All Forum Posts by: Stephanie P.

Hello BPers,

I currently am 50/50 partners in an investment in a single family residence worth ~$2 million. My partner wants to sell, but I want to buy out her portion. I do not have a lot in terms off cash reserves, and would love to be able to get a loan secured by my portion of the property to be able to buy her out right away. I am in West Los Angeles. Any help or referrals would be greatly appreciated. Thank you very much.

First Investment Property - Commercial vs Conventional Mortgage

I have been researching and trying to decide on a lender/Type of mortgage for my first property. I would like to get pre-approved so I can be ready to purchase when the time is right.

My Property goals are to start and scale up to multiple investment properties over time. I am unsure if I should just start with a commercial loan under an LLC as to not affect my personal DTI. This may be overkill to start with, which is why I am debating for my first property to keep it simple and get a Conventional personal loan. My main concern being, that it would affect my ability to purchase other properties in near future. I am looking in the Memphis/Cleveland markets, Any and all feedback or Lender recommendations are appreciated

Hi all,

I have a triplex rental property which I do not live in. I wish to do renovations on it. The lenders I've spoken to do not offer HELOC or home equity loans for triplex rental properties. I've only found cash out refinances but I currently have a good rate on my mortgage and don't wish to leave that. Can anyone offer ideas on how I could gain funds for renovations without putting too much of cash into it? Thank you all!

Have you used rehab loans for purchase and rehab of a BRRRR deal?

I am looking at a 6 family property that is roughly 650k fully rented.  I feel that it is just too expensive and give up to much equity buying at this level.  

My question is at what point is cashflow high enough to justify purchase price? Or are there other factors I should look at?

Part of me just wants to wait for a market bust to scoop something up but hearing some opinions from you guys would help.

I have a second home / investment property worth $3.5m. I currently have a hard money loan for $500k due in 9 months. I have no income with excellent credit.

I am looking into refinancing with private lenders or banks for an LOC or mortgage up to $1.5m

What are my best options? Do any banks / CUs do this with no income, or do I need a private lender? Any suggestions on how to go about this?

What happens if I have a loan based on being my second home but I decide to make it my primary home? Do I need to notify the lender and will they call in the loan?

Would any lender touch this with no income if it's my primary home?

Thanks!

For people that use hard money loans frequently. What are the best exit plans when using Hard Money Loans?

On the hunt for financing for our 2nd STR. Thoughts on 7yr ARM vs 30yr fixed with these high rates? I can save about .5% with the ARM and $4k in closing with one lender. If we plan on refinancing down the road why choose the 30yr?

Happy Friday everyone.

Excited to keep learning and meeting new people through these forums and I dive into REI. For the hard money lenders out there, i'd love to network and understand your vetting process when investors come to you with a property they want to rehab. I know there's nuances from lender to lender, but high level, it would be great to know. Especially since the best deals from what i've seen, are gone within a few days if lucky.

Hello everyone, I’m new to bigger pockets. I usually just watch the YouTube but never actually came on the site. Pretty amazing what you all do.  I live in Boston where it’s getting harder and harder to cash flow nice. I’m so indecisive on what cities out of state to start looking for multis with cash flow.  Was wondering if there is any places you guys consider much better than the rest? Thank you in advance.