Hello everyone, I am looking for a lender to provide a second lien on multiple single family rentals, but which is not based on personal income.

Based on reading recent insights from Start Packing Up and Jax Daily Record, there are indicators from January of this year that Jax's real estate market has been going through ups and downs.

Profile:Investor owned LLC -LLC owns 5-6 properties-Investor normally takes every legal write possible so LLC DTI is high-LLC normally has an annual paper loss wInvestor Personally- Investor owns 2-3 properties not in the LLC-Equity in property 1 is over 70% and equity in others are around 50%-Investors personal DTI is around 15-18%Based on what you see above, the investor would like to tap into the equity in one of the above personal properties. 

@Seena NassiriI'm based in the Bay Area with a lot of clients that own rental properties out-of-state so I think I can answer this question with creditability. 

You’d have to look all the way to Nevada to have no state income tax, lower property taxes and insurance, no weather related issues and a young property base.

I can see why some lenders wouldn't like it since it would cut them out of a deal, but I would guess this is a very niche market based on downpayment size to make up the difference.

Wish it were true, but every lender bases their rates off of Sofi or 10 yr Treasury, etc. 

If the property has publicly serviced sewer, which is most times billed based on the number of gallons of water used, by using sub meters, we now have the information we need to pass along the sewage charges.

Also localities regulations may vary, as we only have to have smoke detectors on every floor.   

I don't even know if a Japanese resident can get a mortgage on a commercial property that's not based on his/her personal income as the value of the asset is at a high risk of depreciation and the LTV would increase over time and go over 100%.