How long must you wait before being able to rent out a primary residence property from a lending perspective?

Banks will be reluctant to lend you and other buyers/borrowers a mortgage for a building like this as it is seen as high risk.

Has anyone used Backflip lending to fund a fix and flip?

Mortgage lending is highly competitive, and there are many newbie loan officers that will bend over backwards to get you to pull a credit report and pay for an appraisal.

Highlights:* no prepay on 12 mo bridge* 6 months guaranteed interest on a 24 month bridgeThese are interest only loans and the DSCR calculation isn’t a factor in the lending decision.Compare the cost of your lower interest rate DSCR loan, including PPP versus what the bridge would cost at a higher interest rate and no or minimal PPP.PPP=pre payment penalty :)

So first of all make sure you’re not dealing with somebody clueless like that because they would be considered high risk to lend money to.

@Tisha Cole also beware of the followingI lost over $80K with McMann Commercial Lending and Genie Investments.

We created a syndication and raised 1.500,000

Most primary residence lenders are not going to lend in second position for a purchase.

@Mark Thiel This is not legal advice but I think most LLCs are overrated unless you are required to have them for lending like with many DSCR loans.