Looking For Funding to Refi Rentals at 75% LTV on performing Prop
I am currently looking to cash out some equity on rental properties to acquire more cash flow cows. I am looking for long term financing preferably 10-15 year fully amortized, or would go longer if someone is willing. Here is the scenario with nothing hidden.
$30K Loan amount
$40K Appraised value or higher
$750 Rents
$460 True Cash Flow after expenses and factoring 20% for cap x and maintenance and have cash reserves
Title held in an LLC owned by 2 partners
Partner 1 owns 65% with $80K/yr w2 job and 700 credit scores
Partner 2 owns 35% self employed and mid 500 credit scores (has 4 years experience as a professional RE investor)
We are looking to build an ongoing relationship with a funding partner to be the back end of our BRRR. We use 100% of our own money to purchase, rehab, and then rent out the properties. We would like to refi into long term loans and repeat the same process multiple times.
If you are the right fit for our funding needs please send me an email with terms and conditions and I would love to talk with you soon.
Ozzy
