All Forum Posts by: Miranda Holland

Quote from @Michael Bridgett:

Does anybody know of any commercial lenders offering 80% ltv with a 25 year amortization?

This is for a 5 unit apartment building in Maryland. 650k purchase price.

As a private money broker, I have several lenders that offer 80% LTV on long term loans. But it takes the right combination of credit score, loan amount and experience to qualify for the full 80%. I sent you a PM

Quote from @Ify (Bobby) Anizoba:

If you're already in a Fix & Flip project, but you need additional capital due to unforeseen circumstances how do you raise that money to complete a BRRRR that you already started.

 How much do you need to complete the project? 

Quote from @Nicholas Wellet:

Hey BPers,

My wife and I are looking to make a big push on our rental portfolio and are looking for recommendations on a mortgage broker that we hope to be able to work with long-term. We will have a mixture of cash out refi's (BRRRR) and conventional loans (buy and hold). We are located in Northern Virginia.

We are looking for someone who is reliable, a good communicator, and has creativity in finding the best mortgage option for each investment situation.

Welcoming any and all recommendations!

 Hi Nicholas. I have a recommendation for you. I sent you a PM 

Quote from @Anna Dyal:

Quote from @Miranda Holland:

So with 2 homes, you live in one and your mother lives in the other? 

 Yes I have a family and needed the space. 

When it comes to most private lending companies, they lend to the entities of investment properties. Most will not lend if the owner or their family members live in the home. They can be sued by the government for violating financial laws. 

I recommend you contact a licensed mortgage broker and apply for refinancing from institutional banks through them. Mortgage brokers have a network of banks they work with and is the most efficient way of matching your situation with the right lender. If one broker turns you down, go to another one before giving up. 

So with 2 homes, you live in one and your mother lives in the other? 

Quote from @Brady Grubb:

Hey BP! Going through a refi / delayed financing on a property I recently rehabbed and I am just comparing numbers as they seem a little elevated even in the current times. SFH investment property.
30 year fixed / 75% LTV / total loan 265K - great credit. Interest rate is at 6.65% which seems a little higher than current rates, but loan origination fees with points total $4,253. Loan officer is a friend and has been great in terms of creativity so if this isn't totally out of line I will continue on but just wanted to do due diligence. Also curious if origination fees are often negotiated or should I leave it alone. I am located in Maryland. Thanks

Based off what I'm seeing in the private lending industry, it looks like you got a decent offer to me. I sent you a DM 

Quote from @Leanne Sorg:

How do I go about getting a draw from my hard money loan to pay my contractor? Do  I contact my hard money loaner or the title company? Any info would be helpful

Don't be nervous. Call anyone of them. If you call the title company and they tell you to contact your lender to get the funds released, then call the lender. If you contact the lender and they tell you that the title company is supervising the release of those funds, then call the title company.

I would call the lender first though 

Quote from @Oj Isak:

Does anyone know any lenders that offer mortgage without personal guarantee on a fully paid off rental property that is owned by an LLC? Rental property would be the collateral and looking to get about 75% LTV. Looking to establish a lender relationship that would work with the LLC as the guarantor and limit my personal exposure

Private lending companies do have the products you're looking for. Approvals are primarily based off the property itself. However different lenders have different qualifications to determine how much LTV a borrower qualifies for. I sent you a DM

I haven't heard of them. Are you planning to hold this property long term? 

Quote from @Jasmine Wilkes:

was just wondering has anyone heard of and done business with a company called STOA. i seen they changed the name from flip OS

No I haven't heard of them. Sometimes companies pose as direct lenders when they're really not. If I were you, I'll ask them questions like "Are you a direct lender?  And Do you close through a title company? I sent you a DM