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All Forum Posts by: Jacob Sherman

Jacob Sherman has started 7 posts and replied 1295 times.

Post: Looking for a Dscr Loan

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304

What state is the property in ? How many years prepay are you looking for ? 

Post: Lenders who allow wraps?

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304

What is wrap ? 

Post: What type of challenges are you facing obtaining financing ? I'm here to assist

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304
Quote from @Andrew Zamboroski:
Quote from @Javed Hussain:

My current challenge is dscr/blankets for low value properties sub 75k. My portfolio is all 40 units well north of 100k but I've never done the lower end properties as I am now getting into the cleveland section 8 game from out of state.


 Only a couple of options out there in this range. We can help on 500k+ loan amounts and 50k+ values in a portfolio if you end up with something that works.


 agreed 

Post: What type of challenges are you facing obtaining financing ? I'm here to assist

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304
Quote from @Javed Hussain:

My current challenge is dscr/blankets for low value properties sub 75k. My portfolio is all 40 units well north of 100k but I've never done the lower end properties as I am now getting into the cleveland section 8 game from out of state.

For 100k or above on each property can get a blanket done with mimumum 3 properties in it. There are a few lenders out there offering down to 50k loan amount . 

Post: What type of challenges are you facing obtaining financing ? I'm here to assist

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304
Quote from @Rochelle Gerber:
Quote from @Jacob Sherman:

How much would you be putting into construction on this one ? 


 see below but 75,000-90,000. husband is a builder w/25 years of experience. we can self fund the construction. i just don't want to put 20% down to acquire the property. ideally 10% down so we can do the construction. will dscr in 12 months when done. 


Most bridge lenders will be at least 25-30% if its just a bridge without construction . With construction depending on experience can get upto 90% of the purchase and 100% of construction upto 65% ARV

Post: What type of challenges are you facing obtaining financing ? I'm here to assist

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304

How much would you be putting into construction on this one ? 

Post: What type of challenges are you facing obtaining financing ? I'm here to assist

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304

What are your scenarios looking like on bridge, fix and flip, ground up construction and DSCR ? What type of challenges are you facing obtaining financing ? I'm here to assist at anytime with any questions . 

Post: Open to questions in regards to bridge, fix and flip, ground up construction and DSCR

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304

Lets discuss some bridge, fix and flip, ground up construction and DSCR loan scenarios for both purchase and refinance options . Welcoming first time investors, foreign nationals and ITIN borrowers .

Post: What rates are you guys on DSCR loans

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304

you can get down into the 6's these days 

Post: HML for Sheriff's Sale

Jacob Sherman
Posted
  • 12 Penns Trail Suite 138 Newtown, PA 18940
  • Posts 1,362
  • Votes 304

issue with buying from sheriff sale when looking to use a lender is that the lender will require an appraisal .