All Forum Posts by: Mark Delosreyes

@Tim Johnson - thanks Tim. We will probably start shifting our business to one of our other banks...in moderation😉

@Shaun Weekes - thanks Shaun. We have 2 other bank relationships, and have our mortgages spread out between the 3. Some are even owner financed at better terms than the banks. Each bank knows the other’s terms, open balances monthly payments; however, our primary bank is the only one telling us to tighten the reigns. My full time job is a financial controller, so I track all of the bank ratios (all well in line). Maybe it would be best to just move more of our business to one f our other banks. Thanks for the help man.

We are fairly new real estate investors. We have acquired 25+ units in a little over a year, mainly using the BRRRR method, and all of our places are cash flowing generously. As an accountant, I'm pretty conservative and accurate with my figures. Now, our main lending institution is telling us to slow down and let our properties season, since we only have 1 1/2 years of tax returns on the books. I see their perspective, but slightly disagree. Has anyone run into this issue? I want to maintain the good bank relationship, but don't intend to slow down. Any advice would be appreciated. Thanks!

Hey Chris, thanks for the info...that’s really helpful. We will look to refinance as soon as we are able.

I plan on moving back into a rental property and would like to refinance to get some favorable terms. When would a bank consider this home as my primary residence? Also, what documents would be needed to show proof of primary residency? - utility bill, driver’s license, etc. Thanks for any tips.

Thanks for the feedback. We found a lender that can handle the 75% LTV of appraised value, without the seasoning period. Yes, using the income approach, we should easily hit our valuation target. Thanks again, and wish us luck.

I am getting ready to purchase a commercial property that has apartments upstairs and businesses downstairs - already fully occupied. We are buying off market, and feel like we are getting a good deal. We are buying this property with our LOC, so a "cash" purchase. However, we want to refinance right away, pay off the LOC + repairs, and take some cash out to purchase more properties (BRRRR method). Most banks are telling me they will only lend 75% of the purchase price + repairs. I'm pretty confident this property will appraise for more than doubled our purchase price. I've talked to most of the local banks, and they are giving me the same answer - 75-80% of purchase price + rehab. Is there no way around the "seasoning period"? Also, are there any lenders out there that would lend me 75% LTV on the appraised value, with decent terms? Thanks!