All Forum Posts by: Chris Brown

Interest rates for multi fam loans are up about 1% since the summer. The fed wants to raise rates to 2.5-3% over the next few years. How will this impact cap rates? Will investors take the long view and suffer less cash flow for a few years expecting to refi at lower rates or will cap rates increase 20%, 1- 1.5% and building prices fall 20%? 

Citi, Flagstar, Union Bank, Some credit unions.

Avoid new american funding, they pulled 2 financings on me on the day of document signing.

In northern california, almost everything has multiple offers as there is historically low inventory. Prices are up 5-10% over the last 3-4 months but have not fully showed up in the data as many homes are still in escrow.

I dont expect more supply anytime soon given the data on Forclosure radar. Despite the earlier post, banks do not have much pressure to move their investory. Accounting rules are easy so and the govt/att generals are putting lots of pressure to restrict REOs. Prices are going up too, how is that hurting the banks?

Prices will probably be up 20% or so this year in my opinion as we have not hit the peak buying season and lots of potential buyers will likely move into the market once they see media report of rising home prices.

Thanks for the info. BofA has completed the BPO but has not yet approved the short sale or my contracts. Roughly how long should it take from this stage (BPO) to get back to me on the contract? (Yes I know each case is different). The agents and seller say soon but its already been 3 weeks.

Thanks for the information. I am in the SF bay area. Any lender: Credit Unions etc that fit the profile you have suggested?

Any conventional bank lend to more than 10+ mortgage homes? What are the terms?

I am under contract with the seller of a short sale, BofA is the bank. I found from the inspections that it will require more work to rehab the house than thought: big items, plumbing, roof etc that was not apparent with a visual walk arround.

Question is, has anyone been successful in getting BofA to reduce the contract price of a short sale due to items found in an inspection? Describe your situation. Tks.

I have used Coldwell Banker's Mortgage unit to finance my investment property about 12 months ago. I recently asked them if it was ok if I change title from my personal name to an LLC in the State of California. They said no.
What are my options to register it in an LLC?

If I just do it, what are the odds that they accelerate the loan? (I am current on the loan, 5.25%, and still have 25% equity).

I am having difficulty financing SFH home purchases beyond 3/4 units due to real/perceived Fannie/Freddie constraints. How can I finance at a reasonable rate more unit purchases? Use regional banks? What if its a cash out loan as the SFH might be purchased at auction with100% cash?

I have 4 properties. I can use a personal line insurance without LLC's for the 4, but if I go beyond 4 or put them into a LLC, then my agents are saying I need commercial insurance. Hard to get and very expensive!