All Forum Posts by: Amit Bhojwani

Thanks, Stephanie. Do you offer these loans? 

These are great questions. This model isn’t typically what I would go with, but I do not have any time to vet and develop teams for my properties. This particular group does the rehab and manages the property afterwards. I follow the property rehab through a company cam that gets updated regularly, so I am aware of the work that is going on and the product I’m receiving before and after. Of course, I have also spoken to references who have done with this particular group. The company has been very responsive of my questions and any concerns.

So far, there haven't been any red flags. I have very limited time so this saves me a lot of headaches. The properties also appraise at the ARV, so it's not an issue.

Hello,

I am working with a company that sells a property and does the rehab. I buy the property upfront at the ARV. During the rehab process, I take an out a bridge loan and carry it for about four months until the property has finished its rehab. Once the rehab has completed, I refinance into a DSCR loan and have to pay closing costs again. Does anyone know of a lender that will allow one closing to decrease fees? Of course, if anyone has any better financing ideas, I'd be interested to hear those as well.

Thanks in advance!

Amit Bhojwani

Does anyone know of any banks that provide HELOCs on investment properties across the country? 

Thanks Devin.  The property in question is 13 units and valued well over $50k, however, the price per door is less than $50k, and this has been my hang up.  In any case, that property is now under contract, and my search continues.  I would like to establish a relationship with some lenders for the next opportunity.

Hi BP community,

I am attempting to break into the MF space but having difficulty finding lenders that will lend on properties that are not valued at $50k per door/unit. I have spoken to a few national private money lenders who would not lend because of this criterion. Does anyone have any pro tips or recommendations on lenders that will lend even when this criterion is not met? Also, can someone explain to me the process of the appraisal, and how this may affect lending terms? I have found that many lenders are flaky and do not get respond in a timely fashion and in that time, the opportunity I was looking at is already under contract. I'd love to work with a couple lenders who respond quickly.

Thank you!