All Forum Posts by: George Duchatelier

 I can send you some lender referrals Ohio.

 It still is a 30 year loan that fully ammortizes. Is your goal to pay down the mortgage?

 Yes these loans carry Prepays. Typically a 5,4,3,2,1 step down prepayment penalty. Meaning if you paid off the loan the first year, it would be 5% of the loan amount, second year 4% of the loan amount, and so on. 

 Hey George, 

I see that you are concerned about having your personal name on title. DSCR Loans are perfect for closing title under an LLC. Unfortunately, you will still have to use yourself, another member, or both to personally guarantee the loan.

Also be aware that many DSCR products have 3-5 year prepayment penalties. There are a few were you can buy down the prepay to 1 year, to save yourself from getting locked into a high interest rate loan for 3-5 years.

What do you mean by pre payment penalties? There’s an issue if I pay off the loan early?

For me, it's all about conserving my time so I can scale. I therefore focus on turnkey properties. My favorite turnkey provider is REI Nation. A win for me in the past was a property that is 100% financed, cap rate 2 points above its 30-year fixed rate, rest of the capital from investors enjoying 8% savings accounts, and therefore cashflows after paying for itself including management.

Moving forward, a win will be a 6% cap rate from REI Nation, 100% financed with savings accounts. I'll start buying these when the Fed stops raising the rates then hold them until they can be refinanced at reasonable 30-year fixed rates.