All Forum Posts by: Jim Koulos
Jim Koulos has started 2 posts and replied 4 times.
Post: Payoff loan balance, refinance or do nothing?
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There are a couple of key questions to ask that can make a difference in reaching your goals on this property. Is your goal leverage to buy more investment properties or maximize cash flow by paying off all mortgage debt? This is the paradox of almost every investor based upon where they are in their "investor life". Tell me your goal and I will tell you your options. I will assume that based upon the age of the loan, the MI has fallen off the current FHA loan? That brings me to; How much do you owe and what is the value? How many other properties do you own and how many are financed? Based upon the goal you have, you ave options. Refi to a new loan that either matches the cash flow or pays if off more quickly. Maybe take cash out and pay off other debts? Use what I call, the "I'll decide what I pay mortgage." You refi to a 30 year but pay it off like its a shorter am period. You do this because, just in case the tenant moves out or if you have a cash flow crunch in your life, you can always "just pay" the lower 30 year AM payment. You pay a little higher rate for a 30 year but you gain control of the situation for that cost. Email me for actual options pertaining to your exact situation. Jim Koulos
Post: Bank Lender - Portfolio loan programs that are Investor Friendly
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I am a seasoned lender with an FDIC Insured Bank. We have portfolio loan programs for investors who either fix & flip or fix & rent. Let's discuss the parameters of our programs. Rates start as low as 6.0% with a 6.12% APR. Lending up to 75% of purchase price with a choice of 1/1 ARM, 3/1 ARM or 5/1 ARM. 30 year AM. All loans require 2 points and escrows for taxes and insurance. Jim Koulos 815-436-0500 email [email protected]
I have financing available for condotels. As you can imagine, the guideline requirements are somewhat strict. Connect with me and I can give you my contact details. My office is located in Naperville IL at Rt 59 and I-88.
I am a Real Estate Lender for Oak Leaf Community Mortgage. We are a Bank and we make PORTFOLIO loans that are "outside the box" of conventional loans. I can help you maximize your investment property returns on 1-4 family homes. Tell me your INVESTOR story & we will work to help you with the financing. Call me at 815-436-0500 to discuss our programs, rates and terms. JIM KOULOS NMLS #237689 Equal Housing Lender, FDIC Insured [email protected] 815-436-0500