All Forum Posts by: Andrew Zamboroski

I am a foreign investor, living in France. I own 1 SFR in Ohio and would like to increase my investment.

I am looking for a lender that is able to offer a DSCR loan up to 70%LTV, so far the best proposition has been 65%. The property I intend to purchase is below $90k.

I would be grateful for any useful suggestion. Thanks in advance for your input.

Hi Everyone,
I am a Canadian citizen, non-resident foreign national. I have both an EIN and ITIN in place. Do any of you have any lenders that work with Canadians? I have worked with Express Capital in the past, but looking at other options. I have a 4plex that I am looking to Refi, and also seeking financing on a multifamily/commercial property in the near future.

Thanks

Maciej

Hi, 

As interest rate is dropping with impending federal reserve's announcement next week, I feel like this is a good time to tap into equity in my investment property in Cambridge, MA 02141 and maybe purchase another property with cash.  Any local lenders to recommend? 

Hi Biggerpockets Community, glad that I created an account with biggerpockets. Aside from this any recommendation about groups that  should join or actively participate to maximize my reach? I am a CPA and a private money lender, Thank you!

Hi Everyone, 

I am trying to understand if lenders for DSCR loans will take midterm rental rates into account or only long term rents of the area? This would be specifically for a property that doesn't have previous rental history. What would you guys say are the downsides of DSCR loans? Are there other loan products similar to the DSCR loans that can also be utilized for investment properties?

Additionally if anyone is a broker and can help find the best loan terms for DSCR (or other investment loans) in the Cincinnati Ohio area please let me know!

Thank you,

Aamna

Hi, I'm looking to refinance my Canton, OH (44714) BRRR property. Assumptions I provided to a mortgage broker is below. Below that was her response to a 30 yr fixed rate DSCR rates, plus origination and underwriting fees.

I would appreciate this community's thoughts on these rates, origination and underwriting fees. Thank you!

Assumptions:

Credit 720

Single Family Investment Property

Property Value: $120k

Amount financed: $90k or 75% LTV

NO Pre-Payment Penalty (not allowed in Ohio)

DSCR Ratio 1.25+

30 YR Fixed Rate DSCR:

• 8.250% with $2475 in discount points. P&I payment: $660
• 8.125% with $2148 in points. P&I payment: $668
• 8.25% with $1800 in points. P&I payment: $676
• 8.375% with $1462 in points. P&I payment: $684
• 8.875% with $0 points. P&I payment: $716

Origination Fee: $4500

Underwriting fee: $1395

Hello Fellow Investors,

I am excited to be under contract for my first STR property, but I am getting nervous about the many things I'm already discovering. I am surprised that my lender is asking me to access Social Security Records and a tax transcript. Since this is a DSCR loan and I already provided account statements with proof of funds and my mortgage statement for the principal residence, I didn't expect much more would be required. I have no issues, but I didn't need to provide so much information, even for a conventional loan. I appreciate any feedback. Thank you.

Greetings, 

I’m reaching out to the community to find investor-friendly lenders for a cash-out refi on two properties. Your assistance is greatly appreciated. Thank you in advance!

Newbie here. I have a situation that need advises. 

I won the bid from the county auction. 

The house is $225K value. I need $65K to close the auction. My usual lendor has the health issue and can no longer fund it. 

I have two other rental properties that I can use for collecteral. I own them free and clear.

I have contacted traditional lendor for a loan but looks like they can't close in time. What is my option here?

Hi, Everyone. I just wanted to introduce myself. I am based in Australia and an Australian citizen looking to start investing in Duplex to  4plex-style residential. Perhaps you could say I am an experienced property investor, but I have precisely zero experience purchasing real estate in your country.  In the past, I have owned residential real estate in remote locations ( other countries than my own ) and been successful in buy-and-flip, buy-and-hold, and some simple small-townhouse developments. Right now, I am reading everything I can and preparing for my next research trip to North Carolina. My goals are not too crazy, but I do want to establish a portfolio that is significant to my family over the next ten years. Back home, I work as a mortgage broker. My real passion is residential real estate. I don't know if any of my experience will transfer to your country, but I have noticed over the years that despite the number crunching and research, real estate is ( for me at least ) a people business. That is, the real task is to find good like-minded people. Buying sight unseen is not an issue for me, but I would only buy in locations I have visited and walked.  Anyway, I value everyone's time, and just in case you see my name pop up in a forum thread, you will have some context.