All Forum Posts by: Dylan M. Davis

If you're seeking funding, do a healthy bit of due diligence about the company. If you can't get someone on the phone they're a scam. If they don't have a good presence online, they're not a worthwhile contact. Using a bridge loan and then refinancing into a DSCR fixed mortgage is the best way to get into a distressed deal that need value-add and stabilization.

Hey there, DSCR could make sense if there is no value-add component needed to command market value. If there needs to be some updating a renovation multifamily loan is possible with good credit, liquidity and perhaps some experience might be needed.

A bridge loan based on the ARV should work! Just want to know how far along they are in the renovation and what exactly the liquidity picture here is...

We have an expanded product that can use the new appraised value with in 3-6 months of purchasing.. rate is a bit higher though! 

 I'm a real lender and I post on FB! I always try to be the one seed of legitimacy among a sea of BS... It's easy to stand out when you know what you're talking about! But I generally agree with this post. What is the prime rate today? 7.75%? To make any money these days that would mean floating a couple points above that.. Junk fees should be title, legal, origination, and yes borrowers need to pay for the appraisal..  

I'd say that a lender that also owns and operates property would be a good bet. Because you know you're working with folks that do what you do on a large scale! the balance sheet is much healthier than those burning through raised capital...

You should see if they can actually get on the phone and speak with you! That is sometimes the only way to really tell. If you can't get on the phone with them, they don't have a readily available internet presence etc.. these are red flags.. 

It's good to have options! borrowers need to have different opinions... Every legit lender is going to offer similar things, the important thing to consider is the structure of the company! A family-owned direct private lender is a good way to go..

Some lenders have expanded products for cash-out seasoning between 3 and 6 months at new appraised value. My question would be what the existing debt-owed on the properties is and can they each stand on their own with fixed financing because portfolio is not an option... 

Doesn't seem very legit. leverages and rates make no sense given current liquidity market conditions.