All Forum Posts by: AJ Exner
AJ Exner has started 1 posts and replied 549 times.
Post: Small Multi-Family Investing

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Brett Johnson:
5-20
I think the clearest path is that 5-10 space, once you get above 10 it can get kind of tricky and there could be a lot of conditions.
Having a clear picture is only going to benefit, so hopefully you can snag something going into the spring and if rates start to go down a bit you'll be in great shape!
Good luck, happy to help where I can!
Post: Small Multi-Family Investing

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Hey Brett,
So I have to ask, when you say small multi-family, are you talking 2-4, 5-10, or 10+? They all have pretty big differences in the space and can very quite a bit from group to group.
Post: Is a fix and flip loan the best option here?

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Samantha Schiabor:
Is a fix and flip loan the best option for this scenario? The property is being bought at a discount and has equity built in already... no need for funding to do renovations.. is there any other forms of financing that is available for a quick clean flip like this?
A small fix and flip loan would give you the ability to access the built in equity much faster, even if it is a 'stabilized bridge' loan that would allow for you to wait the 3-6 months for seasoning. Otherwise, you would likely be capped waiting for some kind of prepayment penalty to expire.
Even if the fixes you do is some basic clean up, patching paint, drywall, etc (~5-10k) then you could get it through and get it done pretty quickly.
Post: Short seasoning DSCR lender

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Sean Dezoysa:
Hello, I am in need of a short seasoning DSCR lender who requires maybe two to three months to do 75% or better Loan to value. As we significantly improve our properties but for the current situation we're able to get it ready with minimal to no rehab, I understand this is Non ideal for DSCR lending purposes
Hey Sean,
I know of a few that can do 3 months or even less. Just shot you a DM, happy to help where I can.
Thank you,
Post: DSCR loan for motel style property?

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Does each unit have its own bathroom and kitchen?
Post: Knoxville TN for BRRRR

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Hey Travis,
So you might run into some issues further down the 'RRRR' train on this as underwriting income on MTR/STR has become trickier over the last couple of years. If the deal works, it works, but I would definitely be cautious as the property types can play a role in that as well.
Do you have a contractor ready to go over there as well?
Post: Looking for help with DSCR Loans

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Mario J Perez:
Thanks!
But if the loan approval is based on the rental income, why do they need my credit score?
It may also not impact your 'approval' as much as it will impact your rate. Tends to be the biggest differentiator on 30 year fixed DSCR loans.
Post: Investment house loan in company name

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Deano Vulcano:
Hi John,
Here are the numbers: Purchase Price $101k/ ARV $205k/ Down payment $21k/ No rehab/ 785 credit score/ 30 yr amortization
Hey Deano,
You can either Quit Claim Deed it over to your LLC, or you can refinance at the new value, assuming you have owned it long enough for seasoning to take place (usually 6 months, some lenders will do 3 or less) and get some cash out as well.
Is it tenant occupied already as well? You would need a new appraisal and while some lenders can go off of the market rents on a 1007, you will want to make sure of that before you get in too far.
Good luck, happy to help where I can. Very straightforward process if you have the tenant in there and want a full cash-out refi.
Post: partnering with daughter, how to put names on title

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Quote from @Lon Sierra:
Hi, we're partnering with our daughter and son in law on a cash deal. They've never bought real estate and want to some day buy a primary home and are concerned putting their names on investment properties will hurt their chances of an fha loan someday. We suggested they start a business and buy through the business name but aren't sure about that either. Short of consulting with a lawyer or such thought we'd see what you all have to say about it. Thanks!!
Hey Lon,
LLC purchase is definitely the way to go. Make sure everyone is at least 20% members but that will create the umbrella necessary to get everyone "credit" on paper and allow them to start their investment journey.
Plus, if you purchase with an entity in a DSCR loan, it won't impact their Debt-to-income or their personal credit leaving it available for their own personal homes.
Good luck! Happy to help where I can.
Post: Flipping homes in Los Angeles

- Lender
- Springfield, MO
- Posts 574
- Votes 285
Hey @Account Closed
I can't speak too much into the LA market specifically, all I've seen personally is that a BRRRR-strategy in LA is tougher because of property values. Otherwise, there are still decent flips in this market with rates the way that they are.
As for the volatility/crash potential, there are people who get paid A LOT more than me trying to guess that, but I think in the end, that is why we do real estate instead of solely stocks, etc. because of the perceived 'stability' of real estate. People will always need homes and that is the basis in which we invest.
Reliably finding good deals is the key to sustainability in this. Working with a good investor-friendly realtor would be helpful, but always keeping an eye open and looking for alternative lead streams never hurts as well.
I hope that helps, but having contractors that you trust and being ready to move when the deal comes up should put you in good shape going into the spring.
Good luck!