All Forum Posts by: Justin Rogers

I have a few rentals in Tampa but looking for another house hack in St. Pete. Welcome!

Hi there,

I have a fantastic broker I work with on the lending side but the max he can find right now on a cash out refi is 75%. Before I start calling all of the local credit unions and banks in the Tampa area I'm wondering if anyone has found a local place that will lend up to 80% LTV?

Thank you in advance!

@Bobby Foster curious to know how this turned out as I’m looking into a similar situation now.

Last year I house hacked a triplex and got a conventional loan for 5% down because it would be my primary residence.

When applying for a new loan looking to do the same thing this year, I'm being told the highest loan to value they will lend is 75 to 80% on a 3 unit as of right now at any loan size. It seems as if most lenders are putting LTV limits on 2 to 4 unit properties to avoid lending to the Fannie Mae limits as this wasn't the case in the past. Even as a primary residence...

Is anyone else running into this issue? Anyone know of a lender that will override these overlays?

I used Josh Wisecup. He got me loans and rates that I couldn't find elsewhere. I can make an intro if you'd like.

@Mya Toohey. I would as well. I sent a connection request.

I'm fairly new as well and have been looking into a similar situation. Most cashout- ReFi options I've looked into will give 70% Loan to Value on a multifamily dwelling so that $25-28K range sounds about right.

If that new loan still cashflows and the $28K gets you into a new deal to start the BRRRR snowball, it's probably worth it. That's the best way that I know how to scale this business. I think it all depends on your long and short term goals.

Have a BRRRR property I'm looking at and a cash purchase would make this a steal. Looking for a 6 month-1 year hard money lender until I can cash out re-fi. Any recommendations?

Hi there,

A property I am looking to buy is “officially” zoned as a single family (and most properties around are SFHs). It is a primary house with a separate duplex structure built behind it. It currently has a renter certificate making it a triplex eligible property.

Here’s the issue- Apparently every year we will have to apply for the property to continue to be zoned as a triplex in order to rent them out and the council must approve. It has been a multi family for 50+ years.

Should I be weary of this purchase?

Hi there,

Looking for some insurance referrals in the Tampa, FL area. I am buying primary house (which I'll live in) with a separate duplex building in the back to make it 3 units in total.

The quotes I have received are quite higher than I'd like for even half decent coverage so wondering if anyone has a good connection for this type of investment.