All Forum Posts by: Ryan Keenan

@Andrew Postell

Thanks for your response,

Buying using hard money.

When using portfolio lenders is it common to not have taxes and insurance in escrow and having to pay them yourself?

I have 6 conventional mortgages and just used to everything included in one bill.

What would you suggest the best way to get around the 6 month seasoning? I did look into delayed finance and putting the rehab on the hud but my attorney looked at me with deer in headlights look.

Thank you

Hey BP, question about portfolio lenders and using smaller banks to escape to dreadful 6 month seasoning. One small bank near me said they could do a cash out refi with no seasoning at 70%ltv. He called these types of loans home equity loans however taxes and insurance would not be held in escrow and I would have to pay that seperate. My question is that typical when using portfolio lenders and is it a drawback?

Thanks!

Ryan

@Kerry Baird

Thanks for your help!

Hi BP,

Does anybody know where to get a heloc on a investment property. I got pretty far with td bank until they found out I have 6 investment properties. They only led up to 4. Wells fargo you can only have 5 and pen fed 3.. or where to find unsecured lines of credit? Seems like the more properties you have the harder it is to qualify for smaller loans. Have excellent credit and 0 personal debit.

Thanks

Maybe I heard it wrong but let's so you had 10 conventional mortgages and had to forclose on 2 is the rule then that you forclose on them all?

Hey BP, was wondering what would be the purpose of using delayed finance ? You would have two closings.. why not just put down a down payment from the start?

Thanks!

Ryan

Any updated on the ct eviction process I heard now it's the 25th of August? Will this awesome governor keep pushing back the date? 

@Steve Vaughan

I must have called every bank small and large in my area talking with there commercial lending department. They all have a 6month seasoning atleast and most will only lend loan to cost not ARV which does not help me.

Buying two properties a year is not exactly the fast track to financial freedom.

@CJ M.

Did you have to wait a seasoning period?

@Daniel Ferster

Was wondering what national lender?