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Results (10,000+)
Sharad Bagri How to transfer loan from individual to LLC
28 November 2024 | 10 replies
I disagree, I had a time when my name and the name on the insurance didn't match and the lender was all over it, regardless of the on-time payments.Your best bet is to refi into a commercial loan that allows the LLC (if you've already purchased the property), or close directly with a commercial loan / DSCR loan.
Justin Bradbury In the educational phase, looking for more resources
4 December 2024 | 6 replies
You will need down payment money, You will need cash reserves Money, you'll need closing costs money, and you will need to get a bank loan.
Jalen Greenlee Private Investor Refi or Suggestions on How to Move Forward
4 December 2024 | 2 replies
Last month, my wife and I purchased a fantastic duplex in Madison, WI, for $400,000 using an FHA loan.
Megan Little-Moran 1911 Home in Blackstone, VA
4 December 2024 | 10 replies
It was under contract when I inquired about it but fell through due loan issues.
Rance Smith Crazy Chicago real estate Journey
12 December 2024 | 19 replies
The price was 500k and we used a DSCR loan for the purchase. 
Drew Giltner Help me analyze this deal
5 December 2024 | 4 replies
I run sum numbers for you please see comments below before refinancing and post refinancing .If I were in your position, I would approach it as follows:Initial Investment Assumptions: Market Value: $360,000 Purchase Price: $360,000 Equity: $0,000Financial Breakdown: Hard Money Loan (LTV 100%): $360,000 Interest Rate: 10% (30-Year Amortization) Monthly Payment: $1,995Upfront Costs: Origination fee (1%): $3,600 Closing Costs (3%): $10,800 Renovation Costs: $10,000 2 Month of Carrying Costs During Renovation: $5,390Total Upfront Required: $29,790Total Capital InvestmentPurchased price $360,000 Upfront Costs $29,790Total: $389,790To make this investment work, you need to rent the whole property for at least $3,165/month, refinance it let say after one year with 5% interest with a traditional mortgage.Year One Rent: Monthly Rent Income: $3,165 Monthly Rent Losses during renovations (2 Months): -$6,330 (-$527/month distributed over 12 months) Total Rent Income: $31,650 per year => $ 2,638 per monthMonthly Expenses: Hard Money Loan Payment (10% Interest): $1,995 / per month interest only Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $292 per month Assuming 0% Vacancy first year Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $2,637Monthly Net Cash Flow: $1Post-Renovation Refinancing Strategy:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate your initial investment of $29,790 plus your 360k debt into a mortgage.
Glenn N. Hard money lender ,borrower moved his LLC to Delaware without notification.
3 December 2024 | 10 replies
The loan attaches to the property, not the LLC. 
Rene Hosman If you had one question for a professional house flipper, what would it be??
4 December 2024 | 25 replies
Quote from @Rene Hosman: @James Dainard I just took on my first flipping project and I used a hard money loan for 100% of the purchase price at 15%, I'm paying for the renovations in cash.
Roy Logan 3rd year Real Estate Investor / Landlord
6 December 2024 | 9 replies
Also, if you goal is to continue scaling, a real estate CPA could be a great resource for accounting and tools like DSCR loans can help your grow quickly, especially for cash-flowing properties. 
Nicholas Ansin New RE Investor (VT Based)
3 December 2024 | 8 replies
Going the DSCR loan route is a great way to scale your portfolio.