James Conaway
Financing a apartment deal?
23 July 2018 | 18 replies
This is assuming a stabilized rent roll of 90% occupancy or greater.The lesser loan dollars of 1.25x Debt Service Coverage Ratio and 75% Loan to valueRecourse with a bank Non Recourse with an Agency loanRates in the low 4% to mid 4.5% range depending on how long you want the fixed rateClosing timeline of 45 to 60 Days.Most lenders will require recourse.2-3 years of tax returnsCurrent rent roll2-3 years of operating statements and the current year to date property operating statementsResume - Highlighting your real estate experienceSome will pull credit others will not10% post closing liquidity of the loan amountNet worth of about 1.5x the loan amount3 years of tax returns and all K1sI hope this helps.Jeff
Zachary R.
Owner Occupancy & Extenuating Circumstances
13 June 2018 | 4 replies
I'm now in a position where it makes much more sense for me to purchase another property for myself rather than pay monthly rent, while I have time to take on a house hack until we determine our future.My question is, and although my lender assures me that my W2 income (tech sales) justifies abilities to secure a large amount of financing, how have you guys approached getting a second loan without breaching the occupancy terms within the original loan.
James Lauer
New Construction Opportunity: Perfect Airbnb ??
16 December 2022 | 8 replies
Triangulate between multiple sources like 3rd party sources like AirDNA, Rabbu, and 3rd party PMs as well as manually looking at rates and occupancy of competitive STR listings.- Bank Loan: Make sure you can actually get 460K at 20% down at whatever rate.
Jason Thompson
Underwriting software or personalized excel sheet
19 December 2022 | 8 replies
After getting some theoretical rates and occupancy, I plug them into my custom spreadsheet curated for my client's needs.
Pedro Garcia
Are one bathroom properties worth it?
14 February 2023 | 34 replies
More rents, more likely to exit to an owner occupant with accompanying higher prices....
William Simon
Is It Possible To Scale With Only SFHs
13 September 2022 | 10 replies
Is it possible to take a DSCR loan on a multi-family property, in which I am also the owner-occupant?
Ashlie Perry
Hold or Sell in Salem, MA?
18 November 2018 | 1 reply
I bought my first property, as an owner occupant, in May of 2017.
Joseph Sangimino
Developing a Mobile Home Park
30 January 2018 | 12 replies
The houses in very close proximity to the property are mostly 150k+.Nearby Parks have good occupancy: Park 1 – 85/95 Park 2 – 35/36Park 3 – 38/42You’re right that a more in-depth cost analysis needs performed to annualize returns over at least the first five year.
Alyssa Paros
Can You Decline a person from Their Questionnaire Answers?
20 January 2018 | 10 replies
But I think it you make it clear about your requirements to be approved regarding income requirements, no smoking for any occupant, etc many will just not follow up with a showing or submitting an application and that saves you both time and will avoid you have to do anything that may or may not be legal.You could also arrange for a group of potential tenants at the same time to view the property at the same time so if the potential tenant does not get the message you have not wasted your time by showing the apartment just to the person whom you know will not qualify.
Darrell Bratton
Help me learn the process of short sales and REO for mult-familys
10 July 2018 | 9 replies
Try to avoid properties that have occupants.