All Forum Posts by: Shahrouz S.

**UPDATE** I am preferably looking for a non-QM full doc program primarily because the property is vacant and the projected monthly rent to PITI is ~0.6

Quote from @Kristen L Garner:

Hi Shahrouz, There are DSCR loans that offer no seasoning if you can show proof of rehab being complete. There are also some with 6 month seasoning where you don't need to show proof of rehab. Sounds like you are past the 6 month mark! The max LTV on a DSCR cash out is 80%. Feel free to DM if you'd like to run some numbers.

Thanks, Kristen. Do you have non-DSCR loans as well?

Hi, I'm interested in pursuing a cash-out refinance for a property I purchased in Mesa, AZ back in August 2023 using a hard money loan. I've been informed about the conventional loan's 12-month seasoning period, which restricts cash-out refinancing in my situation. Therefore, I'm exploring the option of obtaining a non-QM (Non-Qualified Mortgage) loan.

Please let me know if you have any contacts or recommendations for lenders who could assist with this type of financing. Thank you.

Hi, I have a property in Mesa, Arizona, I am considering leasing to an operator and looking for attorneys to review or draft a residential assisted living lease agreement. Please let me know if you know someone. 

Quote from @Jay Hurst:

Quote from @Shahrouz S.:

I have a renovated house in Arizona suited for residential assisted living (RAL). I was told I cannot do a conventional CASH OUT refinance once I lease it to an operator of RAL since lenders do not lend if you run a business in your house. Is this correct? If yes, what are alternative methods to tap into its real estate equity after signing a multi-year lease with an operator? 

 I actually do not think that is true:

https://selling-guide.fanniemae.com/Selling-Guide/Originatio...

Thanks @Jay Hurst!

Hi All, I am looking for an insurance agent to help with understanding the required/suggested coverage amounts needed for a residential assisted living as the owner NOT the operator. 

Hi, I have a fully renovated house in Arizona for which I am looking for a residential assisted living operator to lease to. How should I vet the prospective ones who reach out? And which terms should I include in the lease to be protected as the landlord?

I have a renovated house in Arizona suited for residential assisted living (RAL). I was told I cannot do a conventional CASH OUT refinance once I lease it to an operator of RAL since lenders do not lend if you run a business in your house. Is this correct? If yes, what are alternative methods to tap into its real estate equity after signing a multi-year lease with an operator? 

@Jeff Macey, I live in southern california and have been searching for a while but prices are way high. I am considering Texas, and AZ mostly for price points and being more landlord friendly. 

Fellow BP members, please mention the factors for each choice. TIA.