All Forum Posts by: Paul Higbie

Craig, your situation is pretty simple for either a conventional lender or a private lender to deal with based on what you describe. Are you including the rental income in your DTI calculation?

Paul

I am interested in seeing if I can assist you.  What size deals are you currently working on for your brrrr strategy?  Paul 

Hello Cindy. There are several options available for borrowing within your LLC and not have to mess around with moving the title into and out of your name or the LLC. Are you interested in doing a cash out refi or just a straight refinance of the current loan? Paul.

Jeff,

There are many solid areas in KCK for investment, both for buy and hold as well as flips.  The entire area has improved dramatically since all of the investment and development activity began out west with the speedway, soccer stadium, Legends shopping and all of that which just continues to grow.

Let me know if you have some specific areas that you would like to discuss.

Paul.

Constance, I am curious why you are seeking hard money for this long-term hold on a rental property.  Are you trying to get in with no down payment?  Paul.

This may not be the answer you are seeking but staying put with that kind of cash flow is also an excellent strategy and enables you to build long-term wealth, slowly. If you still want to explore cash out I can assist with 80% LTV with cash out and your P & I would be just over $1000.

 Just make sure that if you go the cash out route, regardless of what lender or loan program you choose, that you are utilizing that money to make more money and not just using it to have “fun”.

Paul.

I can recommend a few realtors in the KCMO area that are investors themselves but also work with investors. They have many repeat clients so that speaks for itself about whether they are treating them right or not.

Contact me directly if you would like the referrals. And I can help with the financing too.

Paul.

Kevin,

Are you looking for short-term financing for a fix and flip scenario or are you looking for the long-term loan as part of the BRRRR strategy?

Paul.

Taylor,

Give me a call at 913  636  7504 or an email at paul @ icpkc . com  I may be able to help.

Excellent advice Edward Stephens about mis-characterizing the source of the down payment.  Mortgage fraud is serious and the federal government does not allow one to say, oops, I did not know.