All Forum Posts by: Flavio Zanetti

This thread has been going on for a few months, if you guys had any luck with these local bank?

A quick Google search for Debt Coverage Ratio: http://www.investopedia.com/terms/d/dscr.asp

Debt-Service Coverage Ratio (DSCR) is a measure of the cash flow available to pay current debt obligations. The ratio states net operating income as a multiple of debt obligations due within one year, including interest, principal, sinking-fund and lease payments.

In government finance, it is the amount of export earnings needed to meet annual interest and principal payments on a country's external debts.

In personal finance, it is a ratio used by bank loan officers to determine income property loans.

A DSCR greater than 1 means the entity – whether a person, company or government – has sufficient income to pay its current debt obligations. A DSCR less than 1 means it does not.

In general, it is calculated by:

DSCR = Net Operating Income / Total Debt Service

Folks,

I am looking for a local Boston bank that might be willing to do 20% on a 3-family investment deal - any recommendations? Any feedback from banks/lenders you personally used?

I did try to search for it and all I found was talk to your local banks - let me know if you have local banks to recommend.

TIA,

Flavio Zanetti

@Daniel Morgan, wondering if you took the plunge and invested in Springfield... 

I am now exploring the west as well.

Thanks,

Flavio

David, I am sure the seller has all the rights to refuse an offer based on any contingencies... 

Now to remove contingencies may or may not be your strategy - I believe it varies on the property. 

Here is an interesting discussion I remember reading about Hubzu bidding: 

https://www.biggerpockets.com/forums/311/topics/15...

Best of luck!

Flavio

Great thread guys... My partner - we own a couple of multi's in the Boston area - bought a few duplexes in Saint Edwards area. His sister will PM those for him. After our conversation my interest sparkled from an out-of-state but looking at available properties things don't look so enticing or welcoming... Flavio

Usually midwest or Florida... Very seldom one can find find properties on non-distressed areas - at least from my experience.

I have been very happy with AMICA and their umbrella policy - max 5 doors though.

I am saving ~30% from Liberty Mutual and Northwest Mutual.

BRAMPONE at AMICA dot COM has been super helpful to me - send her an e-mail for a quote.

Good luck.

Flavio

Interesting discussion for sure... 

@Tim VandenToorn, I have gotten a couple of questions for you:

* Are your investors from MI or out-of-state?

* How about a reputable management company?

* Are opportunities in Grand Rapids better than other parts of MI, e.g. Lansing, Ann Arbor, etc?

Become good friends with a reputable and commercial savvy realtor in your area so that he can help you with some potential pocket deals. 

This is the only way I am familiar with...

Those are not that easy to come by for sure!