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Results (10,000+)
Carl Rowles Rehab Financing Strategy Help
19 January 2025 | 10 replies
Not reported on credit.
Brandon Vukelich 3-unit STR/MTR $107k NOI on $187k REV
29 January 2025 | 12 replies
If comps for a 3 unit property are in the 950k range, then that is what it will come in at.The revenue from the STR will have no bearing on the value of the property itself.People argue about it from time to time, but I spoke with 10 different lenders, banks, credit unions, private lenders, etc etc and they all said the same thing.
Kylie A. Buying In small towns
13 February 2025 | 25 replies
Often you can find these lenders with a mortgage broker or by reaching out to a local bank or credit union in the market you wish to buy.Cheers!
Brandon Cormier Off market Value add 4 family success!
24 January 2025 | 2 replies
Huge thanks to Bo Stevens from Jean D'arc credit union, for helping me get a solid loan with a 6% interest rate with a super smoothe process.
Andrew Thomas 19-Year-Old Real Estate Agent in Rochester, NY, Looking to Start Investing.
11 February 2025 | 29 replies
As a new realtor (and student) you probably make below 80% median income which might help you qualify.I work with Finger Lakes Federal Credit Union (for my primary) and Lyons National Bank (for my investments), both will probably be able to help you navigating downpayment assistance and your situation. 
Cristen Marcotte DO NOT USE STEADILY INSURANCE
19 January 2025 | 15 replies
am working with them now and had the first policy (with Spinnaker) cancelled for nonpayment/late payment so we rewrote another policy (with Millenial) and having the same payment problem again but at least they are communicating that cancellation is coming. they want me to pay by credit card over the phone so the payment wont be late and cancelled again. but when i go to mycoverageinfo.com to check on status it shows its been paid.
Daniel Dubeck Gap funding
28 January 2025 | 14 replies
There are also 'mezz' lenders (typically for larger transactions) who will cover up to 90% CLTV and require you to bring the remaining equity to the deal, and additionally there is Gap Funding in the form of unsecured personal debt.The latter can potentially be the most expensive option, but allows for true 100% financing as there are no restrictions for how to use these funds, as they are unsecured, and generally obtained through personal credit, income etc (since there is no collateral for obtaining these funds).
Joe S. Creating a note in order to sell it.
27 January 2025 | 7 replies
If your property is residential single-family owner-occupied in a good area, the buyer has good credit, made a good down payment, and twelve or more on-time payments have been made, you'll be in the lower range.Note buyers, just like lenders, won't go above a certain loan-to-value (LTV) ratio.
Loren Souers Best deal for first time rental purchase
19 January 2025 | 8 replies
Yes, that’s another credit union only asking for 10% down with no pmi.
Andy Wang Should I sell my note? 1.2M @ 8.5% for 4.5 yrs
27 January 2025 | 7 replies
Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option.