All Forum Posts by: Drago Stanimirovic

Hey Kayla,

If you pay cash, you keep things simple but you're limited by your $20k, likely pushing you into lower-end properties. It’s safer but much slower to scale.

With hard money, you can leverage that $20k as a down payment and access better deals faster. Yes, there are costs, but if your numbers are solid, it can help you scale much quicker.

I guess you didn't, moving out means more than just saying it — it involves updating the borrower’s address across the board (license, bills, etc.). If the borrower is living elsewhere and not using the property as a residence, and there's proof it’s being rented or marketed, we can usually finance it, even if they're staying with family. 

 I guess you missed this part: 

"You'd need to move out, as DSCR loans are for investment properties only, you can't rent to yourself."

Sure, anytime! Feel free to reach out if you need more help!

Hey S. Lamont,

Congrats on the first home, locking in $50–60K in equity is huge. For a turnkey fourplex under $200K, you’ll likely need to look outside CA, in places like the Midwest or Southeast where prices and landlord laws are more favorable. Starting with a low-reno property is smart for your first rental. 
Glad to have you in the game, let me know how I can help.

Hey Michael,

Between Western NC and TN, Tennessee is more STR-friendly overall. No state income tax (vs. NC's tax on rental income), generally looser STR regulations (especially in places like Gatlinburg and Chattanooga), and lower insurance costs make it more attractive for out-of-state investors. NC spots like Asheville have cracked down hard on STRs, so you'll face more restrictions there.

Hey Brady,

You're crushing it with the house hack, well done. If you want more cash flow and don’t mind managing Airbnb, do another one. But if you're aiming for more passive income and scalability, a small multifamily is a great next move.

Hey Nicholas,

If the home's in a good area and priced right, you can usually find tenants within 2–4 weeks, sometimes faster in hot markets. Good marketing and responsiveness go a long way.

Yes, you can use a DSCR refinance to pay off both the FHA and HELOC loans, even with a "subject to" purchase. You'd need to move out, as DSCR loans are for investment properties only, you can't rent to yourself. The good news is, you don't need a tenant in place; most lenders (like us at Phoenix Funded) can use market rent via a 1007 rent schedule for qualification.

Your numbers look solid with a $260K payoff on a $360K value and $2,100/month in rent, you’re likely to qualify. We’d just need to confirm the rent coverage and ensure clean title.