All Forum Posts by: Andrew Zamboroski

hey folks, i have a primary home with a mortgage and an investment property with a tenant inside and no mortgage on it. I recently acquired a building that i will be turning into a restaurant. I want to either cashout refi or get a HELOC on the investment property for about 250-300k to use towards remodeling the new building. My concern is my DTI to include front and back end is about 60-65% is there anyway i can take some of the funds from the cash out refi or heloc to pay down my debt and lower my DTI as closing to actually qualify? Or would i not be qualified until i am within their DTI range? Thank in advance

Looking to scale my rental portfolio. I have been in the search of lenders with low or no minimums for purchase/ refi. Have found that most DSCR lenders have 75k-100k minimum loan amounts. I live in a cheaper market with a lot of sub-75k properties. Current lender have no minimums but the fees are high and they want 30% down. Looking to possibly connect with a new lender and discuss my options. Thanks!

I'm in search of the best hard money lender recommendations in Michigan. I've got a project in mind that requires some financing, and I'd love to hear about your experiences and any trustworthy lenders you've worked with in the state. Your insights and recommendations would be greatly appreciated! Thanks in advance.

Hello,

I am planning to start investing for rental properties ( maybe rent it to section 8) in Detroit MI. the properties I found are around 50k each and I can buy 2-3 of them ( with 20% down payment). I know it is near impossible to find a lender that would finance properties within this price range but I would appreciate any recommendations .

Thank you

Hey all! I used the "Find a Lender" feature but didn't have much luck - I'm looking for a lender who will lend for a 7 unit multifamily in Covington KY, for a purchase price of $545k.....any leads are greatly appreciated!

I have property I procured with hard money which is approaching the due time for me to refinance into a conventional loan. I got a quote from a company we decided to move forward with. This will be a DSCR loan. However, it appears we underestimated the annual taxes, so I am being told that after factoring in the higher taxes the property will not meet the DSCR requirements. Lender tells me my best option is to do a 10 year interest only with a 30 year term. I am new to RE investment and I am not sure if going the 10 year interest only is a good choice. I'm seeking advise on what my best options are? Thank you in advance

315k purchase, 70k rehab, 470k-510k ARV

hard money for purchase price we would pay the rehab cost. 8 week rehab period. Comps are 14-30 day sale on market average for the area. 

Hello, I’m in the middle of securing my first multi family property. I have the funds, and 700 credit score, but unstable income.

What are the best options to lock in lending for this deal besides getting a co-signer? I’ve heard hard money lending, private lending, and gap lending could be answers to this situation. Are they good answers in your experience?

Or should I suck it up and try high down payment owner finance and say **** lending?

Does anyone have a lender that does DSCR with a short seasoning or no seasoning?

Im doing BRRRRs in St Louis and the rehabs are pretty short 2-4 weeks. 

Im looking for options to pull my cash out faster 

I'm looking for anyone interested in a hard money loan for a flip in Tacoma. Any help would be appreciated.