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All Forum Posts by: Elliot Holmes

Elliot Holmes has started 4 posts and replied 13 times.

Post: Looking for Lender for cash out refi

Elliot HolmesPosted
  • Posts 13
  • Votes 4

Hey @Sol Naim What are your plans for when you cash out? Depending on what you plan to do and for how long, will narrow your criteria for lender. All your other information looks great for any lenders.

Thanks!

Quote from @Erik Estrada:

Hey Shawn, 

Depending on the rental income, credit, and your experience level, you might want to look at a DSCR loan. You may be able to get pricing without paying discount points as long as the rents cover the mortgage payment.

The rate will be in the high 8s, low 9s at 20% down. But if it's a multi-family, it might work. 


 Well said. There are plenty of options for lending for investment properties. Not everyone qualifies for conventional and that's when they start considering non-QM loans.

Quote from @Jordan Moorhead:

@Elliot Holmes we do a twice monthly meetup, second thursday of the month is a social hour and fourth thursday of the month is an educational topic with a speaker

@Jordan MoorheadWhere is the monthly meetup for the social hour on the second Thursday? 

Quote from @Jordan Moorhead:

We have a regular meetup in town called Austin Real Estate Investors! 


 Thank you! Is there anymore information you could give me? I looked it up on Google and found lots of things.

@Bob Stevens Is there any major differences between flipping to investors versus homeowners. Or are you just referring to wholesaling? 

Where is the best inventory or markets for fix and flips in the U.S. right now? Curious to see where else is hot. I'm in Austin, Texas and want to know from people on the home front. 

Hey y'all, does anyone know any in person groups or associations meeting in the Austin, Texas area? Thanks

Thanks @Nicholas L. and @Kerry Noble Jr, I will keep that in mind in the following weeks and see where it takes me.