All Forum Posts by: Mark Munson

Hi @Khurram Humayun

    Welcome to BP! I own a mortgage company in Central FL and work on the wholesale side too. I'm happy to give you some feedback on both fronts, just feel free to reach out. Best of luck!

Hey @Jai Bridges

Welcome to BP! Happy to connect and see how I can help on the wholesale or financing side, as those are my areas of expertise. Feel free to message me and best of luck!

Hey @Ishmail Ahmad

     Welcome to BP and thank you for your service! I'm in the lending space, but I work with a lot of nationwide wholesalers and have wholesaled myself. I'm happy to give you some feedback as you get started. One piece of advice I'd give you in the current market is start with "Reverse Wholesaling". Find the buyers and what they are wanting then hunt down the property. Best of luck and feel free to message me!

Welcome @Stephen Bopst

     Best of luck on getting started, you've joined the right community. I would start attending your local REIAs, as that is a good way to network. I can connect you to a few local wholesalers too, if you are needing some off-market opportunities. I've originated a lot of investment loans there, so happy to give you any feedback on that front as well. Feel free to message me and best of luck!

Yes, you can, but you will likely need a US bank account. There are other guidelines respective to each lender, but the bank account tends to be universal. 

Welcome @Jack Dahill

    I'm happy to connect you to a few financing options in the area, it'll really depend on whether you are looking at 2-4 unit properties or MF 5+ units, as they are different (residential vs commercial). Feel free to message me and best of luck!

SFR were never meant to be investments, that has drastically changed recently with Wall-Street money flooding the space and offering DSCR loans. That is a more recent change than people realize. Residential is any units 1-4 and commercial is any 5+ units. Furthermore, they are valued differently by capital markets, as 1-4 units are valued based upon a sales approach and 5+ units are valued by the income approach. We are seeing that line of distinction change in today's market, and unfortunately, that will lead to home ownership being a thing of the past for the masses and most metros moving to a rent-centric model.

Hi @Bruce Freeman

       Congrats on taking the first step and looking to network on BP, I'd attend your local REIAs too if you can. I'd be happy to help give guidance where I can, feel free to reach out. Best of luck on your real estate investing journey! 

Hi @Joshua Hindberg

You can refinance into a DSCR loan, the max loan amount will just depend on the projected rent versus the mortgage payment. You can try and find a private lender, but it is likely their term length will be shorter than maybe what you need, whereas a DSCR loan will be for 30-40 years. If you intend to occupy the home, then you won't qualify for any DSCR options as those are non-owner occupied loans. Happy to connect further to give you any guidance I can, feel free to message me. Best of luck!

Hi @Aimee Piacentino,

As mentioned above, I'd take 5-10% off of the ARV to adjust for market conditions of the time when you sell the property, some HM Lenders are doing that during underwriting. Be careful adding in your own contingency if using a HML, as they add their own and that can increase the rehab budget too much which could in turn increase your down payment on the purchase price. I'd be happy to give some guidance and recommendations, feel free to message me and good luck!