Refi-lender wanted with potential double close on the next Buy

[Matthias Pieplak]

Good morning,

It's been a busy year. Me and my team acquired 5 units, rehabbed like crazy and now we are broke ;-) in a good way. I'm excited for this year's tax returns. We have new opportunities on the horizon, so to us, refinancing is a must.

I'm looking for a DSCR lender  to refinance out of a stabilized Duplex with area code 21869. All the renovation work has been photo-documented. Here are additional details.

Estimated ARV: $250,000

Desired cash out: 65-75% LTV
Desired P&I payment: $1,350 /month

Gross rent: $2,250

Thanks everyone for your input! I check my DM's once a day. P.S. *I'm also interested if someone wants to share DSCR underwriting criteria, which I'm not familiar with.

Matthias Pieplak
RuNuts Properties LLC
Berliner Builder LLC, MHIC #156220

Front Elevation Rear

[Alex Bekeza]

@Matthias Pieplak Your P & I target is achievable. The DSCR underwriting process is fairly simple. Lenders tend to offer as high as 75% LTV for cash out refinances as long as you can still meet their particular DSCR requirements (typically 1.0 or 1.1). Many lenders are taking an overly simplistic approach to DSCR which is just GROSS RENTS/PITI. (no pads for vacancy, PM, r & m, etc.).