Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

You’re closer than you think.If you end up finding something in OC or out of state and want to see if it qualifies for one of our investor loan programs, feel free to reach out.We can run the numbers, check DSCR, and see exactly what financing looks like so you know if it’s a smart move before you make an offer.Best of Luck!

Buildium is likely the program that the property management company is using to manage their books. 

For my flipping business, I prefer to use fewer software programs to streamline things.

Further, any knowledge needed can be obtained by purchase of a “mentorship” program. 20 plus years ago, I had an investor in my mortgage funds that told me he no longer needed to invest in my fund, he would originate and fund loans himself and earn what had been our fee (points).  

The reason FHA does is becaues it was designed for primary residences only and wanted to make sure the program wasnt being used by borrowers to rapidly acquire real estate portfolios (which many on this site are doing). 

Most PHAs still treat marijuana as a federal controlled substance, so they can support lease enforcement actions if it violates the program’s federal requirements.

Your best bet is a Non-QM loan like DSCR or a multitude of other programs that will use normal guidelines but allow the loan to close in an LLC

If the nonprofit is involved in tenant screening, education programs, or community support, that is usually fine.

Sounds too good to be true, and the guy is a good seller but I was wondering if anyone had any review on the guy and his program?