All Forum Posts by: Steven Miller

Quote from @Jay S.:

Hi Anthony, will DM you and give details. We have few lenders which can make exception and provide 15% down on DSCR loan.

Hey Jay,
I would be interested in learning about these lenders that allow less than 20% down on their DSCR products!

Hey Dylan,

Any luck finding any hard money lenders in Alabama? I’m currently looking as well but in the Dothan area.

Quote from @Kimberly Abeln:

Hey Steven, We live in lower AL - I’m not an agent but track the market pretty closely here. 4-plexes don’t come up often, but come up more frequently in Enterprise than Dothan. Sometimes Daleville as well. Try Hannah Pendleton with KW (334) 796-7729. She’s an agent/investor and should be able to help. We also have meetups, so be sure to find us on FB or message me and I’ll keep you posted. Welcome to the Wiregrass!

 Hey Kimberly,

I am totally fine with the Enterprise, Daleville, Ozark area as it is closer to base. but once I get situated out there id definitely be interested in the meet ups. I don't have Facebook so if you wouldn't mind keeping me posted on the meet ups I'd really appreciate it.

Quote from @Dylan Thomas:

I’m helping someone sell 2 four plexes in Dothan right now. I’d love to connect

 Hey Dylan, 

Id be interested in learning more.

Quote from @Steven Santon:

Hey Steven, great name first and foremost and thank you for your service. 

Please utilize your VA Loan if you can. Don't know if you have any out already but it makes the most sense considering you won't have any PMI for the life of the loan.

DSCR is strictly for investments!

If possible don't go FHA either because you will have Up front PMI and then MI for the life of the loan!

I have multiple VA Loans out right now and would love to also send you an informative VA Loan presentation!

Let me reach out to my network and see if I can get you in touch with an agent down in southern Alabama! 

 Hey Steven, 

Right back at you! Utilizing the VA loan is definitely my first priority. I mentioned the DSCR because after looking at the recent prices on fourplex's, I am doubtful that I could receive a VA loan for that amount due to them having a limit and capping out. but I appreciate any help and information you could throw my way!

@Steven Santon

Hey BP, I just got word I will be stationed in southern Alabama. I am looking for an investor friendly agent who has experience in multi family homes. I am primarily looking for a 4-plex to house hack while I am stationed there. I will most likely utilize the VA loan but open to other loans DSCR etc. Thank you all for the help!

Hey BP, I just got word I will be stationed in southern Alabama. I am looking for an investor friendly agent who has experience in multi family homes. I am primarily looking for a 4-plex to house hack while I am stationed there. I will most likely utilize the VA loan but open to other loans DSCR etc. Thank you all for the help!

Hey Ryan,

Thanks for the great advice! Unfortunately it doesn't look like Free Model services my area. I really like the idea of an as is appraisal. The house last sold in the early 1980s for around 90k. Current comps in the area are around 800k so even in the poor shape that the house is in, it would still probably be appraised in the 400k range. Also, I don't plan on flipping it. the plan was to do a buy and hold unless a flip could produce substantial gains.

Awesome! That was kind of our plan just wanted to throw it up on the forums to see if there were any other methods or thoughts from everyone. 

Awesome! Thank you for the advice. I do have cash for the rehab as well as access to a family friend who is a hard money lender. We are currently waiting for everything to be cleared by the courts and the deed to be transferred from his deceased parents name to his name.