we have to have pre sales my bank will only give me a certain amount of spec loans but unlimited amount of pre sales. its the only way to keep velocity when you have a larger project like us ( 90 homes) We have been blessed no questions about it.. we made some critical decisions when we started that now look like genius moves :)

MLS-listed deals are a bit harder to find, so investors here have had to get more creative in sourcing deals either through their own hustle (door-knocking, website, direct mail, driving for dollars) or finding good wholesalers to feed them deals. 

A lot harder to get significant cash flow with those compared to when rates were 3%.Small to mid sized multifamily you can still get cash flow for turnkey stuff with a 20-25% down payment in C and some B areas.

I've been in the lending industry for 5+ years now both as a loan officer and a broker and a processor, have also done some UW.Over the years, I have seen how lenders and brokers spend marketing dollars. 

One priced at a million+ dollars, or one priced at $400k? 

Commercial mortgages are really DSCR loans.

Here on planet earth it takes longer than 5 hours to do that job and people who do consistent work don't work for $2 dollars an hour.

Is that eligible for an SBA loan? 

Hi Stacie, Have you looked inot DSCR loans?

I just wanted to share a little bit about the area, because I feel it flies way under the radar for many investors due to it being small and outside of the city.