All Forum Posts by: Devin Peterson

Hello

Seeking Cash-Out Refi for  6BR 4BA Vacation home in Hawaii.  Est Value $750k

Just signed it up to be managed with Vacasa with gross projected returns of $107k year.

Can use my 2021 Taxes, but don't have 2022 yet.

Self-employed landlord.  

I am thinking a low or no-doc HELOC interest only would be preferable.

Any suggestions?

Hi ya'll, looking for a lender for cash out equity loan on 2 unit Multifamily in Norwich, CT. Property is valued around $170,000, owned outright by LLC. Looking forward to hearing from you.

Im currently working on a condo conversion project in Louisiana. 2 units into one. Im using a hard money loan and expect construction to be finished around April and closing to be 2/28. I then plan on having it be a short term rental.

Now, ive been hearing from many DSCR STR lenders that itll take a 6 month seasoning period to get 75% ARV. Was wondering if anyone had connections with lenders who could do it 3 months after closing at 75% ARV with a solid rate. I know rates with DSCR are 7-9% currently.

Id ideally like a cashout refi and am open to long term fixed and also interest only options

I appreciate any and all referrals

Has anyone found cheap investment property HELOC lender in 2023?

Looking refinance  Cash-out on 3 or 4 single family houses in Tampa area. All of them long term hold rental properties. Please share good mortgage broker or lender in area. greatly appreciate input. Thank you 

I'm currently in discussion with two lenders to secure a conventional mortgage for a SFH rental property. I have experience with PennyMac, and they are currently offering the better loan estimate. However, Rocket Mortgage is committed to offering the best deal. I've searched the Bigger Pocket forum for feedback on Rocket Mortgage, and I've seen a wide range of reviews, and mostly from at least a year ago. Any guidance would be appreciated.

FYI - Rocket Mortgage is offering the ability to refinance at low/no-cost in the future, which is quite tempting.
  

What's the minimum loan amount you can get for a DSCR Loan?

Hey Everyone!! 

The group I work with (FIG) has been doing build for rent fourplex, triplex and duplexes for the past 10+ years in UT, AZ, ID and TX. 

We have just started talking about expanding into Florida. For those that know the Florida multifamily and rental market what cities should we be looking at going into in Florida and why? I would love to hear your feedback!! Thank you!! 

Hey everyone, 

This is a very general post, but I am a small (2-4 unit) Multifamily Investor as well as a Realtor with Keller Williams Legacy Partners in central CT. If any new or aspiring investors ever want to connect or have any questions please feel free to reach out to me. Always looking to connect with other real estate professionals as well including lenders, attorneys, contractors etc.  

Appreciate everyones time!

-Ben Lemieux

From my research, owning a condo as a primary is more restrictive than owning a SFH because lenders view condos are higher risk. Is that true? So if one wants to buy investment properties, is it harder to get approved for home equity loans if you own a condo vs. SFH?

What about townhouse?