mejia

Hello @Sebastian Marroquin I am interested in this Pasadena Meet Up. Thank you for organizing this event for us all.

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Hey Congratulations @Michael Magno on your recent flip. I am curious to know how many flips do you think you will or would like to complete before you feel you are ready to buy and hold?

@Doobie Sims

If you would like to get the highest leverage on the most recent value after repairs I would urge you to wait for the 6 month marker. You will then qualify for 75% cash-out with a Non-QM lender. Pay off your heloc, stabilize your investment property and do the process all over again. Hope this helps. Keep it simple!

Hello @Leo Kane I would agree in the sense that paying anything off would not be the best leverage for your money. If your current property is cash flowing no need to put more money into it now. Since you have liquid I would believe expanding your portafolio would be the best use of your money. If you could find 1 or 2 properties and put sufficient enough down to cash flow off them you’re putting the money you have to make more month over month, build more capital and expand again. Hope this helps!

Hello @Greg Franck, a DSCR loan is a great way to grow your portfolio for many reasons.

One key take away is if you are vesting in an entity the balance of the mortgage does not appear on your personal credit report.

Second you only need 2 months bank statements to qualify, 6 months reserves are required to show.

When looking for a good fit for a lender I would look at experience (how many years) in the Non-QM space, total fees and most importantly open communication of all obstacles from the beginning.

It is quick to find out what could be your max cash out with only the information of your current cash flow on the property. Would love to connect with you and discuss all possible options available for you.

If we are speaking about a fix and flip or hold I would definitely say analyzing the rehab would be the most crucial. As stated on here even the most experienced builder can anticipate what can go wrong but can never anticipate how long the unexpected fix can take, sometimes you need new permits to solve the issue which can trickle down to time wasted and extra cost. 20% contingency is not always enough to account!