All Forum Posts by: Chris Marte

Great question - Looking to BRRR the property. Estimating a 10-year hold.

Just sent. Thank you.

As a rule of thumb, what $ per SF should I be looking to do for rehab projects? 

First time investor here. A contractor has walked-through a property I'm interested in and sent over his estimate for rehab (below - includes labor & material). Not really sure where to begin when reviewing the estimate as I'm not familiar with rehab projects.

Looking for advice from those who have experience with rehabs. Are there some cheaper options my contractor may not be considering? ie. laminate flooring, etc. What questions should I ask?

Sorry, maybe I confused them with Third Fed. I called more than four lenders yesterday so maybe I got it mixed up. Think NCB, Key, and Citi all do 80% LTV on co-ops.

Thanks for the suggestion. Unfortunately, NCB does not lend on co-ops.  

My co-op is ok with taking out HELOCs on units in the building.

The bank won't take possession of the property under HELOC unless the borrower defaults on payments.

I'm currently shopping around for a lender that will offer 90% LTV on Co-ops. I know some of the bigger banks service HELOCs on Co-ops like Chase, Citi, BofA but their LTV is 70% I believe. Some lenders that offer 90% LTV don't service Co-ops.

Does anyone have a suggestion for a lender offering 90% LTV on Co-ops?

Thanks for pointing that out Jaysen.