All Forum Posts by: Seb Ko

Some great insights on this thread - thank you all. I do have a question though when scaling your portfolio and using bank financing. Is the rent from these rentals (all or 75%) being used as part of the debt ratio calculations by the banks? Do you have to own a rental for a certain period of time before the bank considers the rent?

I have an attorney in Chicago who helped me with this in the past. Message me if you'd like further info. 

Hi everyone. I understand most lenders will only lend with a traditional residential mortgage for up to 4 units only. Does anyone know of any lenders that work with 5 or 6, especially if it's owner occupied?

Hey friends, from your experiences what do lenders look at when assessing value of a reno'd property? Is it just rents, or do they look at the work that went in (pictures, receipts, etc)? Are there steadfast rules (ie. they won't highly value a SFH into a Duplex, etc?). Seems like this is a big part of the equation here but can't seem to find much out there. Thanks.

Hi Ming, appreciate you coming on here to answer questions and share insights. I have a few questions on refi. What are general requirements for refi, and do they differ across lenders? Are there steadfast rules that banks/lenders follow when refinancing a reno? For example, I read somewhere that going from a single to a duplex won't qualify for any refi. Appreciate any insights here. Lastly, does it matter the loan is under personal/residential or commercial in terms of refi?