All Forum Posts by: Mark Munson

Hey Tanner, I'm an investor and lender in CLT, and a vendor of the local NCREIA chapter. Happy to connect!

You can join the NCREIA, they host a chapter in Charlotte. I actually think this month will be geared towards teaching your kids to invest, so probably a good meeting to attend at your age. My firm is a vendor, so I can attest to the quality of the REIA. Happy to connect if you attend!

If you are in NC, I'd encourage you to join the NCREIA. If you are a member, they teach training on running the numbers. As someone indicated above, running the numbers on a residential duplex are different than an 18 unit commercial property. I'd be happy to help with how to comp and we are very active in Charlotte and Raleigh so we know the markets. 

Hi Cherry, I'd be happy to walk you through a few options, as I'm in Central Florida as well. You can qualify for 10% down, but you'd have to be buying the property at a discount. As long as 90% of the purchase price is under 80% of the As-Is value, 10% is available to those with decent credit. 

Jose, I'm in Orlando as well, I'd be happy to run through any options with you. If you do go the DSCR route, just make sure you know whether or not your condo is warrantable or non-warrantable, as that plays a factor in the rate and eligibility of the asset for DSCR financing. Many DSCR lenders won't lend upon a non-warrantable condo, or the rate is increased by .500% at the least.

Wagner, I am local to Orlando and we work with a number of investors that buy in the Kissimmee/Disney area. I'm happy to give you any feedback that you need, as this is our wheelhouse. 

Chad, there are options to get 10% on DSCR loans, even STRs. To get 10% down, the equation is as follows: You can qualify for 90% of the purchase price, so long as 90% of the purchase price is under 80% of the As-Is value. Ideally, the property would have existing STR income statements to use for DSCR, but if not, some lenders will also look at comparable STRs that you hold in the area. I'm based in Orlando and work with numerous STR investors. I also own a mortgage company, so these guidelines are up-to-date.

I'd echo that 4.59% doesn't exist on DSCR loans at the moment, so my assumption is that this isn't a DSCR program. The 3pts refers to the origination fee, which is just 3% of the total loan amount. It should have no affect on your monthly payment.

This seems to be a fairly standard HML scenario, assuming the asset is residential. Without know your experience and credit score, you can qualify up to 90% of the purchase price + 100% of the rehab, as that figure doesn't exceed 75% of the ARV (the max LTV). I'd expect points between 1-2.5% and a rate between 8-11%. If you go true private money and not HM, those rates and points will be much higher, and likely less leverage. Happy to connect and help further if needed.

Michael, I'm in Orlando and I'd be happy to help. I'll message you.