Reach out to actual lenders and get the facts.

By tuning in to the BiggerPockets Podcast and connecting with local lenders and brokers, you can build a strong network.

I have about 60K in Heloc money I could use to purchase land lot in the Red River Gorge of Campton KY, pay that land off with the heloc, then use that paid off land to secure a construction loan from the bank or PM lender for a new ground up build.

This investment property was financed through a locally trusted and long time friend that's a hard money lender with an 8.5% rate .I acted as negotiator, real estate agent, funded the purchase, and project manager for this rehab while partner was out of town working and kept him updated remotely.

This investment property was financed through a locally trusted and long time friend that's a hard money lender with an 8.5% rate .I acted as negotiator, real estate agent, funded the purchase, and project manager for this rehab while partner was out of town working and kept him updated remotely.

Would lenders make an exception with this?

Cold calling building owners, mailer campaigns, text campaigns, online community groups, lender referrals, live auctions. 

Thanks in advance Florida is a super lien state, so depending on when the condo was created the entire lien amount could be owed by the buyer or a portion (I believe lower of 1% of the purchase price the person being foreclosed upon paid or 12 months HOA fees, whichever is lower).Definitely will want to look into that.Chris, that 1% of the loan/12 month cap is only for the foreclosing lender if They get it back at the auction.

Hi Craig,If you own a majority of the LLC and you are the personal guarantor of the loans, lenders will likely include the LLC owned properties in your DTI calculations.

I had one lender tell me I need to get a construction loan first and renovate and then refinance that into a DSCR loan.