All Forum Posts by: Rian Ash

Looking to sell properties in these areas. All have long term rentals. Exiting the portfolio to move onto the new adventure

Hi BiggerPockets Team,

I have a tenant which hasn't paid rent for sometime and has damaged the property and local legalaid attorneys are helping the tenant by throwing the kitchen sink at me by false accusations :) Do you have recommendation for Eviction Lawyers in the area who I can talk to get advise and representation?

Thanks,

Rian

@Eric Johnson Thankyou! What you suggested makes sense and per my calculations, I should qualify this way too! I will check with my lenders

Hi Underwriting experts,

Here is the situation I am in,

I got in contract for 2 properties yesterday. The plan was to go with only 1, but they both are attractive. They both will be investment properties and I will have rental leases for them setup before the close.

To pass the D/I threshold, the underwriters need to consider rental leases from  these properties. I know the underwriters can consider future income as long as the lease is in place. But what happens when you have 2 properties going through the underwriting at the same time.

1) Will they give clearance on both the properties together and consider the future income or

2) The will look at properties individually. What that means is that they look at property A, consider its (future) rental income and don't consider income for B, since it is a future. Essentially consider debt from both but lease income from one.

Let me know if anyone has any experience with this situation. 

Thanks,

Rian

@Haihui Locke chevron federal will 75ltv heloc, they are still doing it. I have 2 going on with them. PenFed will be better if you have less than 4 properties

Bumping it again to see if the members know of any another Credit Unions/Banks? Thanks

Thanks @Jack May but I am looking for ARM products.

@Kerry Baird - Thanks for the list. Some updates per my conversations with the lenders, Calcoast is doing 70% LTV on investment properties. Figure is not doing Helocs on investment properties at this time.

Hi BP Members,

With the mortgage rates going down, I was wondering if you know of any credit unions, providing ARM options on investment properties with mortgage rates around 3%.

I was able to secure 2.875% 5/5 ARM with Travis credit union in the bay area (the rate and credit has worsen since I locked it), but they only take 4 loans from an investor,

Does anyone know of any other credit unions which could be in this range?

Thanks,

Rian

@Jaysen Medhurst thanks a lot!