Hello all,
I'm looking to buy my first multi-family. I have a large lump sum saved in an investment account for down-payment and any additional costs. I currently have no debt and make under $100k a year. Because of ...

I use credit cards, write checks, and pay in cash.Each situation can dictate the payment type. 

Placed another 8 unit portfolio under contract in early March, unfortunately contract expired on April 23rd, couldn't secure favorable loan terms that wouldn't allow portfolio to meet cash flow numbers because banks changed lending practices due to Coronavirus pandemic.

The caveat is that until the loan is paid back, you must put it in LT rental at capped rents.

I'm skeptical about it working in the situation you describe.

I imagine there is not much of a relationship with the turnkey service after the sale and I would deal with the PM and Loan company directly. 

It’s a bonus if the bank offering the HELOC also handles BRRR loans — they’ll be more flexible and accommodating when it’s time to pay off the HELOC with a new loan!

The key would be making sure to talk to a local banker that can do CRE loans for owner occupied properties as not all banks do them.

Hi Dean - we had access to a DSCR product until a couple weeks ago - it's currently paused, per my conversation with one of the loan brokers I work with. 

Are there specific lenders or servicers that are more likely to call these loans?