All Forum Posts by: Tarik Turner

What is the appraised value of the property and is it currently rented out? 

Are you talking about length of time in regards to seasoning or in regards to period prior to closing? 

The main thing that stalls out some of these portfolio loan deals are the Values of the properties individually. 

Most lenders like to see at least a 75k min property value some go has high as 100k min. 

You can get a portfolio loan for properties below those values however the pool of lenders thin out and local credit unions tend to be the safe bet on those type of loans 

Different lenders have different requirements however the pool of lenders get larger when your loan amount is over 75k and you have held the property for 6 months to a year. 

but you can absolutely refi a property in less time and for a smaller loan amount. Again there really is no standard across the board answer here 

You can get 75% LTV on a cash out refi from numerous Lenders

Seems to be pretty unrealistic 

Also sounds like you maybe using the wrong loan product for this deal. 

Loan should be based off of the ARV if there are repairs needed not as is.

Unless that 190k appraisal is the ARV

There are lenders who are asset based and do not require tax returns nor pay stubs for purchases or refinance deals. Your rates will be a bit higher than a conventional loan but still very possible 

What will be the property value at the time of the refi? 

Reading informational and positive books in general is a game changer. 

I would say 

As a Man Thinketh 

Richest Man in Babylon 

Psycho Cybernetics