All Forum Posts by: Charlie Gonzalez

Hi William, hoping you find a buyer soon. Do you know of any good commercial lenders in NY as well?

DSCR would be the best choice for you. No income needed.

Hi Frank,

An IO option is a much better route than any hard money. Hard money will get you with their fees upfront.

Hi Jake,

Yes. Depending on the lender, you can cashout at 3 months. Maybe less.

Hi Eric,

That is totally possible. From an underwriting perspective, owning properties free and clear means you are less of a risk.

Hi Rick,

DSCR is a great option given your circumstance. Even using bank statements from your business is an alternative.

Hi Sam

Rates can start in the low 6 range. Depending on the lende. Always based on credit score.

Hi AJ,

That is correct. Non QM lenders are the outlets to be used if trying to close an STR in an entity. Normally, there should not be a pricing adjustment. You will need to talk with each lender to confirm.

Hi Alex,

What is your credit score? 
Since you run a business, we can go with a bank statement program. And depending on your credit score, you may be able to put down as little as 10%.

Please message me and I can help with any questions.

Hi Michael,

Congrats on snagging properties under market value! Huge win.

I quoted a fellow BP follower a 6.75% rate on DSCR. Yes, you read that right.

Please feel free to message me with any scenarios you are currently working on and I can help out.