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Updated almost 7 years ago,
Best acquisition and Cash Out combo companies and costs
Hello all. I initially bought my 7 properties with my partner, cash only. My partner however does not want to use any type of Leverage and lending. At this point I am forced to purchase more homes with leverage alone. I think I finally have an idea on which company I will use for the purchase but I could easily be informed to try something else or at least investigate it. My plan was to buy something with private money then do a cash-out refi and keep going. I can pretty much do 15 to 25% down on most properties. Another issue I have is in the area I live in some of the best properties for me that would be buy and hold are 60 to $70,000 . Most lender minimums are now $75,000 for the loan. I'm looking for 50000 minimums. Also I want to know that I am self-employed and don't have a great-looking debt-to-income although I am quite fine right now. So if anyone has a great combo for acquisition money or cash out refi , please inform me! I am mostly focused on buying rentals and keeping them. I like doing rehab but try to minimize how much we have I do, and we'll do a couple flips this year. The best combo wins my business of nothing short of 10 loans this year.
Recap:
-Need allowable 50k min loan (for acquisition and or cash out)
-Looking for competitive a combination of rates and cost for 2 loan types: acquisitiion and cash out refi's