All Forum Posts by: Seth O.

Hi BP,

I'm looking for help finding a lender that is still doing DSCR cash-out refi's on investment properties. Hoping to pull at least 75% (ideally 80%) of ARV out of the deal, and wondering what the rates are looking like in todays market. The property is in Columbus OH and here are the details:

Duplex

3 bed/2 bath per side

Purchase: 150K

Rehab:153KEstimated ARV: $425K

Rental income: $1695/side = $3390/month or $40,680/yearCurrently owned free and clear

Any advice/direction would be greatly appreciated! Thank you!

@Simon Ashbaugh That would be awesome if you could pm his contact info! Thanks so much for your response Simon!

@Tracy Keffer That would be great if you can pm contact info! Thanks you!

@Jonathan Styer Thanks so much! I’ll check him out!

Hi BP, 

We are just finishing up a BRRRR in Columbus OH and I'm trying to find a good company to start the DSCR Loan process. Does anyone have any recommendations for companies that offer good DSCR loan products for investors?

Thanks so much!

Seth

 I appreciate the help @Muhammad Amawi! 

 Thanks @Jack Mawer. I had to google DSCR Loan, I know what I am looking for now! I appreciate the help!

Thanks @Eliott Elias, I hadn't heard of a DSCR Loan product so it's nice to know what I'm looking for! If you are able to PM me the contact of the lender you recommend that would be great!

 Thanks @Andrew Garcia I appreciate the response! I will send you a PM. 

Hi BP,

Earlier this year my siblings and I pooled our resources and created an LLC to BRRRR rental property. We bought a duplex for 83k cash, put in about $220k in to fixing it up. Now we are looking to do a cash out refi to get back some of our funds for the next one. However, I have spoken with a few lenders and they have both said they can't do a cash out refi for an LLC until we have 3 years of business income to show. Has anyone else had this problem. Can anyone recommend a lender that can do a cash out refi with a new LLC?

Thank you for any help!

Seth