All Forum Posts by: Bobby Feinman

@Travis Biziorek Awesome question! The simple answer as to why is that the capital markets that buy DSCR loans do not want to reward investors for getting below market deals with immediate cash out. This is an industry standard being dictated and driven by capital markets.

Having said that, the amount of rehab need to qualify for little to no seasoning on cash out is not that great. I would say that 7-10K in rehab on a property will suffice. We will need to verify that with either the purchase HUD showing a loan with a rehab budget OR before and after pics and receipts for work performed.

Another VERY important point to make here is that the capital markets need to see a loan/lien on the property. Currently, if an investor pays all cash and there is no lien, the seasoning requirement will be between 6-12 months. Once again, this is an industry standard driven by capital markets.

Hope this helps!

@Brisa Del Cojo

Happy 4th! We only make loans to an entity such as an LLC. So...that is not an issue. What type of loan are you looking for? Short term Fix & Flip/Rent or long term rental loan?

Bobby

@Madeline McKune

Hi Madeline. Would love to jump on a call to learn more about your funding needs!

Bobby 757-222-5937

@Jamie Pickens

Hi Jamie. I live in VA Beach and would love to assist you. Call me tomorrow at 757-222-5937 to discuss further!

Bobby

Coastal Capital Funding is hiring full time Loan Originators and adding Brokers in select markets in the following states: VA, DC, MD, NC, SC, GA, FL, PA, NJ, CT, MA, TN, MO and CO!

Are YOU an Eager, Self-Motivated, Service Oriented Individual that is Passionate about Real Estate and Financial Success? If so, We Want to Hear From YOU!

The CCF Family is a Young, Dynamic TEAM of Dedicated Professionals Committed to Excellence and Success. Here are a few Additional Reasons to Join our Family:

• Unlimited, Uncapped Commissions
• Six Figure Income
• Annual Bonus
  
• In House Processing
• In House Marketing
• Exceptional Support
• Extremely Competitive Rates and Loan Programs
  • Single Family
  • Multi Family
  • Mixed Use
  • Small Balance Commercial

Please Include Your Resume in Your Email. We Look Forward to Hearing from You!

Coastal Capital Funding is hiring full time Loan Originators and adding Brokers in select markets in the following states: VA, DC, MD, NC, SC, GA, FL, PA, NJ, CT, MA, TN, MO and CO!

Are YOU an Eager, Self-Motivated, Service Oriented Individual that is Passionate about Real Estate and Financial Success? If so, We Want to Hear From YOU!

The CCF Family is a Young, Dynamic TEAM of Dedicated Professionals Committed to Excellence and Success. Here are a few Additional Reasons to Join our Family:

• Unlimited, Uncapped Commissions
• Six Figure Income
• Annual Bonus
  
• In House Processing
• In House Marketing
• Exceptional Support
• Extremely Competitive Rates and Loan Programs
  • Single Family
  • Multi Family
  • Mixed Use
  • Small Balance Commercial

Please Include Your Resume in Your Email. We Look Forward to Hearing from You!

 @Jose Vasquez Dickson Matt is correct in his post. We do not allow 2nd's on our loans. Having said that, we have several clients that use OPM (other people's money) for the cash equity needed on a deal. Your two best options are to either find a capital partner and add them to your entity and have them guarantee the loan with you OR find a silent partner that trusts you enough to make you an unsecured loan at terms both of you can agree on. Hope that helps.

Bobby

@Yangyang Jin

Hope you're having a good weekend. How much time do you have as that discussion can take weeks lol. There are a LOT of factors that go into that. The 2 immediate questions that come to mind are does your friend have any experience in the space and how much capital is your friend looking to deploy? I spent over 20 years in the space as a builder and landlord before becoming a full time lender 4 years ago. Even with all of that experience, I made a lot of mistakes and am still learning new things.

It is VERY easy to fail as a private lender. I do not say that to dissuade your friend, as it can also be very lucrative. Happy to jump on a call to with him or her to learn more if that would be helpful.

Bobby

@Trent Blackwill

Good morning, hope you're having a great holiday weekend! Not only do we lend in Kansas City, we are looking to hire an LO and have a full time presence in the market. Would love to connect to see how we can assist you!

Bobby