All Forum Posts by: Peter Stur

Hello Bigger Pockets Community, I'm looking to refinance 2 of my properties into a 30-year amortized loan at 80% LTV. I am currently in a high-interest hard money loan product for both properties and sitting right at 80%. (Normally I can do 75% LTV but the I don't have enough cash right now to come to the table with an extra $62,500)

I’m having a trouble finding a lender that can go up to 80% on an investment property, any advise would be greatly appreciated.

Thank you Jeff and Bill, I appreciate the advice. Both of your replies are very helpful!

Hi Bigger Pockets community, 

I'm a Real Estate investor who's been doing fix & flips in the Denver area for the past 10 years and I'm ready to expand my business into wholesaling. Being completely new to the wholesaling side I am looking for any advice & guidance so I can avoid making too many mistakes from the beginning. I've come across numerous "wholesale coaching" programs wanting 5-10k up front but I've heard mixed things so don't know if that's the best route to go. Are there good resources out there that provide the proven scripts that work, best mailers to send out, and the right lists to call on and mail out to without spending a fortune up front? Any advise on getting started with wholesaling would be greatly appreciated. 

Thank you Jennifer. I am located in the Denver area and already tried a few local banks & credit unions with no luck so far. If you know any Colorado banks that can do this please let me know and I'll definitely give them a call. 

Does anyone know of lender that can do HELOC's for rental properties. I've got strong equity positions with a few different rentals and would like to have access to additional cash, but every lender I've spoken with so far can only do HELOC's for primary residences. A cash-out refi would be the back-up plan, but I'd really prefer to not go that route if I can secure a HELOC instead.

@Tim Roberts

Awesome info Tim. Can you send me your contact info and I will give you a call.

Last year I switched from the fix & flip method to buy & hold (specifically the BRRRR method thanks to the Bigger Pockets Podcast). I am now up to 5 rentals but most lenders are telling me that I will have issues trying to refinance once I get to 6 - apparently I need to have a lot more reserves in the bank, need to show a lot more income on my tax returns, need to show two years of rental income history, etc.

I see investors on this platform all the time talk about scaling their business quickly and having portfolios of 10, 20, 40+ rental properties. My goal is to get to that level but definitely running into some roadblocks.

I started with only a few thousand dollars in the bank and did most of the rehab work myself in order to get through my first few flips. I buy all my properties with hard money lending and then refi to 30 year mortgages after the rehab is complete. Thankful to have gotten this far without having lots of cash to play with, but now I’m struggling to get to that next level without having the cash reserves, high income, and long term rental history.

Any advise in regards to lenders/lending options with more than 6 rentals would be greatly appreciated.