All Forum Posts by: Trevor Finn

Hey @Sharad Bagri,

For cash-flowing small multifamily rentals in Columbus and Dayton, consider these areas:

In Columbus:

• * Northland: Diverse community with solid investment potential.
• * Southeast Columbus: Dense suburban feel, popular with families and young professionals.
• * Old North Columbus: Urban-suburban mix, appealing to young professionals.

In Dayton:

• * Patterson Park: Well-maintained with a strong community vibe.
• * Northridge Estates: Suburban area with various amenities, ideal for renters.
• * Walnut Hills: Quiet and community-oriented, great for rental stability.

Areas to Approach with Caution:

• * Columbus: Some sections of Hilltop and Linden due to higher crime rates.
• * Dayton: Certain parts of West Dayton, which face economic challenges.

Focusing on due diligence in these neighborhoods can help you identify stable, cash-flowing opportunities. All the best on your investing journey! Here to assist if needed!

Hey @Vhernadette Sasing, with your high income and limited time, a solid approach might be investing in cash-flowing assets that are low maintenance, like passive multifamily syndications, or exploring online businesses with recurring revenue models (e.g., SaaS, subscription-based e-commerce). 

You could also consider a portfolio of semi-passive investments, like franchises with management in place. Leveraging out-of-state turnkey rental properties could be another time-efficient path, offering stable cash flow and potential appreciation. Happy to help, LMK!

Congrats @Shaylynn O'Leary on looking for your first investment! Deciding to flip or hold usually comes down to cash flow vs. equity growth. If the property will cash flow well after rehab, holding might build wealth over time and give you leverage for future investments. 

On the flip side, a quick flip can free up cash for more deals. A popular formula is to analyze the "70% Rule" (70% of ARV minus repairs) for a flip, while focusing on cash-on-cash return for holding. Let me know if you want more insights on either approach!

@Valerie Bowman, interesting setup! For financing, you might look into portfolio lenders or commercial lenders in the area who could be flexible with mixed-use or multi-property deals. Some credit unions or local banks offer portfolio loans that don't stick to the 4-unit limit, which could work well here. As for structuring the deal, proposing to buy the single-family in cash with an adjusted purchase price could be a win-win, especially if you frame it as maintaining the seller's cash position for their settlement. Just make sure it aligns with your cash flow goals—sounds like it's a solid DSCR! Good luck! LMK how I can assist!

Hello @Kyle Souza, congrats on moving toward your first apartment acquisition! To qualify for debt, lenders generally look at net worth (aim for the loan amount), liquidity (10% post-close), experience, and a solid credit score (ideally 680+). If you’re short on experience or financials, bringing in a sponsor with a strong balance sheet and track record can make all the difference. You’ve got this—I'm here to help if you have any further questions!

Hey there @Francine Geike! With that upcoming sale, a 1031 exchange could help you defer those capital gains taxes if you reinvest in another income-generating property. Maybe look for a rental property that could boost your monthly income or even a tenant-occupied property to ensure cash flow right away. For the home loan, if assuming it isn’t an option with your current income, you might consider using some of the cabin sale proceeds as reserves or paying down debt to improve your financial standing. Wishing you the best in navigating this next chapter!

Securing financing for a property without current income can be challenging, but there are specialized lenders who focus on the asset's potential rather than its existing cash flow. 

Some DSCR (Debt Service Coverage Ratio) loans don't require current income, focusing instead on the projected cash flow once you rent the units and building. Another option could be a private lender or a bridge loan, which might offer the flexibility you need to get started.

Hope that helps! Let me know if you need assistance to locate a lender!

Great question! Yes, having two liens can complicate things, especially with a conventional lender. Many times, HMLs are best suited to cover both purchase and rehab to avoid that double-lien issue. And like @Erik Estrada mentioned, majority of HML's won't lend in second position. Hope this helps and reach out any time!

For a BRRR cash-out refi, lenders typically go by the ARV (After Repair Value), not just purchase + repair costs. With our DSCR loan, there's no seasoning period, so you can refinance as soon as the property's ready! You can get up to 75% of the ARV on a cash-out, with rates starting at 5.875% APR and a 680 minimum credit score. Plus, it's a low-doc, asset-based loan, so no income verification or tax returns needed. Perfect for rental properties, including Airbnb. Let me know if you want more info!

I totally understand the struggle, Venecia! Start by setting one small, actionable goal this week—like researching your local market or reaching out to a real estate agent. Taking that first step can help turn your knowledge into action. You’ve got this! 🙏🏾