All Forum Posts by: Mary Ainsworth
Mary Ainsworth has started 30 posts and replied 231 times.
Post: DSCR loans on condos
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Quote from @Nishan Akwalia:
Looking for a lender with 1% fee or less on the loan amount with 6%-6.5% rate that can provide 75-80% LTV. This would be for a condo (possibly 2).
Even better if able to provide services in Indiana as well.
Hi Nishan, this is us! We charge 1 point but can get you 0 points for your first deal with us and we go up to 80% for purchases, 75% for cash out refis. Our floor rate is 5.50% but it’d most likely be around 6.00-6.50% depending on the condo numbers
I’ll DM you more info
Post: Construction Loan Refinance with 20% LTV
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Hey @Jackson Boyer my company could help here. We offer long term loans based on property income rather than your W2 income
I’ll send you more info over DM so you can know where you’d land with pricing
Post: Hard money lender +5 units
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Quote from @Maurice Smith:
Found a good hard money lender but they don’t lend on anything above 4 units.
any recommendations for some good hard money that lend on 5+ units in the Ohio area or nation wide would be appreciated.
Hey Maurice, we lend on properties up to 20 units! Both renovation loans and also buy and hold long term loans. Especially in Ohio you'd do quite well with a DSCR loans as rent to price ratio is strong there. You'd be around
- 70-80% of purchase funded
- 0 points for your first deal
- 6.00-8.00% rate depending on the deal numbers
Post: Looking for a hard money lender for land
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Quote from @Rodney Thompson:
I am looking for a lender for a short, hard-money loan for land. I have two parcels under contract that I need some temporary funding to complete the deal. Do you have anyone you have used that you can recommend?
Hi Rodney, I'm a HML and we sometimes lend on land, I'll message you for details but bridge loans are usually 9-12% rate, 1 point, and 70-90% of purchase price funded
Post: Looking for fix and flip leads in DC/VA/MD
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Quote from @Alazar Wubet:
Does anyone know of any good services to get leads for fix and flip properties from motivated sellers, or deals from wholesalers?
1. Vulcan7 (www.vulcan7.com)
- Provides expired listing leads
- Offers phone numbers and contact information for expired listings
- Includes tools for managing and contacting leads
2. Landvoice (www.landvoice.com)
- Offers expired listing leads with up to 95% of phone numbers included
- Provides For Sale By Owner (FSBO) listings
- Includes pre-foreclosure data and call capture features
3. Batch Driven (batchdriven.com)
- Specializes in text message marketing for real estate investors
- Offers phone number lookup and skip tracing services
- Provides tools for managing and automating text campaigns
Post: DSCR HELP- Closing Oct 4th
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Quote from @Nandish Desai:
Hello
My credit score took a hit due to incorrectly reported late payments. Since then the bank has reported a dispute with the credit bureau to remove that late payment. That takes at least 4 weeks to resolve.
I already have a property under contract with closing on Oct 4th. Any DSCR lenders willing to work. Our current lender is not willing to move until credit dispute is rectified. Inspection and appraisal already done. Property is in NH, current credit score is 680, corrected would be 750+.
Hi Nandish, I messaged you separately too but I can lend on a 680 FICO score if you're looking for a quote. The rate won't be the lowest but it's better than passing if the deal makes sense! Let me know if you want more info
Post: Condo Hotel Lender
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Quote from @Ryan Leach:
Hello! I am a realtor in Miami and currently looking for a lender that can finance a condo hotel with more than 70% LTV. Hotel has significant reserves.
Just DM'd you! I think I can assist, we lend on properties up to 20 units, 70% LTV for those, and rates for multifamily DSCR start at 6.00%
Post: Looking for Private or Hard Money Lender (Rockland/Orange County NY)
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Hi Rotchild,
Just sent you a DM with my contact info but I'd be happy to help here! We can offer you a proof of funds letter and preapproval letter for any deal you're putting offers in on. And some highlights of our specs include:
- -80-90% of the purchase funded
- -100% of the rehab funded
- - 0 points on your first deal, 1 point on deals after that
- - No prepay penalty
- - 8.99-11.99% rates on fix and flips
- - 5.5-8.5% rates for DSCR loans too
Good luck and let me know if you'd like to get some more info! We can always hop on a call.
Post: CPAs Recommendations for New Investor?
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Quote from @Mitch Messer:
Quote from @Mary Ainsworth:
Hello!
I'm looking for a CPA and/or tax strategist that can help me start tax planning now that I own a property. I want to know what things I should plan to write off, what tax loopholes I can take advantage of, if I should do bonus depreciation - things like that
If anyone has any recommendations for NEW investors that would be great! I'm looking for people who work with rookies because I'm still new - I don't need the really expensive CPA who does intricate tax strategies yet.
Thank you! I'm in California and invest in Oklahoma
Hey Mary, I've got a great CPA recommendation for you. I'll reach out with contact info.
Where in Oklahoma do you currently invest?
I'm active in Tulsa and have contacts working Oklahoma City.
Oh perfect thank you! I'm in OKC
Post: CPAs Recommendations for New Investor?
- Lender
- San Diego, CA
- Posts 235
- Votes 94
Hello!
I'm looking for a CPA and/or tax strategist that can help me start tax planning now that I own a property. I want to know what things I should plan to write off, what tax loopholes I can take advantage of, if I should do bonus depreciation - things like that
If anyone has any recommendations for NEW investors that would be great! I'm looking for people who work with rookies because I'm still new - I don't need the really expensive CPA who does intricate tax strategies yet.
Thank you! I'm in California and invest in Oklahoma