Use commercial/portfolio loans instead of trying to get conventional Fannie/Freddie financing.

I have purchased 2 properties with conventional mortgages through Centier bank, but can’t seem to get any info from them regarding a refi on a BRRRR deal, so I figured I’d look around and see what else is out there.

I ask because I’ve read they are easier to financing for and since my business is only in its 2nd full year, I’m having a hard to getting approved for a conventional loan, even though my credit and past 3 month bank statements are more then enough for small loan I’m trying to get.

I ask because I’ve read they are easier to financing for and since my business is only in its 2nd full year, I’m having a hard to getting approved for a conventional loan, even though my credit and past 3 month bank statements are more then enough for small loan I’m trying to get.

About a month later he refinanced traditionally with a bank and got himself a conventional loan.

Local Legislation, tenant pool quality, tax legislation, natural disasters, job market growth, saturation of real inventory, and real estate market disruptions through innovation are a few of the things that you cannot control.

(Currently set up for a 5% down conventional loan) Any help would be very much appreciated.

I never dealt in Miami, but if Supreme Lending has an office near you, that would be a good place to start, we used them in Palm Beach county.A couple of observations though:STR’s in Miami Beach are Highly regulated, permits required, Most condo associations do Not allow them and the ones that qualify for str’s are highly priced.You are going to need at least 25% down, along with closing costs and any rehab money will most likely be out of pocket for an investment property.Many of the condos that you can do this with will be in buildings where the unit does Not qualify for traditional conventional loans, due the higher percentage of rental units verses the number of owner occupied.  

If I leave, do I then need to convert it to a conventional loan?

We are seeing a little extra inventory on the south shore, but mutli's are still in demand.