All Forum Posts by: Miranda Holland

Hello!

I just spoke with a lender that does HELOC and they told me they only do HELOC for primary homes, not for rentals. Have anybody worked with a lender that do do HELOC on rental properties as well? If yes, please leave me the contacts to see if they can help me as well.

Also, How do you go about pulling out equity from your rental portfolio in this High Interest Rate environment? 

Thanks in advance for your answers!

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

We are doing a hard money 12 month loan for a fix n flip and our closing costs are over $10,200. Purchase price is $121k. Is this standard for hard money or too high? 

Are there any fast close lenders that do in house appraisals for Refi?

They state that they are private lenders, not brokers. If that is helpful or revealing in any way. 

I'll be honest, I new to the private lender idea. I'm trying to vet a lender and this is all I can find. I have the LLC filing, their website, and other than that I'm not sure if I'm able to find anything else (or should be able to) to vet this private lender. My initial hesitancy is that the rates look really good, which gives me the "too good to be true" feeling, but I've seen other people find good rates as well. Any help in this endeavor would be much appreciated.

Missouri State Filing

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