All Forum Posts by: Devin Peterson

I contacted Rocket Mortgage they can give me a $50,000 loan with a 6-7% interest rate.  As long as the appraisal comes back at $85,000.  This isn't a rehab draw loan.

Hi all! I’m looking for a lender to help me start a portfolio. I have about $100K in cash. 709 median credit score. I don’t qualify for conventional loans because my debt to income is to high with a pending new construction primary residence loan. Can anyone help? I don’t have a particular property yet, however, I do have a neighborhood in mind so when something comes up I have to be ready to pounce. The homes are usually in the $200K-$250K range with rent $1900-$2200/mo. I can explore other neighborhoods that would produce more rent with a lower mortgage, but I prefer this specific neighborhood because of the proximity to the hospital (lots of traveling nurses and it’s a high demand area) and the school district is the best one in the county, with the highest appreciation rate in the county. Thanks in advance!! Jennifer

Hello BP,

I just signed the contract on 18 unit aparment building and looking for a lender in Chicago area.  Please suggest any good lender in the area.  Thank you.

I'm considering making an offer on a 36-unit multi-family property. I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options

Greetings,

I am looking for a seasoned mortgage broker in Middle TN that can find me the best rates on refi's and new investment property loans. I currently own 6 investment properties and the two most recent are at 7%. I know that now might not be the best time to refinance but I am looking to establish contact with someone that can keep their finger on the pulse and let me know when the time is right for refi or BRRRR.

Thanks in advance!

Hi I am investor in Gainesville, I currently hold a multifamily 6+ units.  the property’s rehabilitation is scheduled for completion in 2025 and the rent will subsequently increase, can I proceed with a cash-out refinance based on the current rent roll? How will the existing income from the property influence the amount I can borrow?

Hi all, I'm looking for financing options.  $2.3M, 29 unit in Indianaoplis, IN.  Any suggestions for lenders?

I recently bought a duplex that I plan to convert to a fourplex. I used a hard money loan to purchase this off market deal.

I rehabbed the upper two units within two and a half weeks and have a renter already lined up for one unit. I believe after the holidays the other unit will go quickly.

What is the rule to refi into conventional loan? If I secure renters and show a lease agreement and deposit can I get into lower interest rate mortgage?

I wasn't planning on going this big for my first investment but the deal, location and potential to value add was too good to not go for it.

Thank you!

Hi,

We are looking to buying investment property ,Townhouse/Condo in Connecticut(Hartford). We looker at few houses/Condo under $200k-$250k and saw few online in that range. Is Conneticut a good market in terms ease of rental and appreciation?. We basically want property to generate some cash flow and long term appreciation. Are there any others in CT which can fulfill these requirements?

Thanks

I am looking for recommendations of lenders who offer a HELOC on a cash flowing rental property in Burien, WA. I was surprised to find that most major banks do not offer this.

Thank you in advance for your feedback.