Having a lower purchase price will result in lower insurance rates and property taxes.What do you think?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.PM us if you’d like to discuss this logical approach in greater detail!

The net result to the seller(s) is the total price less the concession.

Any approved loan application would be the result of misrepresentations which is fraud. 

Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

As a result (at least in my area) most appraisers rush this process and give something like 112% value for remodel- which is utterly ludicrous, as our remodels are enormously leveraged and should give closer to 300% value.And with these ARV based DSCR programs, you need a high ARV dollar amount, or else they further drop your LTV.

Here are my general thoughts (gonna try and approach as objectively as possible):1) Having a VA call for your CAN work, but a few requirements need to be in place: a) you need to have a proven system for them to plug into (solid lists, proven offer and results), too many newbie investors are afraid to call and think that hiring a VA is all they need to do.

For example, in Tampa Bay, I know I can sell a property all day at 80% of ARV minus repairs, so my offer would be that result minus my fee.

That’s also a very interesting and very helpful perspective on putting more down because with the rates being so high right now, it would be hard to match 8-9% in gauranteed returns.  

Title company started title search and while waiting for results (we knew there were multiple liens that would be paid from proceeds at closing), I paid off property taxes so foreclosure was stopped after seller signed the warranty deed over to me in front of a notary.