Jefferson Harmon
Question regarding my options
19 October 2022 | 15 replies
cash-out refi is not a bad way to go, if the property debt covers with a tenant in place. but as @Caroline Gerardo said, this could be a pricey solution if you don't intend to keep the property long-term, as you'd be paying points to obtain the loan, which may have a prepayment penalty. just to throw it out there, i do have one lender for properties in CA or TX that is allowing for fantastic interest rates on DSCR with NO prepayment penalties (i think they start in the low 6's)... its a 6 month ARM, so it adjusts pretty aggressively, but something LIKE this could be a good fit as a short term solution until you have better traction selling the property. there are options out there, but its all a trade off.
Jack Vu
Need Help Analyzing BRRRR Deal W Rising Rates
18 October 2022 | 5 replies
For the second question, 9.5% is quite high from what I am seeing on my end, however, we provide DSCR loans as ARM products so those will typically be cheaper to lock in.
Benjamin Furney
Small banks in LA for duplex loan
19 October 2022 | 8 replies
Like maybe banks that are doing ARMs?
Ryan Terrell
Underwriting major Rehab of 90 Units
21 October 2022 | 8 replies
Do you know how to attract the different renter classes, unit mix, overall offering, etc.. to not overspend or underspend.Can you get supplies and labor in time to finish as required by your lender.You will most likely need to come up to current code for your area...Will you need security onsite to keep materials from being stolen, will they need to be armed (for their own safety) (different price points here).Have you talked to an Architect who does larger multi-family re floor plans, and etc...?
Jeff Collier
Renting to Property Manager?
21 October 2022 | 3 replies
I'd like to use a BP lease agreement as the baseline, as I think it would be best to keep this scenario at an arm's length from the property management services as much as possible.For what it's worth, I do think this is a positive arrangement and will be beneficial to both of us.
AJ Wong
When there is blood in the streets..
22 October 2022 | 5 replies
Lastly, commercial interest rates are about 2% under the conventional rates, and in the conventional market there is a bunch of new programs to buy down the rate, ARMs, or seller pay 2-1 buys down.
Sanat Bhandari
Delayed Purchase + Rehab Funding?
22 October 2022 | 2 replies
You might want to look into doing a hard money/bridge loan cash out refinance, make the repairs, and rate and term into a DSCR ARM.
Ty Crumb
2 Family - Off Market Purchase
21 October 2022 | 0 replies
Local Bank - 7/1 ARM How did you add value to the deal?
Tyler Hodgson
Self Storage Development - Houston, TX
22 October 2022 | 0 replies
25% investor equity (accredited investors) 75% construction financing (5/1 ARM) What was the outcome?
Tyler Hodgson
Self Storage Development - Houston, TX
2 November 2022 | 1 reply
25% investor equity (accredited investors)75% construction financing (5/1 ARM) What was the outcome?