But generally, there are tons of other channels (although less effective) that most wholesalers use to reach motivated sellers.

I own it for 6yrs now but I can't seem to reach the second home.

Quote from @Eduardo Cambil: Hey everyone We recently acquired a single-family rental in Decatur, IL through an Agreement for Deed, and now that it’s stabilized and rented, we’re looking to refinance into a DSCR loan.Here are the key numbers:Purchase price: $56,900Current balance: ≈$50,900Market value (conservatively): ≈$75,000Monthly P&I payment: $729Rented for: $1,200/month (Section 8-qualified)DSCR ≈ 1.65Property in great shape — fully rehabbed, turnkeyOur LLC (Wyoming-based, multi-member with EIN) holds the property, and all payments are current and verifiable through escrow.We’re simply trying to find lenders who can refinance small-balance DSCR deals (under $100K) — ideally allowing payoff of the existing land contract and providing a clean title.If you’re a lender, broker, or know someone specializing in this space (Midwest, small-balance DSCR), I’d love to connect and hear your terms.Thanks in advance to anyone who’s done similar deals or can point me in the right direction — happy to share full details privately or through DM.– EduardoC&T Global Solutions LLC (WY) you would be much better off going to a local lender/bank for something of this size.

We can have this conversation only if you choose to reach out privately.

TBH the SC property was simply the result of informal Zillow searching, and it appeared promising due to a few factors:  Simple brick construction and layout, only 2 of 8 units upgraded so potential value add, community with some growth and within commute of major job centers, and priced lower than our current rental property which also has 8 units.  

If the 2nd mortgage was created for only the $10,000 equity it would simply be called a 2nd mortgage.

We manage our own properties so when we reached out to local companies, it was to the companies directly (not property management companies).

Depending on your board, this could actually be viewed as a violation and potentially lead to a fine or complaint, especially if the PM has a valid brokerage license or exclusive listing rights for any property they manage.Put simply — the PM’s agreement with the owner is a legally binding contract, just like your buyer’s or listing agreement.

If you’re looking to keep expanding, start by identifying which markets make the most sense based on your capital and long term goals.Once you’ve narrowed that down, reach out to a local investor friendly agent who can walk you through the process and connect you with lenders.

Don’t hesitate to reach out if you want to dive deeper into strategy or funding along the way.