All Forum Posts by: Kathie Russell

Quote from @Robin Simon:

Quote from @Erik Estrada:

You can finance them with a DSCR loan, but will need to submit it with an exception. There needs to be compensating factors such as STR experience, credit, reserves, and LTV. The property can't be some cabin or log home either..

I have not found any Hard Money lenders that will lend on these properties though. 

Not accurate - we do Rural DSCR Loans for Short Term Rentals as part of our normal programs - not an exception - just maxed at 70% for Acquisitions/Rate Term and 65% on cash-Outs

Hi Eric, is this a newer program?  I use Easy Street for all of my fix and flips, but one time i had a rural one and they couldn't make the loan.  This was a few years back though, so I am wondering if things changed?  Thanks!

Hi all, I own several properties in Nicaragua that I rent out on airbnb.  They are profitable, modestly so, and the real opportunity here is long term.  My town is quickly becoming a tourist destination and some people who prefer that it remain a quaint, sleepy little beach and surf town, are selling to move to more remote locations.  That presents a great opportunity, however it is hard to scale when buying everything with cash.  I have bought my properties with cash thus far, but i am looking for any information on any kind of loans that might be available for international real estate investing.  i am considering syndication as well, but in the meantime i would like to find any lenders that might be operating in this realm.  Thanks!

Easy Street Lending is wonderful - I use them for all my fix and flips.  No appraisal required and very fast funding, competitive interest rates (they get better with your experience as a rehabber and number of loans with the company.  Amanda Hart is wonderful.  This is a link to a prequal with them  so you can check them out - https://www.easystreetcap.com/hard-money-loan-app/?utm_campa...

Bryan Maddex can do these - 704-246-3833

I own several properties in Nicaragua.  Happy to connect!

I own several properties in Nicaragua.  I mostly look at it as a long term play, but that somewhat depends upon the location in Nicaragua.  I would be happy to connect.  I rent my properties as short term rentals.

I can attest to this!  I use Amanda Hart at Easy Street for all my fix n flip loans and she is amazing and Easy Street is truly very easy to deal with!

Good idea to start with your primary residence.  If your credit is good, you should have no problem qualifying.  Contact a few mortgage brokers, check rates and see who you think you can work well with.  Have them pre approve you.  This will help your offer get accepted more quickly when you make it.  When you start buying investment properties, you may use different lenders.  You should set up an LLC and possibly use a DSCR lender who will not report to your personal credit and won't have any limit on the amount of mortgages you can get.  Good luck, happy to talk any time!

Definitely come to NCREIA!  Also, if you do please look for me ( i will be there), i am an experienced rehabber and also own LTR and STR and happy to team up - my weak spot is finding properties (I prefer to use wholesalers) so sounds like a match made in heaven lol

I second the recommendation to join your local REIA, which is NCREIA.  You will find education, support, mentors, jv partners, lenders, but most of all a community that will support you and help you learn the ropes.  It is invaluable.