Do you have recommendations on how to find lenders who are willing to work with first-time investors on rehab projects?

You have a “full” package including property(s) identified, acquisitions under contract, appraisals performed by MAI appraisers, historical financial statements, pro forma projections, surveys, title reports, feasibility studies3.

These larger projects are going to have a lot of steps.

Thank you  Using a LOC on your primary residence can work well for flips if the terms are favorable and you’re confident in managing projects efficiently.

Loan administration can have a huge impact on how much cash is required to advance projects.

I love house-hacking for Tampa Bay for a few main reasons: 1) great long-term outlook on appreciation; fundamentally strong market and growth projections, 2) diverse opportunities of house-hacks from luxury house hacks, cheap house hacks, room by room, STR, MTR, etc. 

Once you've gained enough experience, you can transition to more BRRRR projects.

They offered to provide projections or a pro-forma.

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

Although we do have deals on the lending side that dont work but we are not forced into a position to take big loss's like we were when the banks were calling our loans.. this will happen in the DSCR world as all these folks are using same type of debt IE debt that can be called based on the terms of the debt or like you have seen with the syndicators that are talked about on BP max leverage bad debt things dont go right And you have cap calls or projects totally lost.