I recently purchased a rental property and discovered it needs more extensive repairs than I originally anticipated.

. :) We are very competitive our products. 780 score ,25% down DSCR rates 6.875%, 30/30 Interest Only, $5027 IO, if 5 year prepay, No points.

We don't have the means to buy, we've been working on our debt to improve our scores but not enough to qualify to buy without a co-signer.

You'd likely be looking at rates in the low to mid8's depending on your credit score if you were to go with the 15% down.The higher LTV loans can be found in bridge loans and rehab loans since they are short term and often the value of the property increases so lenders can scale off the ARV.

I never did hear back from the owner who I reached out to originally to get his plans with the property and what rent rolls could be and current/future expenses on the property, etc.

Hi Jake,I love the Louisville area & originally from there myself.

The house sold as a three bedroom at I believe was $18,000 dollars more than it was originally listed for.

A local bank approved me a 200k home equity loan at 7.5% at $1,447/mo and currently talking to mortgage originator about refi options.

I'm originally from San Francisco and started off as an out of state investor back in 2021 with a single family home. 

As of July's Broward county YoY report: Closed sales up 7.5%Median sale price up 4.2% Original list price received down only 1.5% to 96.3%Inventory and median days to contract up 50% Inventory and months supply up 56%As far as a 20% price drop we are still going in the opposite direction down here.