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All Forum Posts by: Bobby Feinman

Bobby Feinman has started 19 posts and replied 197 times.

Post: Mixed use property loan options

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79

@Kate Granahan

Hi Kate, we make loans on mixed use properties. Happy to assist any way we can!

Bobby

Post: 80% Cash out DSCR

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79
Quote from @Paige Corsello:

Hi Bobby, the majority of my business is in Pittsburgh, PA and Florida 

Paige 

I can go 80% cash out in PA 

In FL I can go 75% cash out and 80% rate and term

Post: 80% Cash out DSCR

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79

@Paige Corsello

Hi Paige. We offer 80% cash out depending on the state the property is located. What city and state is it in?

Post: Looking for DSCR loan in rural Idaho

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79

@Craig Parsons

Craig

We make DSCR loans on rural mixed use properties. I will dm you!

Bobby

Post: Looking for DSCR loan for property in TX with 2 active STRs.

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79

@Derek Stevens

Hey Derek

I looked up Dripping Springs and it appears that the property will be classified as Rural. That can be problematic with most lenders, as most stay away from making rural property loans. 

We make a lot of rural property loans. Happy to assist in any way we can!

Bobby

Post: Does anyone know of a DCSR lender in TN that does rural properties?

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79

@Tiffany Henning

We offer DSCR financing on rural properties. Would love to learn more about your project!

Post: Searching for 80% to 85% DCSR Lenders

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79

@Jace Perry

Good morning Jace. As Zach said in his post, 80% is the max LTV on a rate and term refi. That is also the case on a DSCR purchase until recently. I am now able to offer 85% LTV on a purchase only.

In terms of a cash out refinance, the industry standard is a max of 75% LTV. I have a program that will go to 80% on a cash out depending on the state the property is in.

Hope this helps

Bobby

Post: Can I refinance my personal conventional mortgage into a DSCR owned by my LLC?

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79

@Michell Chase

Good morning Michell, I want to address your comment that you are beginning to buy other investment properties under your LLC. This strictly relates to asset protection. If the properties you are buying with the same LLC are to be renovated and sold, that's fine. However, if you are buying multiple properties to keep in your rental portfolio, I strongly suggest that each property have it's own LLC.

The reason is simple...asset protection. If you own multiple rental properties in the same LLC and, god forbid, something goes wrong with one or a few, the rest of the performing properties are put at risk since they are also owned by the same LLC. Having each rental property in it's own LLC eliminates that risk and each property will stand alone and not be put at risk by another property that is not performing.

Hope this helps!

Bobby

Post: Looking for Lender in VA, 2 SFH's being sold together on 1.35acre parcel

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79

@Josh Cocker

Hey Josh and happy Friday! I am a lender in Virginia and would love to assist you with this!

Bobby

Post: Looking for a new construction lender in Norfolk, bayfront

Bobby Feinman
Lender
Posted
  • Lender
  • VA Beach, VA
  • Posts 270
  • Votes 79

@James Jeffery

Good morning James. I am located in VA Beach that does a lot of business in Norfolk. Where are you in the project? Do you have building permits yet?

Bobby