All Forum Posts by: Chris Cambridge

Some items to note would be time of ownership, rent roll, type of leases, lender appetite. Some lenders may only lend 50% free and clear assets if they have no relationship with you. Some may not need an appraisal. 
They all will care about cash flow.

Everyone sees it as a scared reality. If this is your gifted area you would know what works. The fact that you have exposure to tenants is a big plus in understanding the thought process and expectations of the other party. Also constantly being in the environment through leasing is giving you access. This is not everyone's cup of tea but that might be the edge you want.

If you have a working concept that should give confidence for the deal. Rates are always a moving target but expect 10-13% at 50-65 LTC that can be potentially up to 60% ARV. Obviously the numbers call the shots. That's a small loan but there are options for it. Are you ready to get funding or exploring?

PM me I may have a contact

No matter how rosey you spin this you gave project NOI. What is the real NOI?

Also be conservative on deals this size and use 65% LTV.

What are the lease terms?

You mentioned Refi in the subject but you are buying so I ASSUME that you want advice on your exit. Simple, if you use projected NOI at 1.4 or more DSCR with max 65% LTV that is your max number.

????

A bank is not the place to have a smooth transaction for this type of deal. Short term capital willing to play ball and make the dream come through (true).

Reach out. Sent you DM. Programs may be a fit.

We broker capital with lenders who strictly work with investors nationwide. My curiosity is though why would you be concerned about lenders license in states? Are you trying to collateralize property from one state and leverage equity for deal in another state? If not money in FL and money in UT is still $US. Don't paralyze yourself.

Ideally you must have all three scores above 680. The higher the score the higher the LTV up to 80%. After all is said and done have at least 6 months reserves. When it comes to your credit use creditchecktotal.com or experian to pull. DO NOT use that crdit karma crap or do a hard pull.