@Diane Valencia I have several Out of State investors who have needed to move their rentals from USAA as they are not competitive on these policies. 

In this competitive market, everyone is competing on a level playing field and at the end of the day it'll come down to who you're most comfortable working with.

Unit sizes, unit rental prices, current occupancy, competition in the area, condition of the buildings, taxes, etc etc etc.. 

They are sometimes easier to obtain though and interest rates can vary to being competitive with a bank to as high as a HML.Hard money lenders are a good way to get started but the rates and terms can be very steep.Hope this helps.

Make sure you have a realtor that can evaluate comps and make sure the numbers work for you.You can always refinance at a later time to remove the PMI, especially if you add value to the property and increase rents.Conventional multifamily will typically require 15-20% down and rates aren’t as competitive as FHA.

Hello Paul,First of all I think the Colorado Springs market is an excellent place to invest, but there is also a lot competition that comes with the territory as an agent.  

Because most lenders will require a minimum DSCR of 1.20x this loan is eligible for competitive financing.For example, NOI of $500,000 with debt service of $400,000 would equate to a DCR of 1.25-to-1

The interest only payments are fully tax deductible in most cases too.More Competitive Rates with Lite Doc Loan Qualification - Many ARMs are lower than Non-QM and Private Money rates right now.

There are some HMLs that will lend against the ARV, and in some cases effectively lend 100%, but as you can imagine, these are few and far between, and usually only in very competitive markets for HM, and of course, they are much more expensive. 

I was sick of losing out on deals for existing buildings, so I opted to by land to build new (less competition) How did you find this deal and how did you negotiate it?