Have your basic deal information ready: Purchase price Property details Rehab budget Scope of work ARV/exit value Timeline Exit strategy Investment experience The clearer the picture, the easier it is to evaluate the opportunity. What's one thing borrowers often forget to prepare?
Hey everyone, I’m looking for some real-world insight and tips on converting a primary residence into a rental property. I know standard mortgage contracts have residency and due-on-sale clauses, but I wanted to ask the community: For those who have converted a primary home to a rental, how did y...
Hey everyone, I’m an Account Executive with Civic Financial Services, working with real estate investors on financing for fix-and-flips, rental properties, bridge loans, and ground-up construction. I’m looking to connect with mortgage brokers who work with real estate investors and are open to bu...
I am looking to purchase my first multifamily investment property to BRRRR/househack in Massachusetts. Looking to connect with lenders, agents, contractors, and other investors!
For investors who have used both private lending and traditional financing, how much of a difference have you noticed in the time it takes to close? I’m curious about your actual experience from submitting an application to getting funds ready for closing. With traditional financing, the process ...
I am a mortgage broker looking for a wholesale lender (not ACRA) who can do a DSCR rate and term loan on a manufactured home. Please let me know if you know of any. Thank you!
For those who invest in mortgage notes, what has been the most challenging part of finding, evaluating, or managing your investments? I've been interested in learning more about the practical side of note investing, particularly how investors handle the differences between performing and non-perf...
We've all heard about deals falling apart because the numbers didn't work. But how often have you seen a potentially good deal fall apart simply because the financing or closing timeline didn't line up? Which one has caused more problems in your experience?
Markets are stressed and impacting lenders too. Funny how a very honest review gets blocked.
I have an Off-Grid property that is currently for sale. It is also unpermitted, so I figured on selling it for cash only....but of course the first showing is asking if I will carry paper. Due to various reasons I would prefer not to, so I'm wondering if there is any financing available for these...
Hi how are you doing BP community I have a loan of one of my rental properties with rocket mortgage and they are offering dscr to cash out refi and I wonder if anyone worked before with rocket mortgage they offer $0 out of pocket fee , thanks
Hello! I currently have a DSCR loan at a 7.37% interest rate on a new manufactured/mobile home located on a privately owned lot in Maple Valley, Washington. The property is currently not generating enough cash flow, so I’m looking for creative options to reduce the interest rate or lower the mont...
For those who invest in mortgage notes, what are the most important factors you review before deciding whether to purchase a note? For example, how much weight do you give to: The borrower's payment history Current property value and equity Remaining loan balance Interest rate and monthly payment...
I've been researching the private lending process pretty deeply, particularly what happens around borrower and entity diligence, and I could really use some perspective from people who actually do this day to day. I've spent a ridiculous amount of time reading about the process and talking to peo...
For investors who have purchased non-performing mortgage notes, what are the most important factors you evaluate before making an offer? How much weight do you give the borrower's payment history, property value, remaining loan balance, lien position, and local market conditions? I'd also be inte...
I own a non-owner-occupied investment property and have been having a difficult time finding a lender that offers HELOCs on investment properties. I’d like to leverage some of the equity I’ve built in the property to help fund my next investment. For those of you who have done this, who would you...
Hello All, So meantime I want to learn on the side Private Lending. I did go to an event several years ago It was of George Antone in California. So far I know non-owner occupied loans should be done if doing Private lending and also LTV (loan to value), first-lien, etc. But the biggest obstacle ...
I keep going back and forth on this and want to hear how the community is thinking about it in today's rate environment. A cpl of questions: - If you're sitting on $50K-$100K of equity and want to pull it out for your next deal, how do you decide between a HELOC and a cash-out refinance? -Has any...
Anyone have a good lender in Jackson TN? Im putting 4 homes under contract and want to have one loan. Each home has a sales price of $35k and will not meet minimum loan requirement amount if done individually.
Does anyone have experience with trying to refinance a new construction property that was built as a 2 unit but split into two separate 1 unit attached properties? We are trying to refinance these as two separate DSCR cash out refinances that will close simultaneously and payoff the construction ...
Here's the background: I've been investing in real estate for 16 years. I have gotten hundreds of loans from several sources over that time frame. When I get loans, the loan officers will usually go over the loan terms with me including interest rate, time frames, if anything adjusts during the l...
Hello BP community, I am a beginner investor looking to start my journey with a FHA house hack in the DFW area. I’ve been reading through Craig Curelop’s “The House Hacking Strategy” and am working on assembling a team. I started with the Bigger Pockets Lender Directory which suggested Total Qual...
As an example, what I have learned by reviewing clients data and questions for a Fix & Flip, is that there are some simple questions that need to be answered: Where is it, whats the price, whats the ARV, How much are you looking for, how many F&F deals have you done in the last 3 - 4 years? After...
I am a licensed real estate agent that is not practicing due to not paying the start up fees. I am also with Kiavi as a independent Mortgage broker. Any tips on how i can get started as a referral agent is welcomed and as a for mortgage broker. I do not have a car but i am working on that. Feel f...
Hello, I am wondering if any lenders offer helocs that don’t look at tax returns as much and more the value of the house? I own my home outright and I am self employed. I have only had my business for 2 years and the first year there wasn’t much profit so when lenders go to average the past 2 yea...