All Forum Posts by: Tarik Turner

I agree with Chris it depends on the prepay of your initial loan. 

Some conventional lenders may want to base the value of the property on the purchase price if refinanced within the first year but there are a ton of lenders who can refi at the current value after 6 months and some with even as few as 30 days of seasoning

Are the property values over 100k? 

What is the ARV of each and Rehab costs?

This sounds pretty backwards 

Lender may not be legit. 

Lenders who offer fix and flip products will almost always offer 100% of the rehab budget to ensure that the property reaches the ARV evaluation. The borrowers skin in the game usually comes up front

you can find lenders who will lend against the value after 6 months 

 Credit Score Driven but you can get a 5/1 7/1 or 30 year fixed 

Rates will be in the mid 7's to mid 8's typically 

We have used an 80% LTV loan product in the past 30 year term 30 year fixed

if your credit score is over 720 you should be able to qualify shoot me a PM

You can still get it done even though you are not a resident the LTV usually is the major difference.

There are fix and flip products offered by non traditional lenders and you can also refi out at around 65% of the ARV

The lenders will have requirements that need to be met such as a US bank account where the funds will be coming from to close and some may also want to see you own at least one other property in the states, but keep shopping around 

You can also keep in an LLC and Refi it just depends on the terms that you are looking for.

There are advantages and disadvantages to both 

You can still get a cash out refi on an investment property under an LLC

Depending on the location, credit score and type of property you can get as much as 80% LTV although 70-75% ltv is standard on most cash out refi products for lenders