All Forum Posts by: Ryan Deasy

@Ryan Henriksen 

hey those conventional terms are pretty good. does it have a pre payment penalty?

most borrowers that i see looking to do what you are doing, are just getting in and out with hard money/bridge loan. rate and points will be higher but the rehab will be 100% covered. it will be less painful as far as underwriting etc goes. we will not ask for tax returns, etc. you may run into all sorts of questions from a conventional lender especially with that purchase price. let me know if i can quote this deal for you. thanks!

@Angel Celis Lopez sorry! i did not see your message. sending you a message now

@Jasha Bennett sure can! i will send you a message

@Jasha Bennett

@Account Closed hi! i actually live right in CT and would be happy to provide financing. i have been an investor a long time too. just sent you a message. 

@Simon Obas hey simon! long time no talk. its important to have a local agent. im going to send you a message. my partner could get it sold for you. i am confident in that!

@Tyler Quick hey, seems a little salesy and gimmicky. but, certainly worth vetting. i will say, we do 100% financing as long as the purchase and rehab come in under 65-70% of the ARV. maybe that is what they are talking about.

@Anna Washburn i prefer hard money. i think there is more scalability. of course, if you had a crazy high HELOC with millions of dollars available at a low rate, maybe it is a different story. short of that, hard money is quick and easy and the reimbursement on the rehab is great. if you can find a reliable lender that is half the battle. one of the great things we do is if you can get a property where the purchase and rehab is under 70% of the ARV, then we can finance it 100%. hard to beat that! furthermore, there is the leverage argument. if you find a 1M$ property, maybe you need to shell out 15% or 150k$ for the the downpayment. if you are just using a HELOC and no bank/lender financing, you are on the hook for 100% of the purchase and 100% of any rehab needed.

@John Hawks hi, also curious about the exact purchase price and rehab. i may have a good fit for you. 

@Jonathan Castro find a DSCR/hard money/bridge lender that can cross over state lines. i bought properties on the east coast when i was living in texas. i was actually asking this same question a few years ago!