All Forum Posts by: Ryan Deasy

@Cody L.Thank you. Good to know. I am looking at a few deals now in the Houston area. I may contact you to see if we could work together.

@Cody L. what sort of deals would you be looking to lend on? What specific criteria are you looking for?

@Frank Trigoso @Michael Evans @Joe Villeneuve Thank you all so much for your input here. Very helpful!

Hello: I am getting ready to pull the trigger on another rental. After just acquiring a new personal residence, i do not have enough for a 20% down payment. What are your thoughts about using something like sofi or wells fargo's LOC, etc. to fund the down payment? this would not at all be part of a conventional financing deal. i understand the ramifications there. it would be part of an owner financed or hard money deal where they would pick up the remainder until i could refi into something more favorable. i guess it just boils down to the extra risk in that the property is highly leveraged, right? let's assume i am not buying it at a steep discount and the property would cash flow a few hundred dollars after debt obligations. Thank you in advance!

Arpan Patel i know this is an old thread, but if you don't mind me asking, where is this newly constructed home? i just built a newly constructed home in Richmond, TX also. i have property managment experience too.

@Andrew Postell @Jason Million Thank you both so much for the advice. I really appreciate it. Basically, I can use the rent via signed contract from day one. I believe I can use 70%, correct? That is a percentage of rent that I can count towards my income that keeps popping up for me. From there, I hope that I qualify for a 75% LTV loan. I will take that money and pay off the seller financed loan and move on.

Thank you in advance for your help here.

I currently own two rentals in CT and a primary residence in TX. I obtained all three using conventional financing. I am going to be picking up additional rentals in CT soon via seller financing and will be looking to refinance into a conventional loan ASAP.

Do banks view a refinance the same way they do a purchase? Specifically, are they going to be firm on 45% DTI ratio like they have been for my other purchases? It was a bit of a stretch to get this last purchase pushed through and I am worried about qualifying for a refinance if they are going to just look at it in the same light as a normal purchase.

I fully understand they are only willing to lend about 80% LTV and that is fine. I am just looking for guidance on how to qualify for refinancing as I have never refinanced anything before.

Also, any advice on which bank to use would be great also.

Thank you,

Ryan Deasy

@Nick Breault Sorry I am just getting back to you now.

If it is not a dump and has clearly been well taken care of, you could get 850-900$ per floor. However, there are some people that rent by the room and make an absolute killing...........

I am a realtor and investor in the New Britain area. I actually own a multi-family on Wilcox Street, which is the next street up from Tremont. If you stay close to Allen Street you should be fine. I have had much success on Wilcox Street. There has literally been an endless stream of interested potential tenants for 4 years straight now. I have had zero problems finding good quality tenants that actually care about the property.

Keep up the good work! I have a successful rental close to CCSU, so this post is of interest to me. I actually am renting out by the room and have found much success with that. Clearly, this project of yours is different being that they are only one bedroom units. You will have no problem finding tenants. Any posts I make for available rooms is followed by an overwhelming response. Good luck!