All Forum Posts by: Nick Belsky

@Timothy Fortin

If they are currently on one APN then every lender will treat it as a duplex.  Split the APN for each property then they will be treated as individuals.  Since you are not planning to hold them and sell them individually it makes sense to do this now or during closing.

Cheers!

@Zenas Underwood

I am always perplexed when folks get hung up on gift funds for DSCR loans. There are so many nuances around it, why not use a DSCR lender who does not source or season funds to close? The ones I work with are within 25-45bps pricing with all the other lenders I see.

Cheers!

@Taylor J.

It's all about your experience, the address, the Scope, and the ratios.  We are seeing some lenders get very aggressive on hard money loans right now.  A few are doing 90% of purchase 100% rehab under 8%.  I haven't seen those kind of terms for a few years now, but am seeing them more and more for experienced folks.  

Are you working with a broker by chance, we can often help find the best lender that is a fit for you scenario...

Cheers!

@Mike S.

Sure there are. The issues that most run into though is the property doesn't cash flow enough to support a higher LTV or most lender require a minimum FICO to qualify for the higher LTVs... some lenders have other experience requirements and reserve requirements as well... all depends.

I priced out a 85LTV DSCR at 7.625% at par with a 3-2-1 prepay yesterday. That's pretty impressive. That lender requires a 740 FICO minimum to go over 80LTV. The DSCR calculated to 1.33 with that leverage and rate, so a pretty solid deal at first glance.

Cheers!

@Peter Vercellin

You just need to find the right lenders, that's all. The basic mechanics of DSCR are all pretty similar just different lenders have different investors backing their capital, so the guidelines and requirements can vary quite a bit. It can be a little tricky to navigate when there are so many options out there.

Are you working with a mortgage broker by chance?  We can be very helpful, especially when you are just getting started and lack resources.

Cheers!

Welcome to the community @Cody Hamling!

Be ready for a wealth of information at your finger tips. Be sure to explore all around the forums as well as many of the FREE tools that Bigger Pockets provides.

I am on the lending side of things and am always happy to hop on a call to discuss loan options that are out there, even if not offered by my resources. We are here to help you and each other, so ask away!

Welcome @Joseph Mena!

Be ready for a wealth of information at your finger tips. Be sure to explore all around the forums as well as many of the FREE tools that Bigger Pockets provides.

I am on the lending side of things and am always happy to hop on a call to discuss loan options that are out there, even if not offered by my resources. We are here to help you and each other, so ask away!

Congrats @Justin Kemper!

Be ready for a wealth of information at your finger tips. Be sure to explore all around the forums as well as many of the FREE tools that Bigger Pockets provides.

I am on the lending side of things and am always happy to hop on a call to discuss loan options that are out there, even if not offered by my resources. We are here to help you and each other, so ask away!

Congrats @Rowdy H.!

Be ready for a wealth of information at your finger tips. Be sure to explore all around the forums as well as many of the FREE tools that Bigger Pockets provides.

I am on the lending side of things and am always happy to hop on a call to discuss loan options that are out there, even if not offered by my resources. We are here to help you and each other, so ask away!

Hello @Juan Lopez!

Be ready for a wealth of information at your finger tips. Be sure to explore all around the forums as well as many of the FREE tools that Bigger Pockets provides.

I am on the lending side of things and am always happy to hop on a call to discuss loan options that are out there, even if not offered by my resources. We are here to help you and each other, so ask away!

We do a reasonable amount of business with STR lending options and in Colorado.