All Forum Posts by: Adam Stroik

@Alex Bekeza, looking to finance purchase and rehab. Solid ARV comps. I filled out your questionnaire, looking forward to hearing from you.

Hey All,

I'm looking for a hard money lender that can lend in the san diego area. $550K purchase price and $300k construction budget. This is a single family home I will be adding two ADUs. ARV in the $1-1.3M range. Any recommendations? Quick close is a must.

Thanks Guys,  and I appreciate the link to the eligibility matrix.  That is the info I was looking for.  

Anyone have any luck finding an 80% or better LTV on a cash out refi for a 15year fixed rate mortgage? SF Home is in Wisconsin and a lot of my local banks are coming back with 75% LTV. 75% will just cover the HELOC I used to fund purchase and Reno but Im in it for more so I want as much of my cash back as I can. Home is currently titled to an LLC but I'm not opposed to transferring into my name.

Thanks for any help

@Tarik Turner it's in Wisconsin.

Greetings All,

I am in the process of my First BRRRR SFH. I am stuck on the Refi portion as I'm having a hard time finding a bank that will do a fixed rate 15 yr cash out refi with the home being in an LLC. Can anyone point me in the right direction?

Very Respectfully,

Adam Stroik

Thanks all for your inputs.  I appreciate it.

Greetings All,

I have a SFR opening up in a couple months and started accepting applications. I had one applicant with a domestic abuse on his background check. The incident occurred almost 20 years ago. what are your thoughts and am I legally allowed to ask him about it?

Full disclosure, he also has a bankruptcy 5 years ago, credit is completely shot.  I don't think Ill be renting to him but wanted to get everyones opinions on the specific things I mentioned.  Also, am I legally allowed to ask him about his bankruptcy?  

cheers

Adam

@Dennis Haefner  that is exactly what I had been running into but received a bunch of great recommendations from this post and talked to some great people that pointed me in the right direction.  Unfortunately (or fortunately depending on how you look at it). I was also advised about the seller contribution max for Fannie Mae investment properties being 2% of purchase price, which our contract exceeds.  so it looks like we will end up going portfolio commercial anyways and possibly look to refinance in the near future.

Thanks All, for the suggestions.  I knew I wasn't crazy.  Ill be calling more banks today.

Cheers All