All Forum Posts by: Stephanie P.

I did get a qute the other day at 6.89% but the fees i thought were high. 2 points and $2k fee for the loan. So $4k in fees. But its also my first DSCR loan. Maybe i am getting a good deal?

 Are you familiar with the creative financing route that i mentioned? No credit is needed. My plan to purchase a home wouldn't be the traditional route. 

I find it may be pretty easy to qualify for a DSCR loan with good credit score and lots of equity - or so
I'm told. I'd like to find a good private/direct lender because brokers may not know what the lender
will accept until you submit everything. I keep reading loan nightmares on TrustPilot.

Can anyone out there recommend a direct lender whose forthright and has good
pricing that you've dealt with and it all came out good? THANKS!

Hi everyone! My name is Dean Halpin and i'm currently a wholesaler/investor in the El Paso area, and i'm looking to buy my first ever rental property, but would definitely need some assistance in the process. Pace Morby is the guy i look up to the most when it comes to creative financing, and i was wondering if i could meet up, or hop on the phone with somebody who knows the game pretty well to grab some advice. 

-I'd rather not go the traditional route with buying just because my W2 isn't exactly the most stable and i'm a full time college student. Any advice would help, thanks!

Hey guys, I’ve been building a portfolio for a few years of commercial and residential properties, it’s been goin great so far until I feel like I’m running out of cash to buy new ones, currently I’m flipping some properties one at a time to make money to buy more rentals, my problem is when I’m done rehabbing I feel like I want to keep them and rent them out! Everything I have is paid off! What’s the best way to pull my money out of them ? I wanna buy a big multi family project! 

I'm an expat with a good salary paid in euros, already owning three properties in the Boston area and holding two mortgages. I'm looking to finance a fourth property. I have no W-2 income and have been advised to consider DSCR no-ratio loans, but current rates are in the low 9% range, which seems high. Are there any other mortgage options available for someone in my situation?

I have used Launch Financial (NOT A DIRECT LENDER) (I posted my thoughts on these guys here if anyone is curious). The DSCR lenders who wrote the actual loans are Lima One and Deephaven Mortgage. I do not want to continue with Launch as a middleman, but when contacting these lenders directly, they won't work with me- I get referred back to Launch.

Anyone have any experience with DSCR lenders themselves? Would be great to get some feedback!

I'm purchasing a home in a suburb of Cleveland with Hard Money.  My original intention was to flip the property and use the proceeds to help purchase a small multi-family home but am now considering holding the Single Family property as a rental.  

The Hardmoney lender will need ballooned out at 91k in 12 months.  I will not be able to do a cashout refi with a conventional lender for 12 months, and although Fannie and Freddie require a 12 month seasoning period for cashout refi's, it seems most convetional lenders, even in a straight out refinance (with no cash out) require 12 months as a policy.

Does anyone have any recommendations for long term lenders that will balloon me out on a long term loan?

ARV for the property will be about 150k - possibly 170k if converted to a 3 bedroom which is an option I'm exploring.

As they say, Thanks in advance.

 LOL...sell a loan in the secondary or underwrite one once in a while and you'll see what i mean. Read a regulation or seller servicer guide once in a while and you'll know what i mean. Oh, maybe just read the CFPB definition of conventional loan? You probably will still not know what i mean.