All Forum Posts by: Kayla Oliver-Pratt

Wow...That's impressive!! Congrats to you and your wife!

I'm also a Vet and want to utilize my VA benefits to start building a portfolio. I do need to be more aggressive and get going with it though...as my hubby and I just purchase our first rental only a few Months ago with hard money.

Our goal is to retire within the next 5 years with at least 50 cash flowing properties.

How did you find financing and do you have any recommendations?

Thanks!

@Stephanie P. Yes, we are currently in the rehab process and should be completed by mid July. The exit strategy was always to refinance because we are holding the property long term. I got rate offer from 5-9 percent so far.

@Chris Mason Thank You for your input...I didn't think of that, but my partner wants to get rid of this loan ASAP...we're making our first payment on July 1!! If the closing cost is less than $4,410 or (which is our total  6mo. interest payments) then it makes sense to refi now with the rate/term.

Can you share more about the Rate and Term refinance? What are the qualifying requirements with your bank?

@Michele B. I know...it's pretty expensive and I cringe every time...but I got the property in a hot market at the last minute! Reason why we want to refi immediately! By all means, Please send me contact info on lower rates!!

Thanks,

The financing part is all new to me...so you sound like a real pro!! Do you have any recommendations that I can get more info and perhaps a quote?

Thanks,

Thank You for your response @Harjeet Bhatti. We were hoping to pull some of the equity out and buy another property. But I was assuming that it could not be done regardless of cash out or not.

Thanks @Jason D.. If you get another one of those emails please remember me and pass it on. 

We brought our first buy and hold property a month ago with hard money @ 14% & 4 points for 12 mos. We would like to refinance out of this loan and into a long term better rate ASAP; however, one mortgage lender told me that they require at least 6 months seasoning before they can refinance. Has anyone experienced this before and is it possible to get long term financing without a seasoning period?

We brought our first buy and hold property a month ago with hard money @ 14% & 4 points for 12 mos. We would like to refinance out of this loan and into a long term better rate ASAP; however, one mortgage lender told me that they require at least 6 months seasoning before they can refinance. Has anyone experienced this before and is it possible to get long term financing without a seasoning period?