All Forum Posts by: Brandon Croucier

Is your goal cashout or just better rate & terms?

It depends on your goals, I would say outsource the management & hold the asset as nobody has regretted owning real estate on a long term basis. 

You could easily get 75-80% LTC on the cabin build meaning you'd need about $200,000-$250,000 CASH, to complete the project.

Take 200k out of the FL house, build, rent, refi & payoff the FL property again would be my best bet about going about it.

20% down is terrific on land.

It's a non income producing asset which has increased volatility, typically I see 65 LTV max on land as of late.

Well how long has it been since you’ve made a payment. 

Due to your payment history it's going to be tough to refi out into something more conventional or a DSCR.

Hard money is your best bet but that’ll cost you.

If your selling, drop the price and you’ll bring in more demand.

How much are you looking to acquire the property for?

Are you looking for long term or short term debt?

If it's a 1-4 unit, you will get good pricing using a DSCR loan!

What kind of down payment can you put down?

Do you qualify with your Income?

80% Cash Outs are definitely possible, however it is a much more costly product.

I would recommend looking at 75% LTV as your rate and closing costs will be significantly lower.

If you are looking to come into a deal with no capital, best of luck.

Even if you are highly experienced you need to come in with 10% DP.

Limited on your options due to the seasoning but a DSCR lender with low/no seasoning should be able to get it done.

When will you be complete with the property?