All Forum Posts by: Mike Morehead

Easiest loan we do. STR financing is 100% of my business. Have done a lot of deals in Broken Bow. Outside of appraisal and title we control the entire process.

Hi Derek, There are more DSCR options than you think that have no prepayment features. Some of my best priced DSCR investors I work with as a broker do not have prepayment clauses.

When rates fall tons of homebuyers are going to enter the market and it will become even more of a sellers market. 

Hello BP Community,

My partner and I just set up our LLC and business bank account to invest in real estate in Maryland (Baltimore and Harford counties). We have no investments yet nor have we conducted any other operations. Now, we are currently establishing business lines of credit, unsecured, which are based on our personal credit (we're each doing this through separate LLCs). The financial adviser that is establishing our lines of credit is charging 8% of the line of credit up front, with no additional payout to him thereafter. For example, my partner should be getting a $50,000 line of credit, so that'll cost him/us $4,000. Is this typical or is this quite high?

Thank you,

Ray

Yeah I was wondering also. We do private money and we only charge $750 a one time fee of to get a application, then you use the money as you see fit.

Hi Mike, Local Floridian here! What part of Florida are you in? Is this a purchase or a refinance? Happy to help answer any questions.