All Forum Posts by: Nate Herndon

Hi Jose, I might be able to find a buyer for you in my client network. Feel free to shoot some details to me at the email in the signature below.

I pulled together some data and figured out how to create a heat map in Excel for a visual representation of states where I am seeing the most deals in the past 24 months. Thought I would share with the group.

I have not figured out how to easily do so by city yet - but will keep at it nonetheless!

Thanks for asking - happy to give some insight. It will be dependent on experience and the program that is the best fit for the project, but here are some ranges I see on current multifamily GUC.

o 65-70% LTARV
o 75-80% LTC
o 10.5-13.0% interest rates (experience- and LTV-dependent)
o 12-24 month terms
o Interest only loans, interest drawn funds only
o 30-year fixed DSCR refinance available

Hi Amanda, welcome to the BP forums! I am located in Springfield, MO, so also in your neck of the woods! If your property isn't cash-flowing, I would not necessarily define that as a successful BRRRR. I think the 'success' of a BRRRR lies in the happy marriage between cash-out and break-even/positive cash-flow.

What are the DSCR numbers for your property?

Monthly rent:
Annual insurance:
Annual taxes:

Though we do not work in New York at this time, I would be happy to dive into the deal with you and help connect you with the right program - we are operating in 41 states at this time, and help pair clients with the right program in the handful of states that we do not operate in.

If you would like to shoot me an email, I will send you a data tape template to collect the info we need (if you do not have one already).

Looks like you would have a great return in any scenario. Bummer to hear that you weren’t able to capitalize on the 90-day cash out but that’s how some deals go. I’ve got a lot of clients who are knocking out 6-8 week rehabs and taking advantage of 75% LTARV, so the opportunity is definitely there. 

How are your market rents looking?

 Insurance has been pretty tough for my clients in Florida. I would try Obie. 

From a guy who is not a legal expert and can only speak anecdotally, this would seemingly qualify for a 1031 exchange based on what I have seen from clients of mine who did the same. 

Hi @Gabriel Bezner, I am working on quite a few DSCR purchase and refinance deals for clients of mine in the DFW area.

I am a residential, multifamily, and commercial lending partner working with 100+ national private lending programs. Would be happy to explore some rehab and DSCR loan programs with you once you locate a prospective deal. Good luck out there!

Hey @Tony Bryant Jr., I don't venture into the conventional lending space as a private lending broker but I have used my own VA loan twice now. Had we been able to do so, I would have held onto my first single family we bought ($150k purchase, owed $130k when we sold it).

That may kick the can down the road for you, but would not interrupt the home life by house hacking and living next door to your own tenants. Instead, maybe look at purchasing with the intent to hold it as a rental once you move to your next duty station. If you need to free up your VA loan for the next home purchase, you would simply look at refinancing into a conventional loan prior to your move or look at DSCR loans in the private lending space once the house is tenant-occupied.