All Forum Posts by: Jack Tulloch

Katie - I suggest contacting a few lenders/brokers and finding someone who allows you to refi it while vacant. 

Nice looking deal James!

Nice Heath!

John,

See if there is another way they can structure the deal so you hit their minimum DSCR requirement. You could put more money down (if this is feasible for you) or maybe go with an I/O (interest only) option to reduce payments and therefore increase the DSCR.

If restructuring with current lender is not an option, find out what their minimum DSCR requirement is and if it is 1.25x or something similar you can find another lender with a lower minimum. You would of course need an extension on the contract.

Nice Ann! Solid return for only 10k cash invested

Wow, nice Andrea! Sounds like it went relatively smooth for a first investment. 

Kaveh - I agree with the others above. Generally speaking, terms will be in the same ball park but certain lenders will be better suited for certain scenarios. I think process/communication is what separate's the good from the great lenders. Online reviews can be a good place to start to get a general feel for a lenders reputation and consistency. 

Establishing a relationship with a lender/broker you can trust is the key. 

Nice Tucker! Older homes can be tricky so glad it worked out

Nice deal Jake! Thanks for sharing.

Nice Christopher!