All Forum Posts by: Boris Peyzner

We are looking for a recommendation for competive rates and low costs to set up an unsecured line of credit.  Recommendations are appreciated!  

We are looking for a bookkeeper that is familiar with quickbooks to manage the quickbooks of our growing real estate company.  We are located in New Jersey and prefer someone local.  Thank you for recommendations.

I just completed two refis.  I did a 10/2 Arm with a small community bank.  The first loan was 4.25 on a cashout refi for a 2 family home.  The second took a little longer due to no fault of the lender.  The rates jumped a bit and i refied at 4.5 on a 10/2 also on a cashout refi for 2 family home.  

Every bank is required to register with the state it does banking.  A creative google search can get you the list, then just go down the list and call the banks you never heard of before.

Thank you for the reply.   Im sure if I wait, my score will go up.   The problem is I bought and rehabbed the property with my cash so I need to unlock it.   I don't want to wait 30 day in the hopes of getting over 720 and then another 30-45 days to complete the refi.

Do you know if a non-conforming loan is an option?

Hello all, 

I need some advice.  I am in the process of refinancing my 7th property which is a 2-family home.  Two lenders I have used in the past have told me that you need a credit score of at least 720 due to fannie mae regulations to refinance properties 7-10.  Is this true?

My credit was 717 immediately before I refinanced property number 6 about 3 weeks ago.  During the refi of property number 2, anticipating refi of property 7, I paid off all my small credit card balances and brought my loan to available credit to under 20 percent on my main card.  I was hoping my score would go up but it appears that my recent refi brought my score down to 697 (still can't believe this).  

Any advice?  Are there lenders that would refi a 7th property (I want to avoid commercial or portfolio loan if possible).

Thanks

 I am looking for someone that would like to work on maintaining my quickbooks.   I would need to know what the cost would be to do so.  I can provide all of the details to analyze the level of work.

Please contract me to discuss the work in grater detail.   

.  Thanks.   I think my thread was poorly written.   I currently have 8 multi-family properties that I acquired from using cash to buy/fix/refi out to hard money to conventional construction loans,etc.   

I'm well versed in the various ways I can structure investment property purcjase/fix/get my money out.

What I am looking to do now is leverage my primary residence as much as possible.  What I heard about Kearny above was because this person did very large amount of money banking with the bank.   Anyways, bottom line I wanted to see if any smaller local banks may lend something Crazy lol 

Has anyone been able to obtain an unsecured line of credit from a financial institution your real-estate venture?   From what financial institution?  How many properties?  What was your gross revenue at that time?

I am curious what the highest someone has been able to get in terms of the percentage of the value of the house with a conventional bank (not a hard money lender).

I am in NJ and someone told me (I did not verify this yet) Kearny Bank lent based on 110% of the value of this person's primary residence.

Let's hear what you have been able to acquire.

I am curious as to what people are getting money for these days.  What are the rates people are getting on the following thirty year mortgages and where are you getting your rate?

2-3 Family Homes Construction Loans?

2-3 Family home refinance into a construction loan?

2-3 Family Homes Refinance and cash out?