All Forum Posts by: Andrew Zamboroski

I have a property in Austin that I acquired recently for cash. Value is $475K+. Looking for an asset-based lender for an interest-only loan of around $250K for up to 5 years. I'm leasing to a family member for minimal rent, certainly no where close to market, so I don't think it would work for DSCR. I plan to use the proceeds to purchase another property. Any ideas of lenders who could do this? 650 credit score.

I am purchasing a duplex for $390K with 25% down. I have a credit score of over 800.  The current rental income is $3,600 per month, and the property does not need any rehab.  Who can give me the best deal for the loan?  

 Hi, yes most of the 9 have been within the last 3 years. Let me know how we can connect further. 

I'm looking for a lender that can do 10%-15% down on a quick flip deal. Here are the numbers: purchase price $70k, rehab cost $15k-$20k, arv $145k based on Illinois. Any referrals? 

My current challenge is dscr/blankets for low value properties sub 75k. My portfolio is all 40 units well north of 100k but I've never done the lower end properties as I am now getting into the cleveland section 8 game from out of state.

Been working on getting a second mortgage on our home for the past 30 days with no closing date in site. Everything requested has been completed. Only “off” thing that happened was an email to our insurance rep asking to be placed as the first and only mortgagee - which I caught and they quickly apologized for and corrected. How can I tell if things are legit here ?

Hello, community! I'm looking for advice on refinancing a STR property in Pennsylvania. About a year ago, I took out a mortgage and recently added significant value to the house. However, I'm hitting a roadblock with traditional lenders, as my loan-to-value ratio (LTV) isn't matching their criteria. This seems to be a result of some smart accounting moves on my part, thanks to an investor-savvy accountant. As luxury vacation short-term rental hosts, has anyone faced a similar situation or have suggestions on how to proceed? Our goal is to pull out some of the rehab money we put into the property. Thanks in advance!

I’m at a total lost right now! 
l was just told I would have to pay 23k to refinance a portfolio rehab loan on two properties. 
they are only lending 70% LTV, my rental rates are $1785 and $1985, but the market rents in the areas are only $1400/1450.

I really wanted to keep these as rentals so I’m trying not to give up. 

The interest rate they gave me at us 7.70%, 5/1 ARM, rent to debt service ratio is 1.21

My credit score is 672. Loan amount is 283,500 for the two properties, origination fees are around $4,300. 

Property 1: ARV: 185k appraisal came back at 179k

Property 2 ARV: 230k appraiser came back at 226k

any insight will be great. Or lender recommendations. My goal was to do a rare and term. Wasn’t looking for any cash back in this market but definitely wasn’t expecting 23k to refinance these two deals. 

I own a property free and clear, that I want to rent out. First, it needs work. Since there's no income yet, I assume that DSCR financing is out of the question.

It needs about $70k of work to bring it to an ARV of $150k. Is there an equity-based product that I could use to pay for that rehab, with the intent of doing a DSCR once it is rehabbed and rented?

Thanks!

Do you focus on building relationships with a few reliable lenders, or do you keep your list broad? I’m curious how others approach finding lenders for consistent funding opportunities. Any tips for building a solid list?