Hello, I am new to investing with 3 SFHs in Cleveland. They are all conventional loans. I am considering consolidating them into a DSCR portfolio loan with my LLC, so I have just one loan. Any recommendations on a potential lender that is versatile in this product or something similar
I’m buying 20-60 unit apartment properties in Lorain County and west Cleveland, and I’m looking for a lender that will let a seller-financed second reduce the cash I bring to closing. I’ve seen a lot of creative finance deals done with 5-10% down where the seller carries part of the price, and I’...
Hey all, looking for some real opinions here. I have a borrower in Boynton Beach, FL with a 4-plex. He bought it two years ago, fixed it up himself, and now it's fully rented. Current loan is 7.5%. He can refi into a DSCR loan now and pull out about $60k in cash to do his next deal. DSCR comes in...
When evaluating an investment property, most investors spend a lot of time looking at rental income, expenses, and potential returns. But financing can have just as much of an impact on how a property performs, and sometimes there are options worth exploring beyond the standard loan terms. One of...
Mr. Patterson submitted a loan application to finance the acquisition of a small apartment building. The purchase price was $800,000. The building was fully occupied, the tenants paid regularly, and the projected return was unusually attractive. The junior analyst reviewed the application and rec...
In Jefferson County, KY right now there are 153 multifamily buildings for sale. 38% have cut their price, 69% have been sitting 60+ days, and September sales closed at 90.6% of original asking. Put that next to the $875 billion in commercial loans coming due this year and you've got owners with a...
Hey there, I am currently acting as the buyer closing on a custom land contract for a single-family home located in Portage County, Ohio. To protect both parties and keep everything clean, we want to use an independent third-party servicing company to handle the contract's ongoing administration....
What are some of the most creative seller financing terms / options you have done to get a deal?
I've noticed something peculiar about the way people spend borrowed money. Give a man $500,000 of his own savings, and he'll think twice before spending $20,000 on something unnecessary. Give him a $500,000 construction loan, and suddenly $20,000 doesn't seem like much money at all. After all, he...
One thing I see newer investors miss on investor loans built for rentals: on this type of file, the property's own rent carries the deal more than your personal income does. Bottom line: the lender looks at whether the rent covers the full monthly payment on the property (mortgage, taxes, insuran...
Hey everyone, I'm new to BiggerPockets. I'm looking to connect with other investors in my area, central Nebraska and the surrounding areas. I'm looking for suggustions or recommendations on a title company and or an attorney who's familiar with creative financing. I'm currently working deals in O...
Hello, I'm purchasing a FSBO, $485k purchase price in florida, single family, investment loan. Seller is fine being in second position to the bank with a $95k note, interest only, 7 year balloon, no PPP. Current bank i'm talking with offers great rates but still wants 15% down of my own money. Lo...
Hello, Looking to hear from owner's that have done a seller financed deal or knows of someone that did and what was the outcome, good or bad?
I recently refinanced a property purchased subject-to, paying off the original mortgage and the 2nd position. The mortgage servicer issued an escrow-refund check in the original seller's name, but the seller is unreachable. I have a notarized POA. However, banks won't accept the check. Has anyone...
I have some questions about the Morby Method Hi everyone I have some questions about the Morby Method. I have an idea of how it works using sellers in second position. If I wanted to hold some money from the loan for repairs or incase of something, how would that work? I kind of have an idea but ...
Hi all, Rob here, a Louisville agent who works mostly with investors. Two people want the same house. The seller can't drop the price. The buyer can't get the loan. Not this year. A lease option doesn't need anybody to give. It needs time, and time is the one thing both of those people have. A le...
I currently have a house for sale in Soldotna, AK. Currently listed for $289,000 it’s a 3bed/2bath 1000sq ft. Can you tell me what you all think of this? Lease Option Payment $75,000 Monthly installments: $1500 Term: 3 years 50% of payments go toward purchase price
SBA 7(a) and 504 loans are what we see as the workhorse for owner-operated care homes. They go through participating lenders, since SBA doesn’t lend directly, and 7(a) tops out at $5 million. The uses that matter for an operator are real estate and buildings, working capital, and a change of owne...
What types of financing are working best for you right now when a deal is a little tight on cash flow? Are you finding better results with DSCR loans, adjustable-rate loans, seller financing, interest-only options, or something else? With rates and expenses where they are, I'm interested in heari...
I’m curious how many of you have successfully scaled your rental portfolios from just a handful of doors (let's say around 5) up to 20+ units while relying almost entirely on DSCR loans. DSCR financing has become a go-to option for many investors because it focuses on the property’s cash flow rat...
My parents have a property in San Francisco currently doing a major $700k+ remodel, including addition of a legal ADU, making a SFR into a legal 2 unit property, likely appraise for over $2 mil in a few months. These 2 units are rented out to family at way below market rent, but to recoup the rem...
What have peoples experiences been with creative financing? What has worked well? What has not worked well? What advice do you have to someone considering creative financing?
Hey guys, need help finding a lawyer. I bought a few rentals a couple years ago in west Michigan, long story short, we've got to let go of one because we're over leveraged. Our lender wrote a bad loan, we purchased the property for more than it's worth, now we aren't able to sell it properly with...
I’m a real estate investor in Sacramento, CA, and I’m looking to connect with people who have real experience with creative finance transactions, especially subject-to deals. I’d really like to connect with: Investors who regularly structure subject-to and other creative finance deals Insurance a...