All Forum Posts by: Taqiyyah Ellis

Info Session on the REI project in Atl. Seeking advice on how to secure funds or resources to prep the property for renting in the MTR and STR market.

Hi Josh and thanks for responding to my post :) 

Sure, advise the best way to connect. Still learning how to navigate Bigger Pockets based on the rules, lol. I do have an info session scheduled several times this week via Eventbrite registration daily thru Thursday of this week and next week, however moved the 8:30PM ET to 6PM the week of March 10th.

REI based in Atlanta and I just purchased a bank-owned vacant Single-family property 3BR/2BA. Closed in Jan with a DSCR loan and now in need of funds for maintenance, light however necessary repairs, HVAC replacement, painting, furnishings, operational expenses etc. The plan is to use STR or MTR model until mortgage is paid in full. Hopefully this is the right group for this question.

Investment Info:

Single-family residence buy & hold investment.

1st home turned into long-term rental property in 2002. Renovated the home in winter 2023; cash out refi in 2024 to purchase the investment property in 2025.

Thank you everyone for your feedback. 

Thanks for responding. Yes it's a DSCR loan, upgrades were completed early spring and I have a tenant, thankfully, who signed the lease in June. The only item that needs addressing according to the new lender, Visio Lending, is the leak which is not an issue, just another delay.

Hi BPF, I need advice on this matter.  With the support of a broker,  i started my no docs cash out refi journey  (I'm open to other products) in August early September for my one and only investment property, a SF townhome.  The 1st lender, Velocity, I walked away because the numbers did not work for me and now I'm working with a 2nd lender. The new lender reviewed the appraisal report and noticed a brown spot (indicating a leak) in the laundry room which needs to be addressed before they can move forward. Is this the norm? I definitely need to make additional updates to the property and that's part of the plan.  Additionally I'm refinancing investment property into my company's name. Seeking suggestions and advice please. Thank you!