All Forum Posts by: Miranda Holland

I am purchasing an SFR under a conventional mortgage. I also currently own (100% ownership) a multifamily building which I have a mortgage on. The building is owned by an LLC not by me personally. Due to me being the sole owner of the LLC there is no need to file a tax return for the LLC so it appears directly on my tax return and not as a K1.

The underwriter for the SFR loan I am getting said that they cannot exclude the multifamily mortgage from my personal return because it appears on schedule E and not as a K1.

This doesn't make any sense to me as it is a a separate entity and the building nor the mortgage is owned by me personally. I even asked the underwrite if I had 99% ownership of the LLC and 1% someone else and I would receive a K1 would it then be excluded. His answer was yes. He even told me it's a stupid technicality but that those are just the guidelines.

Does this make sense or is it just this specific mortgage lender not understanding the guidlines?

Ouch! I with a lower LTV I am still in the 7s.

My wife and I are Canadian. We own a USA based LLC for real estate investing. I have been speaking with lenders regarding cash out refis. Most are coming in at 60 to 65LTV for Foreign Nationals. With the high DSCR loan interest rates we're finding it hard to get decent returns when your leaving that much money in a deal.

Good evening friends! 

There has been a lot of rate volatility this past year and we've seen many lenders have some difficulty servicing their market. That said, who has become your Go-To hard money lender?

Hi everyone, I'm reaching out to see what loan options there are for a commercial unit with single family residence on it. My plan is to buy, rehab and refi to pay back the loan with interest and sell my current house to move into this property.  My current house sale would cover half of the initial loan of $325k (about $150-$160k which is pretty below appraised value) and the refi would cover the remaining 50% plus interest.  The LTC would be around 35% considering the property doesn't need any major repairs.  for a little background on myself, I own 3 income properties in an llc as well as my current house, they're all paid for except a heloc for 50k on one of them.  I completed an extensive rehab my primary house last year, as well as rehabbing all 7 units on my other properties, so I have the experience it takes for this flip, just not the timeline for a traditional mortgage if I'd like to put in an offer.  So I'm wondering if anyone thinks a private hard money loan is a logical way ( or even possible) to get funding for this project.  Is this an attractive option for any investor? it seems pretty low risk with selling my primary house with the ability to borrow against another one of my properties if necessary, but I am relatively new to any lending outside of a bank.  Any tips would be greately appreciated!

Brandon Fischer