All Forum Posts by: Andrew Zamboroski

My client recently purchased a home with a hard money loan and have successfully rehabbed it for use as an Airbnb rental. It has been operating for 2 months now. Our lender has informed us that we need 12 months of rental history to use the actual rent for financing purposes, or we must rely on the appraiser's fair market short term rental value. The challenge we're facing is the lack of short term rental data for the appraiser, and we won't know if it will meet the debt service coverage ratio (DSCR) requirements until the appraisal is complete.

Has anyone dealt with a similar situation? Do you have any suggestions on how we can secure long-term financing under these circumstances?

Thanks in advance for your help!

I'm looking to secure a HML for a fix n flip in Florida and for now and am only looking to secure for the purchase price only and handle the rehab costs myself. One of the side benefits is that I can avoid the whole draw/inspection process (not overall inspection, just the ones tied to the draws) and don't have to worry about draw fees. I imagine the whole process is simpler but can anyone tell me how different it is when you don't borrow the rehab costs? I'm guessing they want some sort of updates during the rehab.

I came across this "PML" via facebook and everything was going great until it came down to the day. I was maybe getting the property under contract. He wanted me to paypal him 750 so that he would send the 20k needed to bridge the gap in the loan.

Hi, I'm researching financing options for non-US citizens who wish to purchase multifamily investment properties - around 4 units to start with, for example. 

If you know of any lenders or if you are one of them, please feel free to reach out. I prefer public comments here before you send a direct message, though. 

I work outside of the US (Hong Kong), making slightly north of 100k per year, with scheduled salary bumps of approximately 4k per year. 

Thanks. 

As the title suggests, I am just starting to enter the REI world. My first deal looks like it will fall through because the bank doesn't like my work history. (4 months as a union electrician, which the bank considers contract work). I am wondering if any lenders or knowledgeable investors know how feasible it could be to get a DSCR loan as a first-time home buyer/investor. I am 21 with excellent credit and have enough/will have enough for the high down payment they require. I know and am prepared to do all the overhead work necessary to find a property that will qualify, but I just want to know if it is possible in my situation. If so (and even if not), I would love any recommendations to a loan officer in the metro Detroit area.

Thank you in advance,

Aaron Raffaelli

I have a home under our names. I want to cash out refinance and close it under our LLC as DSCR mortgage. Its being operated at STR from last 30 months with great cash flow. Please reach out if you are a lender or can connect me.

5 Bed 2 Full Bath & 2 Half Bath

Existing Mortgage ~$550,000

Home Value ~$1.1+ Mil

I'm curious on peoples go to approach to secure financing for an investment property - use a broker? start w local bank or CU ? or even a local brick and mortar bank?

Hi all,
I am newer to this website and community.

quick question for everyone. I have multiple properties and am thinking of just doing non qm loans moving forward. I don’t want the hassle of conventional lending. It only seems like 1.5% difference.

thoughts? 

P&L, Bank Statement, DSCR etc

Hello BP,

I recently found two lenders that offer 5% rate loans. I'm not sure if this is legit. Have you received this type of advertising as well? I found them on FB. I sent them a DM and they sent me the Terms which I will be sharing with you here. Is this a SCAM? 

Recently completed a cash-out refi and want to take that money and buy 2 additional properties (~$200k or less each).  Currently have 3 rentals and conventional lending has been my norm, but all the local lenders are predominantly 25% down.  Some have a 20% down, but the rate rises significantly.  Great credit scores and plenty of income from my W-2 source.  Are there decent 15% or 20% options out there for purchases in Alabama?