All Forum Posts by: Troy Smith

I’ve been looking for hard money lenders, and I see mixed reviews on the ones that show up online. I see Kiava a lot. Are there better options than the ones I see online

What kind of terms are you looking for? Is this your 1st Flip?

Kiavi is usually very good and fast. But your experience will depend on your account executive.

This would be my second one. The first one was self funded and I don’t want to do that again

0 Votes

Canton, Ohio

I’ve been looking for hard money lenders, and I see mixed reviews on the ones that show up online. I see Kiava a lot. Are there better options than the ones I see online

2 Votes

Canton, Ohio

I’m looking for wholesalers in my local market in Ohio. I haven’t had luck finding distressed properties and am looking for a chance to find some. Does anyone know of where to look to find wholesalers?

4 Votes

Canton, Ohio

I have my rehab complete and my renter moved in to my first BRRRR. I'm excited to start the cash out refinance so I can get moving on my next property. Looking for some advice. Should I go through my current mortgage lender for the refinance or shop around? Also is there anything I can do to try to help with the appraisal process so it appraised for what I'm thinking it should?

6 Votes

Canton, Ohio

Quote from @Matthew Irish-Jones:

@Troy Smith there are things you can do, but none of them are worth the time and money.

move on and re-rent. One issue as mentioned is if you have a scam artist on your hands they could force you to evict.

Yeah, that’s what I was thinking. Sucks that I wasted an extra month of payments just waiting. But you live and you learn

2 Votes

Canton, Ohio

Quote from @Chris Seveney:

Quote from @Troy Smith:

My tenant signed the lease right away and gave their current lanlord a months notice. The start of the lease is 4/1/2025 and I have sent multiple messages without a reply. We haven’t received any money bc first months rent and security deposit is due on 4/1. Is there anything I can do?

In the future always have the lease signing contingent upon receiving the deposit - do not wait till the 1st to receive the deposit.

Yes, definitely a learning experience for me. Won’t make that mistake again

1 Vote

Canton, Ohio

0 Votes

Canton, Ohio

I’m ready to re t out my first property in Ohio. Is it required for me to get any license/ certificate before I start renting. I want to make sure everything is legally correct, so I don’t have issues because I missed something

2 Votes

Canton, Ohio

Quote from @Jon K.:

It's going to depend on the lender, how it's titled and what kind of refinance you are doing.

If you're doing a conventional cash out refinance, a lot of lenders are going to require a 3 to 6 month seasoning period prior to refinancing and it will have to be rented first. If you're doing a rate and term refinance, there's typically not a seasoning period but again it's common for lenders to require it be rented first.

If you're doing a DSCR cash out refi, it may not need to be rented first but you're probably paying a higher rate.

Your best option is to call a loan broker you trust and go through the options based on your current situation. There's no reason to wait, call them now so that you understand the options.

Thanks for the info. I’ll reach out and see what my lender says.

0 Votes

Canton, Ohio

I’m almost done with the rehab on my first brrrr property. When should I refinance? Should I wait until it’s rented first or just start the refinance process right away?

This is my first Brrrr

5 Votes

Canton, Ohio

All Forum Posts by: Troy Smith

Troy Smith has started 18 posts and replied 37 times.

Post: Hard money lenders

Post: Hard money lenders

Post: Looking for wholesalers in Ohio

Post: Refinance step of BRRRR

Post: Tenant ghosted after signing the lease

Post: Tenant ghosted after signing the lease

Post: Tenant ghosted after signing the lease

Post: Do I need license to rent

Post: Refinance portion of brrrr

Post: Refinance portion of brrrr