All Forum Posts by: Alex Bekeza

I'm thrilled about a new tool we've launched that allows borrowers to get their own real time pricing for DSCR loans with a few simple clicks 24 hours a day 7 days a week. This portal is not only great for getting the submission process started with us but also an awesome tool to play with when pre-underwriting deals. We're going to continue to add features every single week to enhance the user experience and make getting a DSCR loan as easy as possible.

Here's the link to this new tool - www.investorpropertyloan.com/DSCR

While our company does still offer other unique products, this tool will be unique to long term rental units. So if you have a short term rental, flip, or other unique scenario we can still totally handle that but it would fall outside of this new calculator.

check out insuremybrrrr.com 

@Donyea Jenkins Great question. In general, DSCR loans will require the property to be either leased or at least "Rent Ready". Some may have very small thresholds for repair holdbacks on purchases but this is typically limited to make ready items not to exceed $2,500 in costs to cure. The underwriters will be looking at similar property condition requirements (c4 or higher) of a conventional loan (no deferred maintenance or safety hazards which would affect value). However, there are other loans designed for fixer uppers referred to us hard money loans, bridge loans, or fix and flip loans but whatever you want to call them they're essentially short term, interest only loans with no prepayment penalties designed to finance a higher % of your purchase price and typically all of your renovations not to exceed a certain % of the ARV (typically 75% max). Then once you've fixed the property up and at least have it listed for rent you could refinance into a DSCR loan. Most DSCR loans will have very limited seasoning requirements to use the new appraised value to refi. This is what makes the hard money to DSCR combo a great one-two punch for the BRRRR Strategy.

I'm thrilled about a new tool we've launched that allows borrowers to get their own real time pricing for DSCR loans with a few simple clicks 24 hours a day 7 days a week. This portal is not only great for getting the submission process started with us but also an awesome tool to play with when pre-underwriting deals. We're going to continue to add features every single week to enhance the user experience and make getting a DSCR loan as easy as possible.

Here's the link to this new tool - www.investorpropertyloan.com/DSCR

While our company does still offer other unique products, this tool will be unique to long term rental units. So if you have a short term rental, flip, or other unique scenario we can still totally handle that but it would fall outside of this new calculator.

@Bruce Bennett Google Reviews are great and Bigger Pockets reviews are even better! (because they're bona fide by being tied to the reviewers BP account). Bigger Pockets also vets lenders a bit before allowing them to participate in the Bigger Pockets Find A Lender tool so they've already done some of the due diligence for you. 

See ya'll tonight!

Real Estate on the Rocks Community,

As a company born and headquartered in Los Angeles, our hearts are heavy with the ongoing wildfires that have devastated our surrounding neighborhoods. We feel deeply connected to the people and places impacted by this crisis, and our thoughts go out to everyone affected. We also want to express our profound gratitude to the firefighters, first responders, and volunteers who are working around the clock to protect our city and keep our communities safe. In the spirit of resilience and gratitude, we invite you to join us at our Real Estate on the Rocks meetup tomorrow. While we come together to discuss real estate investing opportunities in these trying times, we also want to give back in a meaningful way. We are suggesting that you bring in donations of sports drinks, Chapstick, batteries, head lamps or a donation of $20, which we will use to purchase the same items for local firehouses. We are committed to helping our community recover and heal. Just as others in Los Angeles have generously contributed—donating and providing essential support to responders—we, too, want to do our part. Thank you for standing with us, and for your willingness to help the brave individuals who continue to fight these fires. We look forward to seeing you tomorrow, and we appreciate your partnership in supporting our fellow Angelenos during this challenging time.

Warmly,

Your IPL Team

I think you just have to work it in as the cost of doing business.  Also consider all lenders will require to review your insurance when underwriting a loan and it's likely a violation of your existing loan documents to let the properties go uninsured even if they didn't require insurance escrows. 

@Brian Glasser is a solid agent/project manager in KC and has done dozens of BRRRS himself there.  

@Philip Anderson I'd recommend checking out @Baird King's meetup in Santa Barbara and @Kevin Aranha's in Ventura.  Both have great groups of folks who invest locally.  

@Martti Eckert I live in Los Angeles and have done a handful of BRRRRs in Missouri so feel free to reach out with any lending related questions to pulling off BRRRRs in Ohio.