All Forum Posts by: Raquel Brown

Hello guys, I am a draw inspector and I’m looking to connect with more companies. I’ve signed up with about 5-6 companies so far. I am looking to see what other companies I am missing.

Who do you guys recommend? Whether it’s a company you’ve worked with before as an inspector or have used before as an investor/lender. 

I’m looking to fill my idle time with draw inspections multiple times a week by getting my name out there more. 

All feedback welcome 

I definitely can. I just need to pay down my card utilization. Which is a slow process. These loans have expirations dates approaching. 

Ones located in Greensboro Nc and the other is located in reidsville Nc 

the fees I see on this soft quote are: origination fee, underwriting/processing fee, 3rd party closing costs, 6 month tax impound, 6 month insurance impound, looks like 11-12k in fees alone.  

both homes are rented already for several months 

I’m at a total lost right now! 
l was just told I would have to pay 23k to refinance a portfolio rehab loan on two properties. 
they are only lending 70% LTV, my rental rates are $1785 and $1985, but the market rents in the areas are only $1400/1450.

I really wanted to keep these as rentals so I’m trying not to give up. 

The interest rate they gave me at us 7.70%, 5/1 ARM, rent to debt service ratio is 1.21

My credit score is 672. Loan amount is 283,500 for the two properties, origination fees are around $4,300. 

Property 1: ARV: 185k appraisal came back at 179k

Property 2 ARV: 230k appraiser came back at 226k

any insight will be great. Or lender recommendations. My goal was to do a rare and term. Wasn’t looking for any cash back in this market but definitely wasn’t expecting 23k to refinance these two deals.