All Forum Posts by: Kevin Rock

Hi @Kevin Rock

Use the Find a Lender search on BiggerPockets, then call each one and get a term sheet. If they give you a soft quote, ask for something formal on their letterhead. Then compare a handful and make your decision. Just make sure they lock your rate upon pulling your credit, if they float the rate then go elsewhere, as that opens the door for a bait and switch. You can refinance into the LLC name at closing, no need to move it prior. Lastly, it will be important to each lender as to when you bought the home. Each lender has different ownership seasoning requirements, so if you have owned it less than 3 months, your choices are limited for cash-out refinances. Feel free to connect if you need more advice and best of luck!

 Are you doing large scale renovations for the property - or did you just use Hard Money for a quick close?

Is it under an LLC? Conventional is an option but conventional have longer seasoning requirements and won't allow LLC vesting. DSCR would be a good option and it would be based on the rental income rather than personal. Make sure to check reviews and that you clear the seasoning requirement

 Hi Kevin, 

I would recommend looking at reviews, online presence, and responsivness . Don't fall for the term sheet. Look for quality lenders that actually close deals. 

All great advice but most important build your network around you. Get into networking meetups. Find a good realtor and mentor.

Reach out if any questions I love to help you get started.