All Forum Posts by: Justin Holley

Are most savvy BRRRR investors blending the fees/points into the refi or are they doing their calculations and basing their offer price off of paying the fees/points out of pocket and recouping it on the refi? The numbers can look quite different based on this decision. Thank you

I am looking to network with wholesalers from Columbus, Bloomington, and Bedford.  I open to other areas as well, but Columbus and Bloomington are my primary areas.  Please let me know if you know of anyone in this market or PM if you are a wholesaler. 

Thank you,

Justin 

Are most savvy BRRRR investors blending the fees/points into the refi or are they doing their calculations and basing their offer price off of paying the fees/points out of pocket and recouping it on the refi? The numbers can look quite different based on this decision. Thank you

@Mike Dorneman Are these MLS finds or off market motivated sellers? Love your story! Thanks!

My apologies above message was to @Ryan Frey 

Hi Dave, anyway I can conference in from Whitefish??

Thank you all for your help.  

Thank you, everyone, for responding. Still speaking with banks today.  Now I can get 20% down, but the term is 25 years. @Matt Nolan do you mine sharing the bank you worked with? @Lincoln James   I have spoken with 7 banks and 2 credit unions.  @Tyler Weaver I'm am guessing DSCR means Debt Service to Credit Ratio, if so mine is very low. @Alex Bekeza Thank you for your insight! What language are people using when they purchase a single family for investment?  Is the BP community purchasing these as second homes and not using the word investment?  Investment property seems to be the hot word that is getting the lenders worried.

@Dennis M. Hi Dennis, I want a residential loan I'm trying to avoid a commercial loan. But the banks kept saying that it was required that I put down 25% on a 3 unit, so I was trying to figure out why.

@Chris Mason Thanks I really appreciate your input.  What's strange is that the podcasts I am referring to are quite recent.  Not saying your wrong, its just a bit confusing.  I just spoke with a buddy of mine at BofA and he stated that he thinks they can do it.