Investor Friendly Lenders in Texas

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Investor Friendly Lenders in Texas

Ikenna Okoye
Investor · Houston · Member since 2019 · 74 posts · 11 votes

Hi,

I just wanted to reach out to see if there are any investor-friendly lenders that work in Texas that:

Qualify rental income immediately when applying for a loan
Use ARV immediately for properties to evaluate property value
Has Low (3 months or less) to no seasoning period on loans
Allows multiple loans at a time
Allows title change to LLC is needed
Preferably has no loan minimums

*This would be all for rental properties*

    The first 3 points aren't very flexible since financing on BRRRR strategy is critical, but I'm willing to concede on the last points. Please let me know of you can help, I would love to work together on many deals, thanks.

    Ikenna

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    Jay ThomasPro Member
    Real Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
    3y

    Happy Wednesday Ikenna, 

    You woke up this morning with plan for success! I love to see it. I work with numerous lenders that I can share with you. I recommend reaching out to 3 lenders because each one can offer something different than the other. Shoot me a message and we can connect. 

    [email protected]832-889-5607
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    • Jay ThomasPro Member
      Real Estate Agent · Houston, TX · Member since 2021 · 1k+ posts · 715 votes
      3y

      Happy Wednesday Ikenna, 

      You woke up this morning with plan for success! I love to see it. I work with numerous lenders that I can share with you. I recommend reaching out to 3 lenders because each one can offer something different than the other. Shoot me a message and we can connect. 

      [email protected]832-889-5607
      2Reply
    • Jay HurstBusiness Member
      Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
      3y
      Quote from @Ikenna Okoye:

      Hi,

      I just wanted to reach out to see if there are any investor-friendly lenders that work in Texas that:

      Qualify rental income immediately when applying for a loan
      Use ARV immediately for properties to evaluate property value
      Has Low (3 months or less) to no seasoning period on loans
      Allows multiple loans at a time
      Allows title change to LLC is needed
      Preferably has no loan minimums

      *This would be all for rental properties*

        The first 3 points aren't very flexible since financing on BRRRR strategy is critical, but I'm willing to concede on the last points. Please let me know of you can help, I would love to work together on many deals, thanks.

        Ikenna

         @Ikenna Okoye    We are Texas based lender that lends out of our own balance sheet. That means we lend our own funds therefore can make common sense decisions. We can or have done all the above on your list. Love to connect!

        Hurst Real Estate, INC4.991 Reviews
        WebsiteView Page
        1Reply
      1. Ikenna Okoye
        OP
        Investor · Houston · Member since 2019 · 74 posts · 11 votes
        3y
        Quote from @Jay Hurst:
        Quote from @Ikenna Okoye:

        Hi,

        I just wanted to reach out to see if there are any investor-friendly lenders that work in Texas that:

        Qualify rental income immediately when applying for a loan
        Use ARV immediately for properties to evaluate property value
        Has Low (3 months or less) to no seasoning period on loans
        Allows multiple loans at a time
        Allows title change to LLC is needed
        Preferably has no loan minimums

        *This would be all for rental properties*

          The first 3 points aren't very flexible since financing on BRRRR strategy is critical, but I'm willing to concede on the last points. Please let me know of you can help, I would love to work together on many deals, thanks.

          Ikenna

           @Ikenna Okoye    We are Texas based lender that lends out of our own balance sheet. That means we lend our own funds therefore can make common sense decisions. We can or have done all the above on your list. Love to connect!


           Thanks Jay, I will definitely reach out!

          0Reply
        1. Erik EstradaBusiness Member
          Lender · Member since 2022 · 6k+ posts · 1k+ votes
          3y
          Quote from @Ikenna Okoye:

          Hi,

          I just wanted to reach out to see if there are any investor-friendly lenders that work in Texas that:

          Qualify rental income immediately when applying for a loan
          Use ARV immediately for properties to evaluate property value
          Has Low (3 months or less) to no seasoning period on loans
          Allows multiple loans at a time
          Allows title change to LLC is needed
          Preferably has no loan minimums

          *This would be all for rental properties*

            The first 3 points aren't very flexible since financing on BRRRR strategy is critical, but I'm willing to concede on the last points. Please let me know of you can help, I would love to work together on many deals, thanks.

            Ikenna


             Hey Ikenna, 

            There are several DSCR lenders that qualify you based off the rental income. Typically most of them have 6 months seasoning but if you have experience you can get 3 months seasoning. There are a few that have no seasoning requirements but they will base the value off the purchase price. Some hard money lenders might be able to do it with no seasoning and base it off the appraised value.

            Most lenders have a loan minimum of $75,000. You can definitely close title under an LLC. In terms of multiple loans at a time, what are you referring to?

            [email protected]818-269-7983
            LuxePrivate Investments LLC 572 Reviews
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            1Reply
          1. Simmy AhluwaliaPro Member
            Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
            3y

            If you're still looking, we have a 3 month title seasoning period.  Minimum loan amount of $75k.

            1Reply
          2. Eliott Elias
            Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
            3y

            I have one i'm happy to connect you with 

            1Reply
          3. Ikenna Okoye
            OP
            Investor · Houston · Member since 2019 · 74 posts · 11 votes
            3y

            @Erik Estrada I was referring to the number of loans comment because I think you can only have a certain number of loans with each lender at a time. Not sure if this is totally true or if its just Fannie Mae/Mac loans. 

            0Reply
          4. Jay HurstBusiness Member
            Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
            3y
            Quote from @Ikenna Okoye:

            @Erik Estrada I was referring to the number of loans comment because I think you can only have a certain number of loans with each lender at a time. Not sure if this is totally true or if its just Fannie Mae/Mac loans. 

             @Ikenna Okoye    You can only have 10 Fannie/Freddie loans. But, most DCSR programs do NOT have a limit of how many properties you can have financed. 

            Hurst Real Estate, INC4.991 Reviews
            WebsiteView Page
            0Reply
          5. Jay HurstBusiness Member
            Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
            3y
            Quote from @Jay Hurst:
            Quote from @Ikenna Okoye:

            @Erik Estrada I was referring to the number of loans comment because I think you can only have a certain number of loans with each lender at a time. Not sure if this is totally true or if its just Fannie Mae/Mac loans. 

             @Ikenna Okoye    You can only have 10 Fannie/Freddie loans. But, most DCSR programs do NOT have a limit of how many properties you can have financed. 

            @Ikenna Okoye I just realized I was not clear on my answer. Fannie/Freddie will allow you to have up to 10 loans of any kind. So, that means Fannie/freddie loans, DSCR loans or any other kind of loan including loans vested in a LLC with a personal guarantee. DSCR loans do not typically have a limit although one investor may only allow a certain number financed with them.

            Hurst Real Estate, INC4.991 Reviews
            WebsiteView Page
            1Reply
          6. Melanie ThomasBusiness Member
            Real Estate Broker · San Antonio · Member since 2022 · 1k+ posts · 489 votes
            3y

            TAPFCU and Longhorn Investments. Happy investing!

            [email protected]
            RentWerx Property Management4.73300 Reviews
            WebsiteView Page
            0Reply
          7. Dylan M. Davis
            Lender · NJ · Member since 2022 · 129 posts · 18 votes
            3y

            Hey Ikenne, would love to help. We're a direct lender out of NYC working with investors like yourself. We can do DSCR loans based off of property income. As well we can do unleased cash-outs at 3 months of seasoning but the leverage is adjusted down. These are business-purpose loans so having an LLC is encouraged.

            0Reply
          8. Adam Bartling
            Lender · Rosenberg, TX · Member since 2022 · 286 posts · 130 votes
            3y

            @Ikenna Okoye we help people win in RE. Based and licensed in Texas.

            1Reply
          9. Ann McleanPro Member
            Member since 2022 · 31 posts · 16 votes
            3y

            I am also interested in contacting lenders who can finance my deals out of current hard money loans of 11% once the rehab is completed and property rented out. Thanks 

            0Reply
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