All Forum Posts by: AJ Exner
AJ Exner has started 1 posts and replied 549 times.
Post: BRRRR startegy when you do a refinance cash out

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Karim Smail:
Hello Community team,
When you do a BRRRR, I am finding out that there is a 6 months seasoning waiting period ( DSCR ) before you can cash out refinance, so we can evolve our funds to go to the next property to purcahse and redo a BRRRR.
Thanks for your input and advise for a solutions.
Correct, many lenders require a 6 month seasoning period, but there are a growing number of lenders doing 90 days or less right now, especially if you can show that rehab has taken place.
Are you currently looking for one in Detroit? Just sent a DM but happy to help if I can!
Post: Hard Money Lenders

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Steven Garza:
Quote from @AJ Exner:
Quote from @Steven Garza:
Hello all, I am in the phoenix area looking for any advice or recommendation's on HML's. Ones that are investor friendly even for newbies maybe that don't have crazy draw processes or issues with receiving funds in a timely manner. Any and all suggestions are greatly appreciated.4
Thank You
Hey Steven,
Going to vary quite a bit by initial leverage and your FICO in particular. There are still HMLs out there that might look more like a non-QM lender, but if you have a good credit then they might still be willing to do some pretty heavy leverage.
Are you looking at investing largely in AZ or are you looking elsewhere?
I am looking right now only in AZ as this is where I reside. I just had my credit pulled last week for a HELOC and it was 844. Im still learning the process and lingo for it all.
Totally understand.
And real estate (like many things) can lead you at a point of paralysis by analysis. There is a certain point where you will need to just jump in and learn some things to be able to go from there.
Make sure when you are working with potential lenders that you tell them that the property is in AZ early, as the licensing there is a little different so some lenders will not be able to lend to properties there.
Good luck!
Post: Hard Money Lenders

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Steven Garza:
Hello all, I am in the phoenix area looking for any advice or recommendation's on HML's. Ones that are investor friendly even for newbies maybe that don't have crazy draw processes or issues with receiving funds in a timely manner. Any and all suggestions are greatly appreciated.4
Thank You
Hey Steven,
Going to vary quite a bit by initial leverage and your FICO in particular. There are still HMLs out there that might look more like a non-QM lender, but if you have a good credit then they might still be willing to do some pretty heavy leverage.
Are you looking at investing largely in AZ or are you looking elsewhere?
Post: Cash Out Refi in Under 1 Year?

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Hey @Leanna Nixon,
Is it on an investment property or your primary residence? Assuming an IP than you should be in great shape for a DSCR as most lenders ask you only wait 6 months with some even less. And with rates the way they are going, they are pretty competitive to even the conventional ones.
Post: Looking for private money lenders/refinance seasoning period

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Inga Davis:
Hello,
I just purchased my first property using my heloc, it's renovated and rented out (BRRRR strategy). I bought it 3 months ago and am running into a problem when it comes to refinancing it due to the seasoning period. Most lenders seem to have a 6 month seasoning period, so I can't do a cash out refinance right now at 3 months after purchase. Are there private money lenders who do cash out refinancing deals as an alternative? Or what is the best way to get around this seosoning requirement so that i can buy my next property with my heloc? Thank you!
Inga,
There are certainly lenders with 90 day or less seasoning, but as you’ve found it is about finding those groups. This is a great place for that!
Just shot you a dm, would love to be able to help if I can.
Good luck!
Post: Hard money loaf Vs Comventional loan for rehab rental property

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Mel Gardner:
I am having trouble figuring out whether to go with a hard money lender, or a conventional loan for my first rental property. I don’t want to buy something that needs too much work, something that is just about move-in ready besides for small cosmetics. I will need a lender to provide the money for repairs, then I can refinance and rent. Still getting started, so any information on how to do. This successfully is very much appreciate it. Thank you.
You will have to pay a little more if you go the HM route, and for the first one or two if you have a good local, conventional lender that will do that you would be okay, but HML are great for speed, efficiency, and some quirks, depending on the lender.
It might also depend on your capital and how much you are wanting to spend on the first one. You would have some additional flexibility and often they won't worry about your W2 income if you think that might be an issue, as well as your credit.
Certainly a lot to consider, happy to connect and talk through your options if you would like!
Good luck
Post: self directed IRA

- Lender
- Springfield, MO
- Posts 574
- Votes 285
I am aware of a few groups that can usually utilize funds from an IRA to help purchase new homes at reduced leverage (usually capped at 70% LTV).
It might be more beneficial from a tax-standpoint as well to do it that way instead of drawing it all out.
Post: Refi / Rental loan upto 80% ltv

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Post: Lender24Solution - Private money/ Hard Money and Secured

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Jeremiah Alton:
Anyone used these folks before?? Member of a group I am in on FB but the letter they send me looks unofficial.
Offering me loan at 5% interest for 30 years no prepayment. BUT there are some misspellings in the contract an punctuation is off... So it started raising questions.
I think the rate and terms worry me more than the misspellings, but I would probably pivot from that group. 10 year treasury is at 4.42% right now (as I type this) so 5% is.... doubtful.
Post: Looking for Renovation Loans

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Matyndia Oyourou:
Hi everyone!
I am new to real estate and looking to purchase my first multi family property. I found a triplex in need of renovations. Asking price is $350k and I estimate to spend around $50-80k on renovations. Based on comps, the after repair value is about $425k. I have been pre-approved for a conventional renovation loan for 5% down and estimated interest rate of 7.5-7.625% and PMI $2796 annually with a credit score of 749. I have been advised to shop around for different lenders and to compare rates and fees.
If anyone knows of a great lender that specializes in renovations loans , preferably local to Houston, I would appreciate the recommendation. I also welcome any advice on what things to look for when comparing different lenders/loan programs and what important questions to ask. Thank you in advance!
Matyndia,
Sounds like a pretty good loan, given the renovations, I would ask that lender what the prepayment penalty would be so that you could refinance based on $425k.
As for renovation loans that I see, primarily hard-money type deals, I think its good to prioritize one or two of either rate, length of term, % of rehab covered, down payment requirement, what they lend on Loan-to-cost, and experience requirement. There are a lot of factors to consider, but I think having a good idea on what you want to prioritize will help you to ask the right questions.
Most of your lenders will be at about 10-12% Interest only for 6-12 months, but will have different quirks that will set them apart from other lenders.
The deal itself seems pretty straightforward though, and hopefully it will all come together! Happy to help where I can.