All Forum Posts by: Stephen Quesinberry

Hi Zach, 

Welcome to BP. I'd recommend this group http://dfwreinetwork.com/ on the last Wednesday of every month. I've been going to it for a while now. Always really great networking and good information from guest speakers. @Sherry Patterson is the founder of the group. 

Also I've been to DFW Investors and they have a page on their site dedicated to REI groups http://dfwinvestors.com/dfw-real-estate-investor-c...

It's a good meetup with access to many vendors. Hope this helps! 

@Dallas Bass right off the bat with it not meeting the 1% rule then you're likely to find the numbers won't be great on the CoC return side.

What type of CoC return will this be? What is your criteria? Are you looking for a specific dollar amount of cash flow per door? Being able to know those numbers will tell you if you are missing something obvious.

@Ross Sims 

Typically, debt to income ratio is something you will constantly be working out with your lender. I know that my lender has mentioned 2 years for using a rentals being used as income on the DTI. Therefore with that in mind, the quicker you can get this going the better. I'm not certain if the 2 year requirement is consistent across all lenders or just the one I'm working with.

As far as BRRR. in that example yes you are back to where you started and sure not technically making money off of it HOWEVER:

1. You know have a cash flowing asset with no or little amount used. 

2. You forced the equity on your home-giving you more value on your balance sheet. 

I'd also suggest that the BRRR strategy is great, but these numbers in the example are great and are very difficult to replicate these days. I did a forum post a few months ago on everything I learned during my BRRR investment that I did last year.

https://www.biggerpockets.com/forums/223/topics/37...

Hope this helps! 

Thought provoking.. thanks @Account Closed

@Jennifer Fernéz There are lenders out their that can do 15% down on SFH. I know of one mortgage broker in my area that mentioned this the case. I'd recommend looking for a broker in your area that is well connected with banks that specialize in investment lending. All the best!

@Mark Allen likewise with what Andrew said. I would also be interested to hear if anyone had an answer to this. 

@Ted Kawabata yes, I've heard good things about Texas Republic, I appreciate the recommendation. 

@Nate Barbee Do it! PM me, I'l give you contact info. 

@Chris Low @Nate Barbee @Matthew Hipp @Ryan Ogilvie

Seasoning of Hard Money into Refinance

I asked my lender today. Here is the scoop. She is a mortgage broker and deals only with investment lenders. There are no regulations set by Fannie Mae on seasoning of loans and it's been that way for years. With that said, it's all about finding a lender that is willing to do it. Most banks have it as an added requirement and it seems to have become an accepted industry practice. Ask around until you get the answer you want!!!

@Andrew Barber, I didn't get bids before the offer. I estimated beforehand and then got 3 bids after I got the property under contract.