All Forum Posts by: Alex Hunt

@Kesete Thompkins You are thinking of only bank/ traditional financing. Do you own these properties in a LLC or business entity? If not, do you have one you could transfer them to?

With DSCR loans they are business purpose! Meaning they go under the LLC or other entity type, this would take the loan off your DTI completely! DSCR cashout refinance is typically 75%LTV.

Happy to connect on this.

Krishna all great questions! 

Bank loans can be a variety of thing CMBS, Fannie & Freddie, and more. Yes DTI maybe an issue if you stick with traditional bank financing. Brokers are great to help you weigh through the options!

70%LTV should be doable but most likely not a bank, depending on cash flow of the location. When looking at a commercial property like strip mall it's a more advanced DSCR calculation, as it can include CAM's, an expense factor some use 20-40%. 30 year commercial loans do exist, I do not like ballons personally.

Happy to help further on this & any future purchases as well!

Happy to look at this, send a message. Lake home's depending where, rural or not can be issue for some.

Glad to see this diligence working as the community was able to help, love BiggerPockets!

Happy to connect on any current or future options!

Why not do the loan under your wife, if she is the one who inherited it. You are most likely having trouble as you aren't on title for ownership of the property. It's also not rented yet so there is no income to DSCR, the tenant would need to be in place or at least moving in prior to closing.

That doesn't mean you couldn't get a negative DSCR loan or bridge option, there are many options. Hope this helped, happy to connect further!

Hey Michelle, have a couple different solutions for this and the purchase as well.

Send a message for more information!

Weigh the options. $200k cash flow is awesome, but diversifying & adding another property is also awesome & should increase the cash flow. 
Do you need a max LTV cashout on the $200k property to purchase something else? Have something specific in mind for the next purchase?
if so, take a refi that gives you 20-25% of the new purchase down payment. 
this will allow you to keep the cash flow high on the existing and have those funds as down payment to get a loan on the new. 

Happy to connect on the financing aspect! Also have some experience in ground up, but large lake houses versus MFH. 

Congrats on the 80 units, that’s awesome! 

@Will Gaston this is awesome! Love seeing experienced investors sharing their stories, and such detail. 
Would be happy to connect on any financing questions or future deals!

Happy to connect on this, let’s chat!