Refi or LOC
ISO lenders for smaller 75-80% Refi's or Line of Credit's for 1 or 2 properties in Kansas City, Mo. One is currently free and clear and the other will be soon. Both valued at 60-80k. Both occupied and cashflowing far past the 1% Rule. No credit issue. 700 credit score & 6+ years of experience in experience with SFH & Multi.
With values in that range, it may open moor options up for you if you bundle them together in a portfolio loan. 75% LTV is likely to be your max cash-out, assuming you go with a DSCR product. Feel free to reach out if you need recommendations.
Quote from @Mark Munson:Okay, Thank you. If I decide to go with keeping one free & clear, Would there be any equity I could utilize in the other value at 60-70k?
With values in that range, it may open moor options up for you if you bundle them together in a portfolio loan. 75% LTV is likely to be your max cash-out, assuming you go with a DSCR product. Feel free to reach out if you need recommendations.
If you use it as collateral in a portfolio, then no. If you separate the two, then yes obviously. The difficulty is doing one by itself is that it will fall below most minimum loan amounts in the DSCR space (min. $50k loan amount most of the time, if not $75k). Maybe speak with a local bank too.
Paul Higbie 913-636-7504
Alex Chang 816-520-9355
Both these guys can help you out! I personally haven't done any deals with Alex yet, but he seems like he has some good options. Paul takes care of a lot of my customers though! Both are worth a call!
I'm an investor friendly agent in KC. If you need any other contacts message me, I have several contacts for everything you may need!
Quote from @Dustin Street:
Paul Higbie 913-636-7504
Alex Chang 816-520-9355
Both these guys can help you out! I personally haven't done any deals with Alex yet, but he seems like he has some good options. Paul takes care of a lot of my customers though! Both are worth a call!
I'm an investor friendly agent in KC. If you need any other contacts message me, I have several contacts for everything you may need!
Thank you! I know of Alex. I let him know that you recommended him. I’ll reach out to Paul tomorrow to see what terms or options he may have. Thank you.
@Marcus Wright No problem! Let me know if I can do anything else to help