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All Forum Posts by: Kyle Deutschmann

Kyle Deutschmann has started 8 posts and replied 387 times.

Post: BRRRR - Hard money vs Cash

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Kayla Simmons:

I'm trying to guage whether I'd like to go the hard money route for my first BRRRR or save up a bit more and try to pay cash. I would be able to put about $20k toward my first purchase right now. I've read some books that highly recommend paying all cash for the first one. What's your thoughts? I'm obviously still in the research phase - not ready to buy just yet.

hard money is a great option to leverage your capital for a BRRRR. Where are you looking to buy? 

Post: Question, fix and flip loan or DSCR

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Art Schneider:

I am a real estate investor and presently have long-term rentals that were purchased with DSCR loans.

Looking at buying a fixer-up that needs major rehab with a fix& flip loan and then 3 months later converting to a dscr loan 

pros and cons?

Awesome job! I'm in a similar boat with a handful of long term rentals. Buying fixer uppers will allow you to "force" some appreciation and ideally you'd have no or little of your original capital left in the deal once you refinance into a DSCR loan.  Then you can do the final R of the BRRRR strategy and "repeat"/reinvest the same original capital. 

Post: Looking for Advice & Private Lender Connections in Tampa/St. Pete

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Chinelle Nelson:

Hi currently new to the St.Pete/Tampa area. I just moved here about 2 days ago from Va Beach. 

I wanted to see if anyone has advice on structuring a fix-and-hold deal (especially around financing rehab),

And to connect with any private money lenders or individuals in the Tampa Bay / Pinellas County area who might be open to funding this kind of deal (ideally purchase + rehab).

Appreciate any tips or introductions and if you’re local and active in the area, I’d love to connect regardless!


 Hi Chinelle, I'm relatively familiar with the St Pete/Tampa area. Happy to chat and see if I can help!

Post: 1878 Farm House needing full rehab requires Hard money only -need advice!

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Amanda Eisert:

My husband and I live in Florida and are starting to research property investing and building a portfolio. Additionally, we have family in Ohio and have been looking to get a place up there to spend summers near family. We have found an old farmhouse on and acre and a half that we wanted to purchase and fix up over time while we used it to visit our aging parents then eventually (5-10+years) sell or rent it out. We have down-payment, and funding approved for a 30y conventional, but this seller is asking for CASH, ARM or Hard Money only. Since we are new to Real Estate Investing and various funding options, we aren't sure how we can make this happen. How do you do a buy and hold with hard money if the loan terms are 12 months?


If this is going to be a vacation home, you can't technically get a hard money loan. Those are 'business purpose' loans for non-owner occupied/investment properties. Does your lender do renovation loans? Some do conventional renovation loans that allow you to purchase and rehab a primary or second home. It's a great product, but you can't close as quickly as hard money or cash since they generally require a third party appraisal. 

If you decide to purchase this as an investment property, then you could buy with hard money and the idea would be to refinance out afterwards into a 30 year loan. 

Post: Buying and reno

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Abigail Huse:

Ok! So this is going to be my first fix and rental.

i found a home/lot that i am wanting to turn into a duplex.

the house is on the market for 99k. Realtor said dont offer more than 30k (house a total gut)

I have 100k cash. 

what would you do financially as far as acquiring the property and fixing it up... my cash for purchase and Reno? (If even possible with how bad it is) 

Or my cash and a loan for reno?

I just want to make the right move here! 

Sounds like a solid deal at $30k, but that's of course relative. What's the estimated rehab cost? Estimated ARV? A lender will also want to know you're experience with this type of deal, or that you're working with a solid GC who knows what they're doing.

Good luck! Happy to chat if I can help. 

Post: Direct dscr lender

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Iliana Danker:

Hello !

My closing is on May 23rd in TX, double closing , and I'm looking for recommendations for direct lender that could handle it, if you have any experience with one like that i will highly appreciate it :)

credit score 800. Dscr 1.25ish ,25% down


 Do you have an appraisal done already? Happy to try to help either way if you're still shopping around. 

Post: New Investor, DSCR Loans, Hard Money Loans, Multi-Family

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Michael Ochoa:
Quote from @Kyle Deutschmann:
Quote from @Michael Ochoa:

Hello everyone!
This is my first post here, I am super new to real estate investing and I'm excited to begin my real estate journey. Over the past few months, I've been diving deep into learning everything I can online—especially about DSCR loans and multifamily properties.

However, I feel like I've hit a bit of a wall. I know long-term rentals are the path I want to pursue, and I'm aiming to use DSCR loans to start closing deals and build wealth toward financial freedom. But now I'm unsure what the next step should be.

Should I be reaching out to a realtor? How do hard money loans fit into DSCR-based deals? Should I use a hard money loan to pay for the down payment, and go to another lender for a DSCR loan at the same time? How can I do the math to pay them both back? And is there anything else I should be focusing on or learning at this stage?

Thanks in advance—I appreciate any guidance!


Welcome! I'm sure you could find an "investor friendly" agent here on BiggerPockets. Hard money loans are great for purchasing properties fast that need to be rehabbed. A DSCR loan can then be used to refinance/pay off the hard money loan if you keep the house as a rental.

Is this your first home purchase? I'd personally start with a house hack if it was my first purchase - you can buy a house with 0-5% down in most cases and then use that money you save on housing to snowball into the next deal. 

I am understanding more about hard money loans with all these replies! Thanks a bunch! Yes, this would be my first time ever looking around for an investment property. I would love to do a FHA loan house hack, but unfortunately, I don't have 2 years of work history/income. This is why I was interested in the DSCR loan, with ways to come up with the down payment once I've figured out a good market/investment. 

If you have a full time salaried/W2 job you don't necessarily need a full two year history to do a 3-5% down conventional loan. DSCR loans will require 15-20% down typically, but a great tool if your income/personal DTI is an issue.

Post: Secured Hard Money Loan

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Kwanza P.:

Is there such a thing as a secured hard money loan ? If so, where do I apply ?


Also, can I trade equity in return for a fast loan ?


As others have mentioned, yes hard money loans are secured to the subject property generally. Happy to chat if you're still looking for hard money lenders. Yes you can definitely trade equity in return for a fast bridge loan, or standard 30 year DSCR cash out loan.

Post: Seller Finance or Traditional?

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Shelley Rubino:

Are there tools available to help make the decision whether to purchase a home via seller finance versus a second home with a traditional mortgage? I'm intending to buy a home for my daughter in college and I'm trying to figure how best to compare the two options. My motivation for doing a seller finance deal is because I already have several mortgages attached to my name for other investments. Seller advertised willingness to do seller finance. I could pay cash but prefer to have available cash on hand. Stupid question, but will I still get a 1099 for interest? Thank you!


I would certainly consider a seller financed deal if it was more attractive than what a conventional or DSCR lender can offer. That being said, it's rare a seller will want to hold the note for a full 30 years, so it's good to be prepared with a solid exit strategy to refi or sell the property whenever they want their money back.

Happy to chat and see if I can help you find anything better, depending on what the seller is offering! 

Post: Refinance step of BRRRR

Kyle Deutschmann
Posted
  • Lender
  • Baltimore, MD
  • Posts 417
  • Votes 205
Quote from @Troy Smith:

I have my rehab complete and my renter moved in to my first BRRRR. I'm excited to start the cash out refinance so I can get moving on my next property. Looking for some advice. Should I go through my current mortgage lender for the refinance or shop around? Also is there anything I can do to try to help with the appraisal process so it appraised for what I'm thinking it should?


Congrats on your successful BRRR! We specialize in BRRRR financing. Happy to throw our hat in the ring if you're still shopping lenders for the refi.