All Forum Posts by: Tarik Turner

Hello fellow BP'ers we created a board game meant to educate and inspire future investors.

Chasing A Milli is a 2-4 player game that will keep you striving to earn new investment opportunities on your way to your first $1,000,000. We wanted to think outside the box as far as educating and entertaining our clients through the pandemic, It has taken a while, but it is finally here and available for purchase https://www.ei8htstreetfunding...

LTV is loan to value.. that is the percentage of the purchase price a lender will cover

Seasoning periods are used for refinances, this sounds like a purchase if i am not mistaken.

Depending on the property type you may be able to get a bridge loan on it for the purchase and rehab and then refinance once your seasoning period is up

The criteria will differ based on the lender and type of property especially (post COVID)

LTV is usually around 70% to 75% LTV

I typically ask my clients to submit a screenshot of their credit score using any of the free reporting sites and I can get them a quote based on that score. (The numbers on the free reporting sites are almost always slightly higher than when credit is actually pulled but it gives you a range)

Without having income to show it means you are using a non traditional loan product, with that being said the rate quoted is the norm

You be should able to find a non QM at sub 100k but adding 80% LTV to the equation might make this a needle in a haystack scenario, especially now. Also smaller loan amounts tend to be more expensive.

Most portfolio and Hard money lenders can issue loans in multiple states. As long as the area isn't too rural you should be able to find a loan solution going that route 

Keep shopping around there are 30 year fixed commercial loan products

Sounds like what you are looking for is more along the lines of an LOC which you will need to show a history of experience in order to obtain. You can look at portfolio lenders if you are looking to purchase singular deals or multiple under a blanket loan but there will be an underwriting process for each property that you put under contract