All Forum Posts by: Ryan Hehman

Best of luck to you! Real estate investing is a great complement to your painting business and vice versa. Some of the most successful investors I know have started out as contractors. I have a connection for unsecured lines of credit that may be a help to you when the time comes, feel free to reach out any time. 

Hi Amy, if he has an LLC that is at least 2 years old, I may be able to help with unsecured business lines of credit. If he wants and LOC collateralized by his properties, a relationship with a local bank or CU may be the best option. Feel free to DM me to chat more.

We provide $25,000 to $150,000 in unsecured lines of credit for business owners and real estate investors who need funding for investment opportunities or working capital. No collateral or financial documentation required. 650+ credit score needed and no derogatory items reported.

RE Investors typically use these lines of credit for: GAP funding, down payment funds, Rehab money, holding costs, emergency funds, and working capital. 

Reach out today with questions, or to see how much you qualify for!

What's the breakdown of square footage between the living space above vs the commercial retail space below? For mixed use, some lenders require the residential space be 51% or more of the total rentable sq footage.

Hey Gary - you can refinance with a commercial loan as long as the property is held in an LLC. Your equity is the property value minus what you owe on the current mortgage. Percy above is correct about LTV. Refinancing to pull cash out may or may not make sense (or even be possible) depending on how much you still owe, interest rate, pre-payment penalty etc.

Hi Chris - what's the end purpose for putting all your residential properties in one LLC? If you'd like to refinance them all under one loan, take cash out, and use that to purchase a new property, then a commercial portfolio loan is going to be your best bet. How exactly to structure the portfolio loan will depend on some of the property specifics and the amount of equity in each. Conventional financing with a residential lender is going to be more difficult and in most cases impossible if the properties are held in an LLC. Feel free to shoot me a DM if I can be of any further assistance.

Just completed a DSCR cash-out refinance for a borrower of a single-family short-term rental property.

Loan Amount: $402,500

Rate: 4.875% ( with 2 point buy-down)

70% LTV

30 Year Fixed, Lite Doc Program

I think it's possible that a commercial lender would take this on as an acquisition/bridge scenario, but more specifics about the property are needed. Feel free to DM me for more info.

A commercial portfolio or blanket loan would definitely be the way to go, but a lot depends on the specifics of each property, the transaction and the borrower. Feel free to message me to discuss further.

Welcome! Always happy to chat about the ins and outs of financing multi-family acquisitions, whether they're already rented or in need of rehab. Are you working with a good local agent who knows the space?