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All Forum Posts by: Derek Brickley

Derek Brickley has started 5 posts and replied 460 times.

Post: In search of Lenders who can work with foreign investors

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

Hey Usha,

Not hard money, but have worked with foreign nationals in the past and really your terms vary a lot based on your situation and what sort of properties you’re looking at and where.  Would you be able to expand on the deals and market you’re looking for, just to see if what we do could even help in the first place?

Post: Are there any lenders who do first home loans with only one year of tax returns?

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

Hey Alex, 

There are some cases where one year is enough, but would need to know a bit more about your situation to see if we could possibly help.  Feel free to reach out if it might make sense to look at some of those options 

Post: Financing my 1st House Hack

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

Exactly as Matthew said!  Location is the one thing you cannot change about a property, so finding one in an area that works for you and will help meet your goals is huge.  It's good that you are looking forward so much, I'd just say take them one at a time and once you figure out the first the rest will fall in place!

Post: Looking for a Cash out Refi on an investment property

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

Hey Chrissy! Would need to know a bit more about the property and your situation, but there are options with a DSCR loan with no value seasoning.

Post: Lenders and Realtors to partner with

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

Hey Brian!  Happy to connect

Post: Can I get a 30 year fixed on an investment property in my LLC?

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

Hi Alex!

When using a DSCR loan, the property is more often than not held in an LLC! Most DSCR lenders should be able to.

Post: Short seasoning DSCR lender

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

Hi Sean!  There are some circumstances with 0 value seasoning, but definitely would need to know more about the situation to see if we could possibly help.

Post: No More Mint.com - What the Best Personal Finance Tracking Tool Now?

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

I normally use the app, but you can access it on a desktop.  I'm not sure how accessible it is from that aspect though.

Post: No More Mint.com - What the Best Personal Finance Tracking Tool Now?

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

I was incredibly saddened... if anything they should have integrated Credit Karma into Mint not the other way around.  With that said, I switched to Nerd Wallet.  Not exactly the same, but I have found it to be similar enough for my liking.

Post: How to do price match between 2 LENDERS

Derek Brickley
Posted
  • Lender
  • Ann Arbor, MI
  • Posts 477
  • Votes 184

Hi there!

Yep definitely not a good idea to have two in process for the same property.  Depending on the lenders, there is a chance that the investor on the back end could notify the lenders that there are two open files for the same property in which case you would have some explaining to do.  

For shopping price, feel free to show lenders your Loan Estimate and see if what they offer compares.  Note that you may need to submit documents to them, but do not sign another loan estimate/intent to proceed unless you plan on switching, in which case you need to notify the other lender ASAP.