All Forum Posts by: Amy Zuniga
Amy Zuniga has started 3 posts and replied 10 times.
Hi. Who's the best insurance company to use during short term renvations of vacant properties?
Post: Cash out of property under 75k
- Posts 10
- Votes 2
Quote from @Andrew Postell:
@Amy Zuniga it's not that NO ONE will lend...it's just that only CERTIAN ones will lend. I didn't know this stuff when I first started either. I went to 2 lenders, they both told me "no" and I just thought that all lenders were the same and never went searching any further. And that's not the case at all. Read this post HERE on how to find investor friendly lenders and see if that gets you back on track.
Andrew, thank you! That's incredible advice!
Post: I want to cash out refi within a LLC
- Posts 10
- Votes 2
Quote from @Jason Wray:
Damein,
You can use an investment rental portfolio program, Freddie Mac or a DCSR cash out refinance program. All you have to do is just pick the best product based on the loan amount, credit score, and property type. Its always best to run pricing for all of the options to see which one has the better rates, terms and highest LTV.
Best thing to do is just have a quick conversation with a Banker/loan officer to get the pre-approval.
Do you know of any lender offering this type of lending on properties with a value of $75k or less?
Post: Refinancing a property paid off
- Posts 10
- Votes 2
Quote from @Erik Estrada:
Quote from @Amy Zuniga:
Quote from @Erik Estrada:
Quote from @Amy Zuniga:
Quote from @Chris Seveney:
@Amy Zuniga
Whether it’s owned or not in a LLc should not make much of a difference. If you own it outright it’s not a refinance - if there was no debt ever on it typically do not need to wait. But speak to lenders to confirm as every lender has different requirements
You can refinance up to 75% of the appraised value on a DSCR loan, and you can close in an LLC
Hi Erik. Quick question. Do you have a minimum? The house is valued @75k. Thanks.
If it is on a blanket loan, You can go down to a 50k minimum per property. It will be expensive though.
It's a single family home. I have 2 SFH about the same value on each. Can I combine them for a DSCR loan?
Post: Cash out of property under 75k
- Posts 10
- Votes 2
I have 2 properties, owned outright (no debt), by my LLC, valued at about $75k each. I am trying to find a way to get money out of either or both. So far no one lends to LLC's and/or no one lends under $75k per property. Does anyone know what I can do here? TIA.
Post: Refinancing a property paid off
- Posts 10
- Votes 2
It's a single family home.
Post: Refinancing a property paid off
- Posts 10
- Votes 2
Quote from @Erik Estrada:
Quote from @Amy Zuniga:
Quote from @Chris Seveney:
@Amy Zuniga
Whether it’s owned or not in a LLc should not make much of a difference. If you own it outright it’s not a refinance - if there was no debt ever on it typically do not need to wait. But speak to lenders to confirm as every lender has different requirements
You can refinance up to 75% of the appraised value on a DSCR loan, and you can close in an LLC
Hi Erik. Quick question. Do you have a minimum? The house is valued @75k. Thanks.
Post: Refinancing a property paid off
- Posts 10
- Votes 2
Quote from @Chris Seveney:
@Amy Zuniga
Whether it’s owned or not in a LLc should not make much of a difference. If you own it outright it’s not a refinance - if there was no debt ever on it typically do not need to wait. But speak to lenders to confirm as every lender has different requirements
Post: Refinancing a property paid off
- Posts 10
- Votes 2
What if the property is LLC owned?
Do you guys all have your rental properties in your own name? I can't BRRR my properties, as no one will refinance a home owned by an LLC. How are you guys doing it?