All Forum Posts by: Andrew Zamboroski

Hi, long time follower, however not too much on posting.

Goal: I’m looking to purchase a 3 family property in central CT.

Position: Currently I own two condominiums that are under an LLC. Both will appraise around 180-200k each. Both are rented. One has no mortgage, their other has a HELOC for around $20k remaining and is coming to its 10year term that was established before placing with LLC.

My predicament is how/best way to pull equity out of either property for a down payment for the 3 family that is valued around $450k.

Any advice, guidance is greatly appreciated!

TY

I have 7 rentals with a total available equity of roughly 800K. I am trying to purchase a mobile home park that is already in a system of Mobile home parks that profit 87 percent for the last 15 years. I am thinking I should use a DSCR loan. can anyone help me with this process

Good morning,

I’ve come across a renovation property available at a significant discount and would like to secure it without going the traditional 6-month financing route. We estimate the project will take less than 3 months to complete.

I’m exploring alternative short-term financing solutions and would appreciate any advice or recommendations on options that might work well for this type of project.

Thank you in advance for your insights and assistance!

My client recently purchased a home with a hard money loan and have successfully rehabbed it for use as an Airbnb rental. It has been operating for 2 months now. Our lender has informed us that we need 12 months of rental history to use the actual rent for financing purposes, or we must rely on the appraiser's fair market short term rental value. The challenge we're facing is the lack of short term rental data for the appraiser, and we won't know if it will meet the debt service coverage ratio (DSCR) requirements until the appraisal is complete.

Has anyone dealt with a similar situation? Do you have any suggestions on how we can secure long-term financing under these circumstances?

Thanks in advance for your help!

I'm looking to secure a HML for a fix n flip in Florida and for now and am only looking to secure for the purchase price only and handle the rehab costs myself. One of the side benefits is that I can avoid the whole draw/inspection process (not overall inspection, just the ones tied to the draws) and don't have to worry about draw fees. I imagine the whole process is simpler but can anyone tell me how different it is when you don't borrow the rehab costs? I'm guessing they want some sort of updates during the rehab.

I came across this "PML" via facebook and everything was going great until it came down to the day. I was maybe getting the property under contract. He wanted me to paypal him 750 so that he would send the 20k needed to bridge the gap in the loan.

Hi, I'm researching financing options for non-US citizens who wish to purchase multifamily investment properties - around 4 units to start with, for example. 

If you know of any lenders or if you are one of them, please feel free to reach out. I prefer public comments here before you send a direct message, though. 

I work outside of the US (Hong Kong), making slightly north of 100k per year, with scheduled salary bumps of approximately 4k per year. 

Thanks. 

As the title suggests, I am just starting to enter the REI world. My first deal looks like it will fall through because the bank doesn't like my work history. (4 months as a union electrician, which the bank considers contract work). I am wondering if any lenders or knowledgeable investors know how feasible it could be to get a DSCR loan as a first-time home buyer/investor. I am 21 with excellent credit and have enough/will have enough for the high down payment they require. I know and am prepared to do all the overhead work necessary to find a property that will qualify, but I just want to know if it is possible in my situation. If so (and even if not), I would love any recommendations to a loan officer in the metro Detroit area.

Thank you in advance,

Aaron Raffaelli

I have a home under our names. I want to cash out refinance and close it under our LLC as DSCR mortgage. Its being operated at STR from last 30 months with great cash flow. Please reach out if you are a lender or can connect me.

5 Bed 2 Full Bath & 2 Half Bath

Existing Mortgage ~$550,000

Home Value ~$1.1+ Mil

I'm curious on peoples go to approach to secure financing for an investment property - use a broker? start w local bank or CU ? or even a local brick and mortar bank?