All Forum Posts by: AJ Exner

With the move down in the treasury market, has anyone priced out DSCR loans? Just curious where rates are pricing out currently.

Good afternoon all,

Looking for some quick advice as this is my first REFI and I am having alot of doubts. I bought this property in college, renovated it while renting out the spare rooms and no use the property as a long term rental. I would like to pull the equity so I can continue building my portfolio. However I am having doubts- rates are so high right now I will be making under $100/month in cash flow. My cash out will be 66k, which is very exciting, but I will need a 16% return to justify the loss in cashflow. Below are some additional numbers:

Previous loan:

88k

2.75% int

$950/month cash flow

New loan:
168k

7.625% int

100/month cash flow

Please let me know what you think of this.. I can REFI when rates get low again- but there is no telling how long that will be and it costs 5-10k to refi.. Any advice is greatly appreciated!!

Able to put money in / cover the rehab and a down payment, just need to find a way to get to total amount needed

looking to expand my rental portfolio by looking at properties in St. Louis and Indiana. most of the properties been viewed are between 70 and $100,000. Are there lender recommendations that do loans under 80,000? especially DSCR?

Most lenders impose a minimum 100-150k lending amount, even less will go below the minimum and lend on an LLC. And 60-90k is also typically too low for dscr loans. Wondering if anyone knows any good places?

Hi all,

Looking for recommendations or successful personal experiences with investor friendly lenders in the Ohio/Columbus area. Would like to find financing options (DSCR/Traditional) for a cash purchase i've renovated and are looking to hold long term. If you have had a good experience please let me know.

 But would I only be able to get 5k out since it only appraised for 150k?

Hi Everyone,

I'm seeking a private money lender for a $350k loan to finance a small commercial 6-unit rental property. I'm able to provide a 10-12% returns or equity if they prefer, with the seller financing the remainder.

Does anyone have advice on connecting with private money lenders and securing the necessary funding?

Thank you! 

Hello, so I bought my first house and before I bought it, I didn't know about the BRRRR Method. I purchased the house for $145,000 and they were asking for $180,000. It appraised for $150,000. Renovations would cost around $30,000 but the only things I've done are Plumbing, foundation work, gas line, and new windows. All of this has cost me about $10,000. I paid in cash for all of this. My question is, since I already closed on the house, can I still do the BRRRR method? If so, how do I go about it. Should I do a HELOC to renovate the rest? I'm thinking of doing the BRRRR method but house hacking it since it's my first home. Is this possible? I just started watching a lot of videos on the BRRRR method and don't know what to do after doing those repairs. Can someone give me advice? I have all the numbers from the loan if someone needs them to help me run it and for it to make sense for me. I guess I'll see if I made a good deal or not in order for this to work.

Hello All,

I am fairly new to REI and taking some baby steps to do research and find lenders that will fit my needs. Has anyone used BackFlip to fund any deals?