All Forum Posts by: George Despotopoulos

I would also be happy to view some of your content and give you feedback. Feel free to direct message me.

Hi @Alicia Prado, where are most of your deals? Feel free to private message, happy to help in any way I can, or check-out my signature to otherwise get in touch. 

Hi @Bradley Calvin, this is a bit late, but if you need any help please don't hesitate to direct message me here or e-mail at the contact info on my signature. Happy to lend any sort of guidance/advice. 

Hi @Sean G., I would love to provide some insight here, but I'm not really sure what you're asking/looking for. 

Depending on deal terms many specialty lenders (private money/hard money) will go above 15%.

If this property is being used as a non-owner occupied rental property, you can cash-out refi with a specialty lender that focuses on rental properties. Feel free to direct message me or e-mail me at the info in my signature if you have any questions.

Hi @Juan Davila, like @Chris Mason mentioned, it really makes no difference from a lender's perspective. We're always happy to get new borrowers and see repeat customers alike.

@Michael Conway. Good Luck. Seasoning is usually 6 - 12 months with the VALUE being purchase price + documented renovations. On average it is 65-70% of that value. 

@Fred Stevenson. Congrats on all your success thus far. We think this is a great market and a big opportunity for lenders to finance successful real estate investors like yourself who do not have other ways of financing their rental properties. There are private lenders out there who will originate a single loan for each property you own, subject to Loan to Value ("LTV") and Debt Service Coverage Ratio ("DSCR") parameters. Lenders will look at income from your property and not your personal income to qualify you for a loan. Rates are usually 6.5% - 8.0% (arm, fixed or balloon) and can usually close within 3 weeks.

Happy to help with any other questions.

@Bruce C. One thing I learned over the years is do not try to time the market. Everything happens in cycles but you will never be able to take advantage of any down turns if you are not in tune with the market. 

@Nicholas W. Thanks. 

We see that as well. We see good borrowers denied from financing because their income is not as high for the number of properties they own. We are a big proponent of looking at rental income for the property and borrower experience rather than personal income of the borrower.