All Forum Posts by: Rajneesh Jha

@Nik S.- that must have been frustrating. Its wasted time and it infuriates me. You are based in OH, do you know any local mortgage brokers there. And lastly, have you thought about refinancing the 50 unit with the same bank that is financing your 54 units? PS: my property is commercial too.

@Syed H. thanks for letting me know. This is great insight. So you recommend holding off for a bit if I want good rates and terms? Do you have a good mortgage broker to recommend?

@Steve Vaughan my purpose is to lock in the historic low rates and possible do a cash out refi. thanks for posting.

@Nathan Gesner- thanks! Excellent job cultivating the relationship with your lender. I am assuming that you deal with the same bank every-time and that has made your process so efficient. They trust you because you have so much history with them.

@Chris K. thanks for the offer. My properties are in the Lehigh valley- Allentown and Bethlehem, PA

Hi Bigger pockets community. 

I am a landlord based in PA and have a 20 unit multifamily residential property in OH. I also have three smaller MF properties in PA.

I have been facing challenges in refinancing the property. The property is a strong cashflow machine despite COVID-19. I have excellent credit. I have very well documented quick book organized financials for the property. I have provided all the required documents to my OH based mortgage broker in February, 2020. I still dont have any line of sight into when the things will start moving on my application. 

I dont know if my mortgage broker is bad, giving me the run-around or things are still jammed up in the banking pipelines due to the PPP loans and EIDL grants etc.

I was wondering if you have the same experience with your applications. If you have had a better luck, do share with this community!

Thanks- Raj

@Pedro Bartolomei- Phil D Houck. look him up on google. he is okay

Engineer by training

Andrew- I have a ok Property manager and good bank. Talk to Mike Lahanas @ Embassy Bank. They are good but they are only working with local (lehigh valley residents)- so not sure if you qualify. good luck

Also, have you read the book called long distance real estate investing by David Greene! its perfect for what you are doing

@Pedro Bartolomei- Sorry, Pedro I don't. I have not had the need so far because my PM takes care of everything.