All Forum Posts by: Michael Kuldiner

contact me 267-243-5353 i have a few 

umbrella policy is usually associated with your individual coverage. it's a secondary policy in case the first one is not enough.   statefarm has good policies for fix and flip properties.  contact

Gregg Englebreth - State Farm Insurance Agent
(215) 552-9900

if you want to get in and out quick i suggest you use a private or a hard money lender.  you can close in 10 days or less and get your project moving along.  may seem expensive but in the short term its pennies compared to the time you will waste with commercial lenders going through the app process, appraisal etc.. within 6 months you can renovate and stabilize the property and refinance with a local lender or into a DCSR loan. the different in cost in this process is extemely small if you look at the time saved and expedience of a private/hard money lender. 

Quote from @Peter Brown:

@Marcos Gonzalez What are the usual terms for a DSCR loan, Marcos? And is the income based solely on projections or past actuals (assuming these are available at all)? Thanks

Dscr loans take three times longer than hard money loans ti close. The beauty of hard money loans is that they are private and could close quickly. Speed is a game changer in real estate investing. Sellers like to close in a week to 10 days.   your quick closing offer becomes more appealing with a hard money quick closing loan. 

Quote from @Peter Brown:

@Marcos Gonzalez What are the usual terms for a DSCR loan, Marcos? And is the income based solely on projections or past actuals (assuming these are available at all)? Thanks

@Colin Roberts hi Colin. Bucks county is certainly a safer investment than surrounding counties. If you have opportunity to get deals don’t think twice. Hard money is the quickest way to get the deal done. It’s as good as cash. Once you stabilize the property you can refinance out of it ASAP. Feel free to reach out with any questions.

do you actually have deals to send or just gathering a list for future deals?  Seems like everyone is collecitng emails these days. :)

@Anthony Angotti it’s not expensive once you stabilize the property. They usually go up to 75% ltv and by the time you stabilize it i am sure you’ll have it by then.

@Anthony Angotti private or hard money is the quickest way to scale. Once you stabilize your portfolio, hook up with a local small bank to refinance and cash out. Then repeat.

@Irfan Raza agreed i haven’t seen any change in Phila since the passage of the law. Most of the deals we lend on have a wholesale fee on it. No one seems to know what the licensing requires of any party in a transaction. 🤷🏻‍♂️