All Forum Posts by: Andrew Zamboroski

I have a 6-unit complex (not in Detroit, MI) I am looking to pull cash out of. I purchased this property and have completely rehabbed it, and looking to pull out cash. Would prefer to go the DSCR route, or something showing lease agreements. Property is owned in an LLC w/ one partner.

Hi - I am looking for a cash out refi for a SFH that we bought in all cash about a year ago. I am looking for the best options to get a long term rate around 7%. Is this realistic in today's interest rate environment?

Location: Northwest Ohio

Purchase Price: $160K

Rent: $1470

Thanks!

Parker

How do you finance Buy and Hold real estate under $85,000.00? What If I am able to get them tenants stabilize, will they lend for me to renovate them? I've used hard money for larger flips, but for stuff that makes sense for a buy and hold. How do I get the long-term financing and the money to renovate to make Tenant ready? can anyone recommend a lender?

Hello BPs, 
I am newbie here and have a question related to DSCR loan. I own multiple rentals (with conventional loan types) and its getting tougher for my next big rental ($2M property) which I am going to purchase through a partnership LLC. I heard about DSCR loan where it looks at the property rental income to purchase value ration and not your credit history. Is this true? Would this new DSCR loan be still reported/shown on all of the LLC partners credit history? I dont want it to be impacting all of our credit score.

Appreciate any response in advance. 

It would be a residence, and most brokers won't be able to fund it with a DSCR either due to the litigation issue. I've tried that route which is what brought me around to the HELOC.

What's the going rate for 30 year fixed DSCR (loan amount approx $150k) Good credit and enough experience investing. Looking to add to my portfolio! Yay!

I own an Airbnb in a desirable vacation rental market. The area is more rural, however it's a desirable vacation destination and we offer a high end farmhouse retreat experience. I know rural properties can be a little tricky to navigate, but curious what max leverage would look like on a DSCR Cash out refi on a deal like this. Ideally using STR AirDnA projections as well. I own other STR's. Thanks!

Exploring financing options for expansion of our residential ground up construction projects.  Currently building 5 homes at a time for our own book and 20-30 at a time for private equity groups.  Would like to expand our own portfolio with additional capital.  Would like some suggestions on where to look.  Banks are too slow for our draw schedule. We have a 4 month construction time and pent up demand.  Thanks 

Kent 

Hey, all!,

Thanks for taking the time to read my post. I have a few different deals but I have found an off market property that I am interested in. The asking price is 77K and a couple different lenders that I have worked with in the past will not lend that loan.

Looking for lending options. High liquid cash is fairly low as I am just finishing up a rehab.

Thanks for your time!

Good day! I stumbled on a good opportunity and I wanted to ask advice about quick lending resources. A local builder overextended himself and he needs to unload a brand new SFH in order to finish his other projects, multi family houses that he intends to keep for rentals. He ran out of funds and was not able to pay the electric company to hook up the meter. That is the only thing left to complete the house. That will cost about $3000 for the utility install. There was a temporary connection for construction, this cost would be for the permanent installation. He built the house next to this one as well. That house was completed, listed on the mls for 624,000 and is currently under contract. The houses are the exact floor plan, design, interior, etc. the only difference is that the house @ 624 k has the meter installed and he completed a boat dock (approximately 35k to build). I am going to get the house without the meter under contract today for 335k. Both homes are waterfront properties on a boating, sporting and fishing lake in East Texas. Both lots are nearly an acre. I can wholesale the house for a quick profit but I would rather purchase it to resell. My husband is a real estate agent. We have plenty of comps that show that the house could sell for over 500k for a quick sale. I could get more on the retail market if I held on to it until summer, when the lake market in our area really takes off. My question is, what would be my best resource for quick lending? I will buy the house far below the ARV. It is completely finished except for the electrical utility hook up. We currently own our home and we are in the process of renovating a lake house that we plan to hold as a short term rental. We have always used conventional lending, but I would like to get established with a hard money or private lender that I can work with for future investments that can close quickly. I have really stepped up my lead generation and have several sellers who are ready to offload their properties at good prices but I am currently stuck in a place where I need financial resources to make quick offers. I am very conservative with purchase considerations and I feel that this would be a very low risk investment for a lender since there is no remodeling and the house will appraise for far above the price that I will pay for it. Any suggestions for lending resources would be greatly appreciated.