All Forum Posts by: Jesse Goldstein

Yes, all of these loans require a personal guarentee since the LLC is a newly formed entity and the income hasn't fully revved up yet. Thanks

Wayne, both scenarios were non-QM (non-Freedie/Fannie) DSCR-type loans which are fine in an LLC. Thanks

Hello all.

I am working on refinancing out of a BRRR-STR property I purchased in an LLC since we have multiple owners. Our mortgage broker just quoted us a 6.75% rate on a 30-yr fixed 75% LTV loan. He initially quoted me 5.5% (same terms) for a long term rental but said we were not eligible given our STR goals. QUESTION: is there a way to enter into a long term lease with a separate entity (or one of the partners in our LLC) to meet this lender's criteria who can then use the property as an STR?

I generally hate to complicate things, but the interest rate difference is significant, and a long term lease might also help support our appraisal value. I have an email out to my real-estate attorney but wanted to hear what you all had to say as well.

Lawrence, Did you ever find an agent you like in Youngstown? We are just starting to look here as well and would love to get a recommendation. I realize your post is old, but i thought i'd ask.

@Josh Taylor

Hey Josh,

I’m looking for someone to do some small to medium sized jobs in town. pM me your interest and availability. I’d be happy to chat...anything for Kiwi!

@Chris Policicchio would love to get Wards info as well. Can you PM me as well?

@Alex Deacon

I’d love to be added to your meetup list as well

@Shayne Williams

Shayne,

I’d love to be on your investor list! Send me a message separately!

Awesome! Perhaps we can have a quick brainstorming session over the weekend, although you seem to have a vision for this already (which is great)!

Hey Grace,

I'd be interested in this!