I have a SFH in my LLC wanting to cash out refinance. Willing to personally cosign loan.
Current lien 75k
Seeking 20-30 year amortization, fixed rate preferred, but negotiable. Seeking 75-80 LTV
Rented for 1900/month
W-2 income 275k
Please PM me!
I send you message.
@Logan Turner that sounds like a screaming deal. Good work. A couple of things to consider... You already mentioned W-2, you will need good credit of course and don't forget the seasoning period. The seasoning period is typically 6 months with only a few exceptions down to 90 days.
Yes, credit score is 728. I've owned the property since 11/2016.
Its a good deal, since I should be able to BRRR it and not keep a lot of money in the deal. My rehab has been 55k, financing private lender (the 75k note) 9k in total, purchase price 51k. holding costs 1k. So I'm about 110k invested, 75k private lien, 35k out of pocket cash. But refinancing it at 75% LTV should give me 108k minus loan fees and I will cash flow 800/mo :)
nice work. We used to live in San Diego, where the heck did you find a deal like that?! That is great. Looks like that refi is a great option to lock it in long term. I hope it was usefull to see those 3 offers so quickly. It looks like you are doing it well, personally and business, so I am sure the closing process with go very smoothly. Let me know if the isn't anything else that I can do to help or help strategize