Instead, they typically provide cash for a percentage of your home's value (usually up to 30%) in exchange for a share of future house price appreciation.

I don't like Hartford for a few reasons- rules and regulations being placed are not in favor of landlords, that coupled with high property tax is what turns me off. 

So, if things do go sideways, it's much harder to negotiate your way through.And, provided your loan is structured properly and closed with a competent title agent, I see no greater risk working with a private lender than with a traditional one.

There are definitely pros and cons to each so I figured I would just lay out a few benefits and personal thoughts: Small banks/brokerages:Pros:- Some regional knowledge of the market- Possibility of more creative lending guidelines with bank specific programs- Sometimes they have competitive rates for their areaCons: - weak balance sheet (more strict on some guidelines, no wiggle room, inability to be flexible or grant exceptions because they cannot afford to hold less than perfect loans)- Can't scale with clients to different markets- Usually limits exposure to individual investors (they don't want one investor to be too big of a portion of their balance sheet)- Lack of experience with multiple solutions (tend to have 2 or 3 loan products they sell and are too niche to provide tailored solutions)Large banks/brokerages:Pros:- Large compliance departments that understand individual market guidelines (typically each state has specific lending guidelines that augment the national baseline)- Ability to scale into multiple markets with same lender (licensed in many states)- Impossible for individual investors to "outgrow" a large bank's balance sheet (not concerned with one investor's concentration)- More lending solutions available for different scenarios- Often comparable or better rates given the game is volume basedCons:- Can be more difficult to get fast responses if the bank/brokerage does not have good follow up systems in place (or if the underwriting/processing staff gets overwhelmed)- Bad large banks can feel less like a relationship and more like a cog in a factory (less personal)Overall, I have worked from both and worked with both as a loan officer, branch manager, and as an investor/client myself. 

You need a website.. but then again... you would be competing against these guys at WeBuyHousesInConnecticut... and damn I hear there is no one better at SEO and lead generation and credibility than those guys.

If that is enough to pay off your investor and remaining repairs, it may work for this.You can borrow less than the 70% if you don't need it, but they would have to be the only lien on the property so you'd have to borrow enough to pay the investor as well.  

Hi Joseph, you would have to get the specifics on this particular DSCR pre-payment penalty, but they usually apply after there’s been a greater than 20% principle reduction. 

Reality is that these rates we have had the last couple of years were historically low.  

I know there are many property management programs available, but I feel these are geared more toward operating the properties rather than tracking a portfolio.

Closing this Monday* less than 30 days from introduction.