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All Forum Posts by: Kevin Post

Kevin Post has started 2 posts and replied 16 times.

You would have to refinance into not just a DSCR loan, but a DSCR loan that doesn't report to credit. Some DSCR lenders do still report to personal credit, regardless of an LLC. Most likely, this would come at a higher interest rate then your current FHA rate. Secondly, if you put less then 20% down when buying the homes, you might not have the equity to refinance into a DSCR loan. Reach out if you have anymore questions.

Post: Short Term Rental DSCR Loan

Kevin PostPosted
  • Lender
  • Dallas, Tx
  • Posts 20
  • Votes 17

If you are a real estate investor with AirBnB or Short Term Rentals we have a great products for Cash-Out & Purchase. Qualify off of 100% of the market rents for a purchase & 125% of the market rents for cash-out refinance. (No hits for vacant properties)

• Max loan amounts up to $2,000,000
• FICO down to 660
• Up to an 80% LTV on Purchase, Rate/Term
Refinances, and Cash-Out up to 70%
SFR, PUD, Townhomes, 2-4 units, Condos,
Non-Warrantable Condos, and Rural
• 30-Year Fixed & 40-Year Fixed Rate with a 10-Year interest
only option

Minimum DSCR of 1 required to qualify

Call or email anytime

Post: Contractor in Dallas, Texas

Kevin PostPosted
  • Lender
  • Dallas, Tx
  • Posts 20
  • Votes 17

Try Sheldon Mosby,

He does a ton of fix and flip rehab projects for investors in the Dallas area. 817 412-3154

Tell him I referred you.

Hey Ryan,

The easiest thing to do would be to refinance, get the 75K to pay her off (unless you are doing all cash) and get her off the mortgage and title. Title would be held in the name of then entity which you'd own 100% of.

Post: Heloc Help or creative ways to get equity

Kevin PostPosted
  • Lender
  • Dallas, Tx
  • Posts 20
  • Votes 17

Syman,

How many units? 80% may be tough but 70% is doable. A cashout refi and taking out the first might secure a higher LTV.

Post: Options to remove mortgage from personal DTI

Kevin PostPosted
  • Lender
  • Dallas, Tx
  • Posts 20
  • Votes 17
Quote from @Brandon Warren:

My wife and I bought a new home (primary residence) about 6 months ago with the intention of turning it into a STVR. We are living in it for the first year as required with the conventional loan but I'm not sure how we make the move out of this house with the debt still in our name. Is there a way we can transfer or sell the house to our LLC so the mortgage payment falls off our DTI and we can buy a new primary residence?


Brandon, you don't need to transfer it or refinance it. I would advise against that if you have a good rate on it. Refinancing to DSCR will only increase your rate not to mention several DSCR lenders still report to credit. Secondly, you don't need to wait to do your next set of tax returns, if you buy a new house(lets say structured as a primary) the lender will give you 75% of the market rents when qualifying for a new loan and treat it as a departing residence. I deal with these exact situations with real estate investors all the time. Reach out if you have further questions.

Home Prices Fall

Interesting article about what may soon be a major crash in over inflated real estate markets across the US. 

As a real estate investor, are you nervous about your existing portfolio or are you excited about the potential of one of the best times to buy real estate since 2008? Furthermore, if rates continue to increase, are you willing to pick up property and possibly pay 9% or higher rates on NON-QM loans?

I have been working with real estate investors nationwide of the past 5yrs, I have heard many different theories & strategies for this potential housing crash. How are you preparing? 

Post: ISO: DSCR lenders in FL and GA

Kevin PostPosted
  • Lender
  • Dallas, Tx
  • Posts 20
  • Votes 17

Hey Kailey,

I have several banks I work with that offer a ton of DSCR products in both states. Let me know if I can answer any questions

I work with several lenders that will do long term loans to LLCs in the area. Feel free to give me a call if you need some recommendations 

Post: Refinance Appraisal Question

Kevin PostPosted
  • Lender
  • Dallas, Tx
  • Posts 20
  • Votes 17
Quote from @Joshua Zdunich:

Thanks for the suggestions!

I ended up calling the appraiser and telling him what I did and that I planned on drywalling it back up before he came by.  The guy was beyond cool, had me send him pictures and then told me there wouldn't be a deduction in value based off what he sees!!!  Super happy because I hate drywalling and I absolutely hate spending time/ money on mistake :)

Thanks again everyone! 


 Joshua, this may not help you at all. Doesn't matter what value he puts. If the lender sees a photo of the open wall, even if the appraisal is marked as an "AS IS" value, they can still come back and say they will not lend on the property until this is repaired. Keep that in mind. Sometimes they do not catch it tho.