All Forum Posts by: Timothy Hero

I can't say much on MHP, since I don't know much about them. I know DSCR lenders typically don't touch them.

I've never seen 90% in 7 years of real estate, let alone in a market where the treasuries are at 20-year highs.

I've brokered over 325 DSCR loans. I can help with the refinance to pull equity out, but no the purchase, as 99% of the industry won't finance mobile homes.

Yeah, after brokering 300+ DSCR loans, I'm finding they are good for 1-4 units mainly. Sometimes a 5-10 unit DSCR loan is solid terms, but I'm quoting 7.4% ish for 5+ unit, DSCR.

Having brokered over 320 DSCR loans, I may be biased, but go DSCR, lol.

The last 12-18 months have been a little rocky in the DSCR space for 5+ units. I find DSCR most lenders are 8 to even 9% for max leverage on 5+ right now. I know of a lender around 7.3%, but curious what everyone else is seeing.

Keep in mind, we're talking DSCR, not conventional.

In this market, I'd question what's the catch. Unless you're buying it at a deep discount, no $280k home rents for $2,500. You typically need to be in the $400-450k range to see those rents.

Sorry if this was already asked, but what's an average return per year, in terms of cash flow? If I live a busy life and don't have the time or care to invest on my own, but want to put, lets say $200k to work, is a 15% cash flow return reasonable?

While less than 10% of the mortgage industry offers 40-year mortgages, here's something to factor in: they often come in with a rate increase of 20-35 bps.

Assume 35 bps.

$300k mortgage at 7.25% (30-year): $2,046

$300k mortgage at 7.6% (40-year): $1,996

Technically, it lowers the monthly, but not by much once factoring in the rate adjustment.