Institutional Borrowers (With In-House Capital Markets Team): We work with many institutional clients with 1,000's of units under management that have in-house capital markets teams.

Financing provided through this program is only available for properties located in Michigan or Florida.Available Product Type: SOFR 7/6 ARM, SOFR 10/6 ARMLoan Amount: $766,550 MaximumLTV: Purchase and No Cash Out Refinance - Maximum 99%Prepayment Penalty: NoneLoan Assumption: NoneEligible Properties: 1-unit dwellings, attached and detached condominiums, PUDsEscrow: An escrow account must be established for property taxes, and flood insurance, if requiredUnderwritingNo Private Mortgage InsuranceOccupancy – Primary residencesMinimum Credit Score - 700DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)Student Loans – If in deferment, no qualifying payment requiredDown payment of 1% must be borrower’s own funds, while closing costs and prepaids may be gift fundsAttached condominiums require a 10% down paymentEligible Borrowers – Protect and serve heroes are defined as employees of public or private education institutions, employees of medical and healthcare organizations, all first responders, and active or former military personnel.Servicing: Retained

Quote from @Patricia Andriolo-Bull: Quote from @Andrew Steffens: I heard previously that VRBO was going to institute this but I guess it never came to be. 

You'd be surprised how often a deal can happen using this strategy but it is also important to run the numbers and make sure your COC return, etc are in line with your expectations.Probably the lowest risk is partnering because a seasoned investor will verify the deal (hence their participation) and likely take care of the initial money required.

**Advice for Future Participants:**If you decide to join Renatus, focus on building a relationship with the head coach rather than relying solely on the marketers.

If it's a refinance, brokers or institutional lenders tend to have great terms.

I would not envy investors who participate in this vehicle when the team has not track record of success with it. 

I didn't meet anyone new that I ended up doing deals with.I have since participated in 4 MF deals. 1 person was met through MFM and 3 were connected through other mentorships.

I don't know if the main participants in this discussion deserve medals or need better hobbies...

Cash flowing at 5% down was possible about 3 years ago—but that ship may have since sailed.Now, you’re left with two options: you can either pony up more cash per deal, or you can potentially look out of state for markets with more favorable rent-to-price ratios.Or…you can wait for rates to decline, but I don’t know how much a 100 or 150 basis point rate cut in the next year will really move the needle.That said, some firms (usually new construction companies, turnkey providers, etc.) will enter into forward commitments with lenders at institutional rates and then pass cost interest rate savings onto end buyers to entice them to purchase a property.