All Forum Posts by: Nate Herndon

Anderson Advisors - I have a lot of clients who trust them with many of their services.

https://andersonadvisors.com/

Quote from @John Chong:

@Rebecca Oliver You'll be able to qualify as a rural STR property. Max on a rural property is 65% LTV.

More than likely could run this as a long-term rental DSCR if it is a smaller home. Market rents typically support a bungalow little STR for the size loan someone is looking for, and lenders are out there for 75-80% on rural.

@Chad Carrodus I've got clients who are offering 10% on their private loans, but I do think that is a bit lean as @Chris Seveney mentioned. Have heard as high as 22-24% from guys who I refinanced into 30-year loans.

Quote from @Michael Oliver:

Quote from @Nate Herndon:

@Michael Oliver Many national private lenders would be able to assist with the purchase of the residential property and fund 100% of the rehab as well - and some down to $50k total loan amount (purchase + rehab). The vacant lots would have to be funded out of pocket with those lenders, though. A private individual may be able to assist with financing the residential + vacant lots + rehab.

 Interesting! Thank you! I was thinking private would be the best option. Is that something you do?

I am not a private lender myself, but work with a lot of those private national lenders as a broker. Would be happy to connect if you want to shoot me a text/email at the contact info in my signature. I can let you know what terms would look like, specific hurdles, etc. while you also look for a private individual.

@Michael Oliver Many national private lenders would be able to assist with the purchase of the residential property and fund 100% of the rehab as well - and some down to $50k total loan amount (purchase + rehab). The vacant lots would have to be funded out of pocket with those lenders, though. A private individual may be able to assist with financing the residential + vacant lots + rehab.

Hi Aarielle - happy to go over some details with you. Have a couple dozen programs to help narrow down the best fit whether it is a 12-month bridge or a 30-year fixed you need.

Hey all - I work with this lending team if anyone has specific questions.