All Forum Posts by: Andrew Zamboroski

I am looking to finance 8 duplexes. The complex is currently bringing in a gross 10k monthly in rental income and is priced at 975k. I have 4 units currently in the same city and know from experience that the duplexes are rented cheap. I have ran the calculator and the property cash flows as listed. I think I can buy for around 890k. What is the best way to get this thing bought with minimal down payment. My other units are all owned free and clear if collateral is needed. 

1. Nice looking terms that are not realistic with the current market. 

I am not sure why some investors still fall for this one. Everyone is after the lowest rate/ no cost/low cost loan. You will probably get this at a local bank or credit union if you have other assets invested with them, but not in the hard money/non-qm lending space. Lenders, brokers, and loan officers are in the business to help you get financing and make money. They are not going to cut you any favors and do your loan basically for free. What I see most commonly is Investors calling up a bunch of lenders or emailing them, plugging all the terms on a spreadsheet and going for the lowest one. I wish it was that simple, but you are not accounting for the fact that this industry is not regulated like a consumer purpose loan. You will very easily fall into the trap of a bait and switch if you don't actually take the time to research the companies and ask the right questions. 

2.  Getting the runaround (requesting more docs, taking longer than usual, or just simply not being straight forward)

This usually happens if you are working with a broker that doesn't know what they are doing. If you keep pushing back your closing date, and the broker is constantly going around your questions, this is clearly a sign that you may not close on the loan. Always ask for conditional approval letters and review them with your broker. 

3.  They have a do it yourself business model. 

There are a lot of lending companies and broker shops that have a do it yourself model. This is not good as you basically risk screwing up your own financing. An experienced loan officer is going to look at your file and ask for the docs he/she deems necessary in advance. This avoids you sending in items that will kill your deal or make it difficult for you to close on the loan. 

Hello everyone! I'm new to bigger pockets and would like to introduce myself. My name is Samuel Thomas and I'm located in Lady Lake, FL, which is essentially The Villages (largest retirement community in the United States). I'm a Marine Corps veteran that got out in 2017. Was stuck in car sales for about 5-6 years and did pretty well while I was in it. I currently have my real estate license and am working for a brokerage as a listing agent. 

Long story short on how I found myself with 2 paid off homes. My wife was in a very bad car accident (she's made a 100% recovery) and we eventually got a large sum of money as a result of that horrific accident. I took 2 years off from work to enjoy life with my wife that I almost lost as well as my 2 kids and was able to do so because of the money we received from the accident. I'm currently kicking myself in the butt now because I'm currently trying to use either of my homes equity to start making other investments, but with me not working for 2 years it seems like most lenders wont lend to me for that reason. I have quite a bit in savings, stocks, and then my home equity. 

I use one of the properties as a rental that puts about $1800 in my pocket every month. I bought that property for 244k and now its worth around 310k. My home residence is also paid for and worth around 330k. If I'm unable to get a HELOC on either home then all of that equity is just sitting around not being put to use. Was wondering if anyone had any other route I could go as far as accessing some of my homes equity. I'm looking to either buy more rental properties around my area or exploring rent to retirement options where I could collect passive income while holding new properties. Pretty new to real estate investing and have been trying to get myself familiar with all things investing. I've gotten lucky with my past purchases but I don't wanna push my luck.

Anyone use rent to retirement? How was your experience? Are the numbers usually pretty accurate.

I know this post has quite a bit of information and I'm asking pretty broad questions, but any information would be helpful! 

I'm trying to understand the amount of money that is either left in the deal or considered "gained" through a refi.

At the highest level - What do I subtract from the big chunk of money I get from a cash out refi?

Example: If I am lucky enough to buy a property for $320k, put 25% down ($80k down :: $240k loan), put $200K towards rehab, and lets just guesstimate about $35k in closing cost and holding cost while rehabbing. So roughly $315k cash out of pocket. I guess a super conservative ARV number (likely higher) of $650k... the refi (~70%) would come out to about $450k.

What do I subtract to figure out how much money I lost/ gained? ($450k) - (initial loan amount?) - (cash out of pocket?) - (anything else?).

Any info would be greatly appreciated

Hey friends — I'm looking for a mortgage broker who knows the ins and outs of rural properties near Fort Worth. Got any good recommendations?"

Hi everyone,

I'm looking for a DSCR lender that can help with a $115,000 loan amount. I’m putting 20% down, and the property is an investment rental.

Most lenders I’ve spoken to have higher minimum loan amounts ($100K+), so I’m hoping someone here has experience with a lender that works with smaller balances in this range.

Any recommendations or broker referrals would be appreciated!

Thanks in advance 🙏

Hi All –

Thanks in advance for your feedback. I'm researching DSCR financing options before moving forward within the next ~2-3 months on this. I've read some other posts on the topic, but wanted to start a separate one with a few specific questions.

Background:

• - My partner and I own 2 properties with conventional financing, we have a Tenant in Common agreement between us
• - Financing was only set-up under my partner’s name by mistake
• - We are both US citizens; however I live abroad (receive a foreign salary) and file US taxes
• - Good credit scores
• - Both properties cash flow with PITIA ratios of ~ 1.2

We'd like to re-finance so that we are both on the financing and it seems that a DSCR loan would be a good option given that I live outside of the US.

Questions:

• - Could we close a DSCR loan virtually or would we both need to be physically present for closing? (Virtual closing is preferred)
• - Would we need to have an LLC to move these properties under a DSCR loan, or could my partner and I leave the properties in our names?
• - Would a DSCR loan for Pennsylvania properties trigger title insurance? If the above is yes and we would need to pay for title insurance anyways, then I assume it would make sense to move these under an LLC
• - Are you aware of any watch-outs or other considerations we should factor-into our decision?

Thanks again,
Evan

@Brett Cook...85% does exist, with many of the lenders I have in pocket, but most of the time, the debt cover ratios don't work because the pricing is worse than say 80% or 75%. As Harold mentioned, 720+ is a bare minimum for any lender able to do this. In all the time I've done DSCR loans (since 2012 before they became a 'thing'), I've never seen a 85% LTV deal work on a 1-unit property. If you think you have something in hand, I'd be interested in seeing the quick details (below).

*Address 
*What is your credit score? (if you don't know, provide a range)
*Do you own a primary residence and/or any other rentals?
*Purchase price?
*Is the property rented?
*What are market rents?

Hi BP!
My name is Kaitlyn and I’ve been listening to Bigger Pockets for the past few months and am learning as much as I can about real estate investing!
I’m an Asheville native and recently inherited a home on 5 acres that I have been renovating for the past year. It’s almost finished and I intend to rent it out. Also on the property, is a detached garage and a 2 story barn, both which have electricity and are in great condition. 
I'm looking to explore options on how to best use the equity and potential in my property. I've considered converting one of the buildings into an ADU, or subdividing and selling part of the land, or pulling equity out of the house to invest in another property. The house is paid off but I took out a $50k loan from a family member for the renovations that I need to pay back within the year.
Since I don't intend to live in the home, and I've been on unemployment for 6 months due to Helene (just found a new job but my income wasn't what it was pre-flood), a DSCR loan seems like my best choice.
I would love to hear from investors in the area on what my next steps would be to capitalize on this unique property. It is outside city limits near the French Broad River in Woodfin (no flood damage). Thanks in advance for any advice or ideas you have!  

Hey BiggerPockets community!

My business partner Rudy (US citizen & Texas resident) and I (non-US resident based in Europe) are buying through our LLCs registered in Texas.

We’ve got a turnkey property under contract for $58K, already rented at $1,890/month with Section 8 Tenants, and appraised at $67K. The plan is:

1. Close with a hard money loan—interest-only, 6–12 months.

2. Then refinance into a DSCR loan once we season it or get a new appraisal up to $75K, allowing us to ideally cash-out or at least refinance the full amount.

Here’s our challenge:
We want to put as little money down as possible—ideally 0%—or structure it creatively with gap funding, seller-held second, or any other method that makes sense.

Our Questions:

✅ Has anyone pulled off a hard money loan with 0% or minimal down on a deal like this?
✅ Any lenders (preferably familiar with Texas) willing to fund the full purchase or with creative terms?
✅ Any gap lenders or strategies you've used to plug the down payment temporarily until the DSCR refinance?
✅ What obstacles should we expect when refinancing from a hard money loan into a DSCR loan if one partner is a foreign national?

This is a strong deal in terms of cash flow and equity. We just want to maximize leverage, move fast, and recycle capital.

If you've done similar deals or know hard/private lenders comfortable with this kind of setup, we’d love recommendations. Open to partnerships or creative structures too.

Thanks in advance for the help! 🙌