All Forum Posts by: Tyler Carter

Thanks everyone. Never used a DSCR loan in the past and have always understood those rates to be higher by a point or two in most cases. Sounds like if I stay conventional then my best rates will no doubt be the 25% down options. This is what I have done on all my other rentals, but am trying to maximize my cash to buy multiple properties. Thanks.

Recently completed a cash-out refi and want to take that money and buy 2 additional properties (~$200k or less each).  Currently have 3 rentals and conventional lending has been my norm, but all the local lenders are predominantly 25% down.  Some have a 20% down, but the rate rises significantly.  Great credit scores and plenty of income from my W-2 source.  Are there decent 15% or 20% options out there for purchases in Alabama?

Thanks everyone. I have had the SFR investment for about 6+ years now so seasoning shouldn't be an issue. Also, great reminders about prepayment penalties as I figure I might want to refi this one again in a couple of years. Current LTV on the property is about 40% and after the refi would be ~70%. Thanks again for the suggestions

I know there were be slight rate and point differences, but is there anything else that makes one Refi option better than another for Cash Outs?

Dean, yes. If the property isn't financed then that is probably not as big a deal - Check tax implications and know there are other LLC rules to follow. If it is still financed then that is where the issues start in my case. The mortgage holders may call you to pay off the mortgage (refinance) if the deed is moved over to a LLC. Considering a lot of my properties still have sub 4% rates, that is not something I am crazy about at all.

Nathan, thanks a lot.  Your thinking is exactly how I have been operating for the last several years.  I do have an umbrella policy for many reasons to include my rentals.  Additionally, my strategy isn't slum lord investing.  I invest in mid to upper-income areas where good credit scores and high earners aren't hard to find.  I can pretty easily find good tenants and screen them myself.  Thanks for the thoughts and appreciate you taking the time to respond. 

Hello, I have several long-term rentals that are all currently in my name. They all have mortgages in my name as well. I keep hearing it is smart to "move" these to a LLC, but how exactly do I do that? I know how to create a LLC and I understand the benefits of such a move. However, the mortgages are in my name. Any insights here would be great. Thanks.