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All Forum Posts by: Matt Meier

Matt Meier has started 3 posts and replied 8 times.

Quote from @Erik Estrada:
Quote from @Matt Meier:
Quote from @Jaycee Greene:
Quote from @Matt Meier:

Good morning,

I’ve come across a renovation property available at a significant discount and would like to secure it without going the traditional 6-month financing route. We estimate the project will take less than 3 months to complete.

I’m exploring alternative short-term financing solutions and would appreciate any advice or recommendations on options that might work well for this type of project.

Thank you in advance for your insights and assistance!

 Hey @Matt Meier. What do you mean by "traditional 6-month financing route"? Based on your question, I'm assuming you're looking to flip this property rather than rent it out, is that accurate?


Thank you for your response—I appreciate the insight. My understanding is that if you’re looking to refinance a fixed 15- or 30-year loan, it’s generally recommended to wait at least six months before doing so.

However, given that we anticipate completing this project well before that timeframe, I’m exploring alternative solutions to better align with our timeline to get our investment back sooner

Thank you again for your assistance!



 Hi Matt, 

On a DSCR loan, you do not need to wait 6 months to complete a cash out refinance on the new value. There are several lenders that will allow 90 day seasoning or less.

Happy to connect. 


 Hi Erik,

If I were to do this, wouldn't the lender lose out on their commission?

Quote from @Jaycee Greene:
Quote from @Matt Meier:

Good morning,

I’ve come across a renovation property available at a significant discount and would like to secure it without going the traditional 6-month financing route. We estimate the project will take less than 3 months to complete.

I’m exploring alternative short-term financing solutions and would appreciate any advice or recommendations on options that might work well for this type of project.

Thank you in advance for your insights and assistance!

 Hey @Matt Meier. What do you mean by "traditional 6-month financing route"? Based on your question, I'm assuming you're looking to flip this property rather than rent it out, is that accurate?


Thank you for your response—I appreciate the insight. My understanding is that if you’re looking to refinance a fixed 15- or 30-year loan, it’s generally recommended to wait at least six months before doing so.

However, given that we anticipate completing this project well before that timeframe, I’m exploring alternative solutions to better align with our timeline to get our investment back sooner

Thank you again for your assistance!


Good morning,

I’ve come across a renovation property available at a significant discount and would like to secure it without going the traditional 6-month financing route. We estimate the project will take less than 3 months to complete.

I’m exploring alternative short-term financing solutions and would appreciate any advice or recommendations on options that might work well for this type of project.

Thank you in advance for your insights and assistance!

Quote from @Andy Sabisch:
Are you doing the work yourself?  If you are using a contractor, let them get them as they already have contacts.  One thing I have found over the years is that trying to find the cheapest prices on every item often costs more in terms of time wasted that it is worth.  Home Depot, Lowe's, Menards and even local stores like Ace are one stop shops and what you might spend in terms of a little more, you regain in terms of time saved and the ability to sign up for Pro accounts.  Saving is great - just make sure you are not saving in one area to overpay in another (your time)

 Thank you, Andy!

Awesome, thanks for the feedback @Clint Jusino!

Hello,

I just landed my first multi-family property and one of the units is going to need some TLC. I will be looking at vinyls floors, new cabinets, countertops, windows, doors and bathroom redo. Does anyone have any wholesale secrets, websites to get these products at a cheaper cost? 


Thank you!

Matt

Thank you, everyone. This was very helpful! Just landed my first rental property as well!

Hello everyone,

Thanks for taking the time to read this. I'm looking into a few different loan options. Is there a quick way to see averages for interest rates for investment properties? What would be a reasonable rate today for both conventional and DSCR?

Thank you,

Matt