BRRRR is missing an R during covid

[Pete Storseth]

Looking for HMLs still offering 30 Yr amorts in 3-6 months.

Without the refinance, BRRRR isnt BRRRR

It's a high interest rental with HML and a flirtation with forbearance with conventional. Or am I wrong? Do I just need to start calling lenders again?

I'd like to be wrong

[Jay Hinrichs]

Originally posted by @Whitney Hutten:

I know... frozen non-QM sucks right now.  I got incredibly lucky as I recently sold a couple of early properties since my ROE dropped and have conventional slots available. That said, I'm not opposed to do a 7/1 or 10/1 with a local lender who holds their own paper for the right deal.  Personally, I feel this whole situation has brought me back to the fundamentals of real estate... it's a relationship business... including lending.

YUP good relations with your community banker is worth its weight in gold.. I could never understand those that get all fired up and move to some lender with no relationship over 50 bps.  My Community banker saved my bacon in the GFC .. If I had been with a national type lender we would have been toast.   You  want a lender you can actually talk to and will help you through deals if you hit a rough patch..

And so like last week with all the PPP applications my banker personally walked mine through.. try that at Chase or BoA