All Forum Posts by: Alex Bekeza

@Amy McIntyre It's becoming more and more common for lenders to just calculate DSCR on STRs by using Air DNA data (typically hair cutted by 20%). We can do this without any actual operating history on a recently launched unit as long as it's furnished and listed for rent on the various sites #airbnbrrrr

@Scott Preckwinkle Recently I've refinanced some textbook BRRRRs for folks in 39127, 38107, 38109, 38108, and 38111 but Memphis as a whole is of course one of the more popular BRRRR markets for sure.

@Courtney Rodes With interest rates expected to tick down in mid 2024 this could be considered an excellent time to enter a BRRRR.

@Preston Dean We're seeing up to 75% cash out using the new, higher appraised value as early as 90 days of ownership. A lot of our fast paced BRRRR clients will start the process with us around day 60 with the goal of funding as close to day 90 as possible. Prior to that we'd be limited to 80% of the recent all cash purchase price or 75% of the recent financed purchase price. Keep in mind my answer is unique to a DSCR loan. (not speaking for conventional).

See what our Bigger Pockets clients are saying -- > Bigger Pockets Reviews
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How to request free quotes:

• 12, 18, or 24 Month Purchase & Rehab Scenarios - Purchase & Rehab Inquiry
  
• 30 Year Fixed DSCR Scenarios - DSCR Loan Quote Request
  

For Purchase + Rehab

• 12, 18, or 24 Month Term Options
  
• NO Prepayment Penalty (*ask about our 90 day seasoning products for 75% cash out on BRRRRs*)
  
• Up to 90% of purchase price + 100% of rehab (not to exceed 75% ARV) *some zip codes are capped at lower ARVs based on risk profile*
  
• Interest Only Payments (interest is only paid on drawn balance)
  
• Rates in the 10%/11% range
  
• Minimum 680 FICO
  
• LLC Required
  
• 1st Time Investors Ok at reduced leverage (if they own primary residence)
  
• Loan Amounts from $100,000-$2,000,000 (larger loan amounts available at reduced LTC/ARV)
  
• 1-4 Unit Residential Properties Only
  

For DSCR Based Financing

• 30 Year Fixed
  
• Cash Out your BRRRR as early as 90 days of title seasoning (unaffected by recent Fannie/Freddie guideline changes!)
  
• Up to 75% LTV for Cash Out
  
• Up to 80% LTV for Purchases
  
• Minimum 680 FICO
  
• LLC Vesting Required
  
• No Cap on the # of Rental Properties Owned
  
• No DTI Requirements! (no tax returns or proof of personal income)
  
• Qualify based on DSCR/FICO
  
• Loans from $75,000-$2,000,000
  
• 1-4 Unit Properties

@Mario Morales You definitely can although MOST blanket loans will require a minimum of 5 doors, not allow you to combine properties for the sole purpose of meeting a loan minimum, and honestly, with only 3, a blanket will very rarely make sense when you consider the rules regarding partial payoffs, prepays, etc. 9/10 times doing 3 individually will make more sense right now. 

Investor Property Loan is proud to partner with Obie Insurance as our preferred insurance partner!

Working with an insurance company who speaks "investment property" can you save you both time and money and certainly makes the mortgage approval process much easier! There's nothing worse than burning business days and spending time on hold working with insurance companies who do not focus, much less specialize in insurance policies designed for Real Estate Investors. Obie has made it incredibly easy to get a quote and they specialize in creating policies that meet the criteria of the nations biggest hard money and DSCR lenders. Check out their pricing here! - www.insuremybrrrr.com.

We recently funded deals in Pensacola, Melbourne, Jacksonville, and Cape Coral and in each case our clients dealt with insurance companies who would not bind in Florida right now. Obie was able to save the day in each case!

It's too bad BP doesn't have a way to sort DSCR lenders by # of BP Reviews/References :)

How to request free quotes:

• 12, 18, or 24 Month Purchase & Rehab Scenarios - Purchase & Rehab Inquiry
  
• 30 Year Fixed DSCR Scenarios - DSCR Loan Quote Request
  

For Purchase + Rehab

• 12, 18, or 24 Month Term Options
  
• NO Prepayment Penalty (*ask about our 90 day seasoning products for 75% cash out on BRRRRs*)
  
• Up to 90% of purchase price + 100% of rehab (not to exceed 75% ARV) *some zip codes are capped at lower ARVs based on risk profile*
  
• Interest Only Payments (interest is only paid on drawn balance)
  
• Rates in the 10%/11% range
  
• Minimum 680 FICO
  
• LLC Required
  
• 1st Time Investors Ok at reduced leverage (if they own primary residence)
  
• Loan Amounts from $100,000-$2,000,000 (larger loan amounts available at reduced LTC/ARV)
  
• 1-4 Unit Residential Properties Only
  

For DSCR Based Financing

• 30 Year Fixed
  
• Cash Out your BRRRR as early as 90 days of title seasoning (unaffected by recent Fannie/Freddie guideline changes!)
  
• Up to 75% LTV for Cash Out
  
• Up to 80% LTV for Purchases
  
• Minimum 680 FICO
  
• LLC Vesting Required
  
• No Cap on the # of Rental Properties Owned
  
• No DTI Requirements! (no tax returns or proof of personal income)
  
• Qualify based on DSCR/FICO
  
• Loans from $75,000-$2,000,000
  
• 1-4 Unit Properties

@Hyeseong Park You'll get way better rates with a PPP on there.  Whether or not it's enforceable is a question for your attorney.