All Forum Posts by: Jennifer Roberts

Looking for information on loan sponsorships. I have a large multifamily property whose purchasers need to show over 20M in assets. I’m looking to draw on the knowledge of anyone who has experience with finding and securing these larger MF acquisition sponsors vs smaller ones and anything else that pertains to this. Thanks in advance!

@Matthew Crivelli Thank you! Great explanation!!

@Chris Mason great point! Thanks for the reply.

@Andrew Postell great info. Thank you! And that is funny because those were the terms he used. And it didn't sound right to me either. Maxing out my DTI? Doesn't sound great.

As a newer investor I'm wondering why I would want to max out my DTI before applying for a DSCR loan? Are there any pros or cons to this? Or why would a lender recommend this? Just for reference, I have a good amount of cash to use as leverage with DSCR and qualify for much less using conventional and we may be looking to move and use a conventional loan for our next personal property within 3-5 years.

As a newer investor, I'm really trying to figure out my next best step. I recently connected with a lender to prequalify for a conventional loan. We have great credit, have about 50% equity in our home, own another two homes we paid for in cash, and have about 25% more liquid cash than what we prequalified for. Can investors and lenders alike please lend me your expertise on this? I'm so confused why I can't use the amount of cash I have on hand to leverage more. Thanks!

So I've been on the horn all morning long trying to find out information regarding an applicant. Its been a bit of a pain, but also a necessary learning experience regarding restricted dog breeds, "emotional service animals", and my landlord insurance and renters insurance. 

My insurance specifically states that the restricted dog breed is not allowed. I looked up Georgia law, it also describes the difference in detail between a real service animal and an emotional service animal and that landlords are not required legally to allow these types of breeds. 

The applicant came back and then asked if his renter's insurance covers it. I have literally been on the phone all morning with the agent, and they said my policy, regardless of renters insurance, doesn't cover it. 

In my due diligence, I'd love to get feedback from anyone else who has knowledge on this. It's a military family that is looking for a 3-year lease. This is why I'm in this area. I also don't want to say anything wrong that could get me in trouble.  

For those of you managing your own property, what supporting documents besides tax returns do you ask for when your applicant is self-employed?

Just to add, the properties are insured and are also in a trust. Just looking for additional protection if need be:)

Looking at the best way to set up managing 2 new rentals I just purchased out of state. Any information regarding llc's and setting up other legal/protective measures etc would be greatly appreciated!