All Forum Posts by: George Taylor

@Lee Schram I'm currently processing a borrower on a HML with a purchase price is $8k and rehab costs are at $60k with an ARV of $120k. We are working with her because the ratio of the acquisition price compared to the rehab shouldn't be a factor if the numbers support it and won't be with our vast network.

@Shawn Ackerman I just sent you an email.

@Shawn Ackerman 

A. Either in your own name or through HML's through an entity, whichever you choose and fits best with your strategy.

B. Yes, a blanket loan would be performed on all at one time. We are working with a borrower that ha a 72 property portfolio that we're structuring a blanket conforming for more than likely at 75% LTV.

@Frankie Lotrec Another option is to go through a broker and have them do all the work for you so you don't waste a lot of time contacting direct lenders. Since PNC is in VA then you should talk with them first. If you want a second opinion after they give you terms then don't hesitate to reach out. Thanks..

@Cordell Reynolds A far as a HML goes, you would need to bring 20-25% down but that closes normally in under 20 days so that would be the quickest way to do it on your own. That term would be between 12-24 months so that would give you plenty of time to roll into a conforming loan if you plan on keeping and renting it or to fix it and sell it. If you don't have any funds to put down then you should team up and do a JV with someone but it may be pretty hard to do that with this being your first deal.

@Roxana Ruiz I am going through this exact scenario for a client in Atlanta and it does present some bumps but ultimately won't be a problem I wouldn't think.

Hi @Jason Greenway Are you only looking for private money or wold you consider a HML that can do a blanket on 2+ at one time and then turn that into conforming in 12 months?

Hi @Isaac S. There are a LOT of lenders out there that aren't investor friendly. Plus keep in mind that most investors use their LLC to purchase investment properties therefor making them commercial loans and not residential due to timing, taxes, liability, etc. If you find a good broker then they will be connected to many different types of lenders with different criteria so you'd have a better chance of accomplishing your goal through one person or company.

@Thadeus Frederick That's normally how this industry works for those looking to buy and hold. Using a HML to acquire and rehab if needed. Then after 6-12 months of seasoning on the property cash out refinance it to get money for your next project and turn it into a conforming loan with a much friendlier term.

Hi @Anthony Herbert Feel free to give me a shout about what you have going on at your convenience. Thanks..