All Forum Posts by: Tanner Lewis

Hi Douglas, I am currently closing a deal on a portfolio in Topeka, Kansas. With this deal, we are wrapping all the properties into a portfolio and underwriting them with one loan for a cash-out refi. It is a simple process and not too different from lending on an individual property.

If you are interested in connecting, feel free to DM me and I'd love to help you with securing financing!

Hi Tripp, I can help qualify you by using your trailing twelve-month booking history or with AirDNA projections, but what route we decide to go with depends on how many other AirBNBs you have and how long you have had the property you are seeking financing for. Feel free to reach out to me with any inquiries!

I can help you secure lending for both the bridge loan for the rehab and a DSCR for the cash out refi. Let me know if you're interested!

Many lenders are following suit with the new Fannie/Freddie seasoning requirements increasing from 6 months to a year. Some private lenders, however, may still offer cash out refis on 6-12 month seasoned properties, but have requirements as to the amount you can pull out. 

Feel free to reach out if you have any questions!

I wouldn't look for a lender in a particular region, but just apply with lenders on BiggerPockets. Many of them lend nationwide and offer similar rates, but separate themselves with differences on lending qualifications, time to close, reputability, etc

From what I've noticed, it has been a lot of the markets that are overly saturated with inventory. Given this, if you are planning on securing lending with AirDNA Projections or TTM actuals, it may still be a good defensive strategy to make sure you hit your minimum DSCR threshold with your LTR projections as well in case you need to rent long term amidst this market.

If you are interested in learning how to use STR income to qualify for lending, feel free to shoot me a message!

One of the best ways to ensure that a deal is not "too good to be true" is to put the property under contract and begin to work with an experienced lender. Private lenders act as a quality control to verify that each investment is viable, as their business model is dependent on you being able to make payments. 

To address your "no money" roadblock, you could partner with another investor or negotiate seller financing. I would also take a look at The Book On Investing In Real Estate with No (and Low) Money Down by Brandon Turner

I would look to partner with someone, especially if you have good credit and resources. Possibly act as a more passive investor with your partner doing more of the leg work.

I have some contacts outside Danville, VA that farm timber and are always looking to buy especially if it is in the same area. Shoot me a DM if you are looking to connect!

I currently use QuickBooks as treasurer of my fraternity (yes not directly for real estate), but it is very easy to use especially if you operate your properties like a business. Most of my transactions are categorized automatically with the use of formulas so I only need to review transactions every couple of weeks. Invoicing is also very easy and you can do it through their platform as well. 

If you are looking for a local bookkeeper, I also use ACP Resources located in Midlothian, VA and they specialize in small businesses and non profits. I linked their website below, and if you want me to personally connect you with them just shoot me a message.

https://www.acpresources.com