All Forum Posts by: Robin Simon

 Hi Danna - I'm a lender in Austin (we do a lot of deals in Southeast Texas), our fees are typically 2-3 points on Hard Money and 1-2 points on long-term 30-year financing.  These in my view are pretty fair and reasonable, anything much more than this I would think is excessive

Just FYI DSCR minimum on portfolio loans is generally higher, typically 1.20x or 1.25x

Hi Nick - I can potentially help (Easy Street Capital), we do a ton of STRs in Joshua Tree (and a few in Big Bear as well), we are totally fine with property managers.  We do have a minimum of 20% down however (and values in vacation mkts like Joshua Tree are getting more scrutinized right now, although not as much if a pure purchase), so if 10% is a sticking point a general non-QM mortgage broker would be your best bet (although Fannie just in April really tightened up on this product if 10% down).  Regardless, would be glad to chat about lending options on this type of property as I have lot of experience here.

You are going to want to look for a non-QM lender that qualifies through bank statements, asset depletion etc.

Hi BiggerPockets!

My company Easy Street Capital is a sponsor at this month's upcoming SFR East conference in Miami Beach (https://www.imn.org/real-estat...), this is a great conference that has a great gathering of investors and vendors in the SFR space with a lot of good panels, discussions and networking events. I have an extra ticket to give away if anyones interested (must be an investor/flipper) (current price is $1,795).

No strings attached and its just the ticket (will have to pay for lodging/travel) - please PM me if interested, first come first serve.

DSCR loans are likely your best bet (offered by private lenders, not banks). These are designed for LLC borrowers and are primarily concerned with the cash flow of the property to underwrite (with no high requirements like 100k revenue). A lot of DSCR lenders will lend to foreign nationals as well, but terms will be much better if you are a permanent or non-permanent alien terms will better

Hi - He was probably referring to the DSCR loan product, which runs FICO and requires typically 6 months of PITIA reserves in liquid assets, but otherwise is based entirely on the property (no income verification, no tax returns, etc.) I lend on that product and definitely in the Portland area (we aren't local but lend nationally). I'll send you a PM to discuss our options!

 Hi - we have tons of experience in both Nashville and non-warrantable condos.  We can do 30% down, send me a PM to discuss, I'd be glad to help!

Are you currently occupying the condo? If so, then you can't do DSCR (non-owner occupied only) and HELOC would probably be your best bet