Jax Refi: $516k+ Portfolio ($4.4k/mo Net / 2.45x DSCR) – Seeking 1st Lien Private Len

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Jax Refi: $516k+ Portfolio ($4.4k/mo Net / 2.45x DSCR) – Seeking 1st Lien Private Len

Evarist Ruhazwe
Member since 2023 · 9 posts · 4 votes

Hi BiggerPockets community,

I am looking to connect with a private lender, debt fund, or investor-friendly mortgage broker to refinance existing debt across two performing, fully occupied residential properties in Jacksonville, FL.

Due to a recent dip in personal credit score driven by revolving line utilization and project carrying costs, standard full-doc personal DTI underwriting is not an ideal fit. I am looking for an asset-backed private bridge or flexible debt facility secured by real estate equity and verified net operating cash flow.

Portfolio Overview & Valuations

  • Property 1: Roanoke (Jacksonville, FL)

    • Asset Type: Co-living / PadSplit (100% occupied, all rooms filled).

    • Net Monthly Cash Flow: ~$3,000/month net (after platform fees, utilities, and reserves).

    • Current Monthly Debt Service: $1,350/month.

    • Estimated Value: $255,000+ (conservative baseline).

    • Current Loan Balance / Payoff: $[Insert Exact Payoff Amount]

  • Property 2: Worthington (Jacksonville, FL)

    • Asset Type: Single-family residential rental (long-term tenant in place).

    • Net Monthly Cash Flow: ~$1,400/month net.

    • Current Monthly Debt Service: $1,680/month.

    • Appraised Value: $261,000 (recent appraisal in hand).

    • Current Loan Balance / Payoff: $[Insert Exact Payoff Amount]

Portfolio Financial Highlights

  • Combined Asset Value: $516,000+

  • Combined Net Cash Flow (After Debt): $4,400/month ($52,800/year).

  • Current Debt Service: $3,030/month.

  • Total Portfolio NOI (Before Debt Service): ~$7,430/month ($89,160/year).

  • Portfolio Debt Service Coverage Ratio (DSCR): ~2.45x.

Loan Request & Target Terms

  • Facility Structure: 1st lien position on one property or cross-collateralized blanket mortgage over both properties (promissory note + recorded mortgage/deed of trust).

  • Loan Term: 12 to 24 months, interest-only.

  • Target Pricing: Competitive private market rate (8.0% – 10.0% simple interest-only preferred).

  • Loan-to-Value (LTV): Conservative (targeting ≤65% LTV against the $516k+ basis).

Exit Strategy

  1. Credit Restoration (Months 1–6): Surplus net cash flow ($4,400/mo) and refinance proceeds will pay down personal revolving credit lines below 20% utilization, moving mid-FICO scores back to 640+.

  2. Permanent DSCR Takeout (Months 12–18): With clean credit and 6–12 months of PadSplit dashboard statements and lease ledgers, the note will be refinanced into an institutional 30-year fixed DSCR loan.

I have full rent rolls, operating bank statements, PadSplit weekly payout reports, the Worthington appraisal report ($261k), and title records ready for due diligence.

If you lend in Florida or can connect me with a private lender comfortable with co-living cash flow, please reach out via direct message or comment below.

Thank you!

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Most Popular Reply

Neeraj Diwan
Lender · Stamford, CT · Member since 2026 · 52 posts · 8 votes
1w

@Evarist Ruhazwe with the November and December maturities, I'd prioritize current payoff letters and a realistic exit before choosing separate first liens or a blanket loan. Confirm how the bridge and takeout lenders will treat Roanoke's room income; the stated portfolio DSCR may not match their calculation. J3 can review the payoffs, values, leases and timeline for a possible first-lien fit. Feel free to DM me; feasibility and timing need lender review.

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  • Mayo GilfurtPro Member
    Real Estate Consultant · Connecticut Ct · Member since 2026 · 166 posts · 35 votes
    6d

    Good afternoon, Evarist,

    I came across your post regarding the Jacksonville investment property portfolio refinance.

    My name is Mayo Gilfurt, with Gilfurt Capital. We specialize in commercial and business-purpose real estate financing.

    After reviewing your financing objectives, I believe your portfolio may warrant further evaluation for an asset-based refinance or private bridge financing structure.

    I noticed that you have a defined exit strategy, documented rental performance, and supporting property information available for review.

    I'd welcome the opportunity to learn more about your current loan balances, financing requirements, and timeline to determine whether this transaction aligns with our lending partners' guidelines.

    Are you still actively seeking financing?

    Best regards,

    Mayo Gilfurt

    Gilfurt Capital

    Commercial & Business Lending

    [email protected]

    GilfurtCapital.com

    0Reply
  • NA NA
    Hinton, WV · Member since 2026 · 5 posts · 0 votes
    3d

    Hello Evarist,

    I’d like to introduce Flex V Capital Ltd., specializing in private real estate financing, bridge loans, investment property refinancing, and flexible funding solutions for real estate investors.

    We would welcome the opportunity to review your Jacksonville portfolio and explore potential financing options aligned with your refinancing objectives. Our team works with investors to evaluate property-backed financing opportunities based on the specifics of each transaction.

    Please feel free to connect with Flex V Capital here on BiggerPockets or send us a direct message to discuss your loan requirements and next steps.

    We look forward to connecting and exploring how we may assist with your financing needs.

    0Reply
  • Ray Henri
    Member since 2026 · 2 posts · 0 votes
    3d

    @Evarist Ruhazwe Hi, I saw your post about the refinance for the two occupied units in Florida. Are you still looking for a lender? If so, I can help. Send me a DM or email to [email protected]

    0Reply
  • Nyisha Walton
    Lender · Houston, TX · Member since 2026 · 119 posts · 35 votes
    1d

    Hi Evarist, I saw your update that you want a straight refinance, not cash-out, and that only Roanoke is PadSplit. I’m Nyisha with EquityNest Capital. Given the November and December maturities, the most useful next step would be to compare separate first liens against a blanket structure using current payoff letters. If you would like a review, please send the exact payoff and maturity date for each property, the Worthington appraisal, Roanoke rent and payout history, leases, taxes, insurance, entity information, and your approximate credit range. We would also confirm how a takeout lender will treat the room income before relying on the bridge exit.

    0Reply
  • John White
    Member since 2026 · 6 posts · 0 votes
    1d

    Hi Evarist,

    I saw your request for bridge/refinance financing on your two Jacksonville rental properties.

    I operate LoanShift, an independent real-estate financing referral service. We work with a third-party funding marketplace where property owners can submit an initial financing inquiry.

    If you're still looking, you're welcome to start here:

    https://rocky3d.com/loanshift/index.php?apply=1

    The funding partner can review your request to determine whether suitable options may be available, including whether your property types are eligible.

    No guarantees, but it may be another avenue worth exploring.

    John White

    0Reply
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