I am happy to make an introduction and share our experience as a national brand with the Jacksonville market.

Hi Iris, I work for a nation wide mortgage lender and we do DSCR loans as low as 75k.

They are going to take it from here and see it through entitlement to sell the parcel to a national homebuilder. 

Once we acquire the last 2 properties we will shift from acquisition to debt paydown.It sounds like you have a model that’s working good for you. 

This is why huge nationally scoped/wall st back or securitized hard money lenders will have a hard time dominating the this very segmented market.

@Frank Alfano agency debt is very competitive (75-80 ltv, non-recourse, fixed-rate etc); you can syndicate and raise the equity portion needed from friends and family, provided you can market and lead the project.

A deal may have a good cap rate, but when you factor in repairs, acquisition costs, and debt service, you could still be under water. 

It is something that gives you the leverage to make more money and have the ability to not pay the debt on it monthly either (your burn rate on it). 

FYI - not legal advice.If it's not a formal assumption and it's a straight sub-to, typically the seller remain personally liable for the debt if the investor defaults.Essentially, what can the investor do better than the seller after refinancing the property? 

This eliminates ALL the interest on that property, and uses the monthly payments you were making on it to help reduce the debt on the other quicker.