All Forum Posts by: Tanner Lewis

Hey Jacob - do you mean phone number and email? 

True but on thing to note: the AirDNA projected income qualifies a deal, but we do not value it off of the rental amount.

 Bridge cash out is a great option, especially if you cannot access the property bought at auction prior to closing. 

The cross-collateralization would likely need to be in the first lien position if you want to use this strategy

Most DSCR loans only have seasoning of 6 months. There are some products out there for 3 months seasoning as well.

Hey Amber - is this currently operated as a rent-by-the-room?

Don't do 100% financing!!!! That is way too overleverage, and if a lender offers that to a first-time investor, you will be ripped off with rates and points. If they require an appraisal, they will likely cut the loan amount, too (standard LTARV is 70%). 

Most hard money lenders will do 80% LTC with 100% lender-funded rehab for first-time investors.  

You can do this as a hard money refinance. It's not super complicated, but you can pull out cash to rehab the deal and then put it on the market with no prepayment penalty. 

Batch Skip Tracing is easy to use and accurate

DSCR loans are actually a lot easier than conventional loans! There is no need for tax returns or paystubs, and the closing timeline is about 30 days. Rates are also in the high 6s at the moment.