Looking for multiple loans

St. Louis, MissouriWantProfessionalsLender
Classifieds
2yFollow

Looking for multiple loans

Jeremy Georghiou
Member since 2024 · 5 posts · 4 votes

Hi,

I'm a new investor and I'm looking for two different loans:

1. I need a cash out refi for a home I'm rehabbing with 3 months or less seasoning. Ideally the lender is willing to do 75-80% of ARV and include rental income as part of the valuation. PP $115K, adding $35k in rehab, and aiming for a $200k+ ARV.

2. I also need funding to purchase turn-key units in the $60-95k range with the ability to close in two weeks or less.

I have great credit and cash reserves and a strong team in STL.

Once done refinancing this current rehab I'll also need some bridge loans.

2Reply
48 views

Most Popular Reply

Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
2y
Quote from @Jeremy Georghiou:
Quote from @Erik Estrada:

Hi Jeremy, 

Is property #1 complete? Or do you need financing to complete it? How many fix and holds/flips have you completed in the last 36 months? 


Property #1 is in progress. I have a bridge loan but looking to refinance when it's done in less than the six months required by the lender. This is my first fix and I plan to hold.


Got it. A few DSCR lenders do not have a seasoning requirement. Happy to connect

[email protected]818-269-7983
LuxePrivate Investments LLC 572 Reviews
WebsiteView Page
1Reply
See this reply in the discussion

10 Replies

Jump to latestLatest
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    2y

    Hi Jeremy, 

    Is property #1 complete? Or do you need financing to complete it? How many fix and holds/flips have you completed in the last 36 months? 

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    0Reply
  • Jeremy Georghiou
    OP
    Member since 2024 · 5 posts · 4 votes
    2y
    Quote from @Erik Estrada:

    Hi Jeremy, 

    Is property #1 complete? Or do you need financing to complete it? How many fix and holds/flips have you completed in the last 36 months? 


    Property #1 is in progress. I have a bridge loan but looking to refinance when it's done in less than the six months required by the lender. This is my first fix and I plan to hold.

    1Reply
  • Simmy AhluwaliaPro Member
    Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
    2y

    @Jeremy Georghiou - what is the location for property #1?

    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    2y
    Quote from @Jeremy Georghiou:
    Quote from @Erik Estrada:

    Hi Jeremy, 

    Is property #1 complete? Or do you need financing to complete it? How many fix and holds/flips have you completed in the last 36 months? 


    Property #1 is in progress. I have a bridge loan but looking to refinance when it's done in less than the six months required by the lender. This is my first fix and I plan to hold.


    Got it. A few DSCR lenders do not have a seasoning requirement. Happy to connect

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    1Reply
  • Jeremy Georghiou
    OP
    Member since 2024 · 5 posts · 4 votes
    2y
    Quote from @Simmy Ahluwalia:

    @Jeremy Georghiou - what is the location for property #1?


    Ferguson MO
    0Reply
  • Jamie Parker
    Real Estate Investor · Memphis, TN · Member since 2016 · 406 posts · 133 votes
    2y
    Quote from @Jeremy Georghiou:

    Hi,

    I'm a new investor and I'm looking for two different loans:

    1. I need a cash out refi for a home I'm rehabbing with 3 months or less seasoning. Ideally the lender is willing to do 75-80% of ARV and include rental income as part of the valuation. PP $115K, adding $35k in rehab, and aiming for a $200k+ ARV.

    2. I also need funding to purchase turn-key units in the $60-95k range with the ability to close in two weeks or less.

    I have great credit and cash reserves and a strong team in STL.

    Once done refinancing this current rehab I'll also need some bridge loans.


     I can refer a lender(bigger pockets featured), Send a pm and I can sent the information over. 

    0Reply
  • Simmy AhluwaliaPro Member
    Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
    2y
    Quote from @Jeremy Georghiou:
    Quote from @Simmy Ahluwalia:

    @Jeremy Georghiou - what is the location for property #1?


    Ferguson MO

     Ok.  We are happy to get you a quote if you want one.  Reach out.

    0Reply
  • Givo Aghasi
    Lender · Los Angeles, CA · Member since 2022 · 238 posts · 73 votes
    2y

    @Jeremy Georghiou I'm happy to be an additional resource for quotes. We work with some lenders that only require 90 day seasoning.

    1Reply
  • Stacy RaskinBusiness Member
    Lender · Member since 2022 · 1k+ posts · 508 votes
    2y

    I can do 3 months seasoning for #1 and use the new appraised value. 

    I work with turnkey properties but getting funding in two weeks is tight unless you want to pay higher rates for the short escrow. 

    I'll send you a direct message. 

    [email protected]818-770-0340
    Bright Skyline518 Reviews
    WebsiteView Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free