All Forum Posts by: Matthew Lindsey

@AJ Exner @Brandon Croucier

Thanks for the reply. The tenants have been there over a year and I can show proof of payment if that makes a difference. Just would prefer to keep them month to month unless it’s going to be a issue.

Hi,

Does the type of lease term make a difference when wanting to do a DSCR type refinance loan? I have some leases that are Month to Month and I just want to make sure that will not hurt me during the process. Whether it will increase interest rate, make it more difficult to find a lender, etc. I would like to know.

Thanks,

Matt

@Jay Hurst No relation to the tenants. 

@Erik Estrada That should not be an issue.

@Erik Estrada Hi Erik, the tenant is a business entity.

@Jonathan Taylor messaged you. 

@AJ Exner Hi, the properties have tenants in them now.

Hi, 

I'm looking to pull cash out of 2 SFHs in GA. Looking for a 30yr fixed DSCR where the lender does not care if the tenants for the properties are in the name of an LLC. Preferably a seasoning period of less than 6 months as we have owned these properties for almost 5 months. Please let me know if you can help.

Thanks,

Matt

Hi,

I'm in the middle of getting a DSCR loan. I'm pulling cash out of a couple rental properties. My question is if the lender has already pulled my personal credit/ran my credit, will me pulling from my HELOC on my primary home hurt me in the DSCR process? I have another deal that I may need to pay cash for to lock up but don't want to complicate what's already in the works. I know pulling from the HELOC affects your credit once it hits. After seasoning I would cash out to replenish the HELOC.

Any help on this is appreciated. Just don't want it to throw up any red flags, hurt, or slow the DSCR loan process.

Hi,

I'm considering taking a route I haven't thought of before. I listed one of my SFH's for rent and had a company contact me wanting to do residential recovery/rehabilitation from the home. 2 people/Bedroom. The people would be on a program for drug rehabilitation, trying to stay clean ,get on track, and would have a full time manager in the home.

Anyways, I’m renovating another home right next to this one and they want it as well. I feel like if this goes well it could be a good thing but if it goes bad then it could get nasty. Normally I don’t accept tenants like this. I’m sure others have done this in the past with mixed results. I would just be the landlord not involved in any day to day things. The properties are in a C neighborhood already.

For those that have done this have you needed to create a whole new lease agreement or can you just have addendums added. I think it would be considered a Corporate lease since the lease would be in their business name. Any input would be appreciated. Thanks