All Forum Posts by: Ann Covey

Ok, folks who are excellent, easy DSCR companies to deal with. Reputable and you have had personal experience with? And go....

Great point @Tom S., ty!

Also, I have read something about a bigger down payment, but wondering how this works if I were to assume the existing loan? 

I assume the bank looks at the property and income towards the debt to income ratio as well? Probably a better banker question. 

In looking for my next investment I came across a property in Florida that has an Assumable Mortgage. Now while I am aware of what this means I am curious what the real scoop on these are. Pros vs. Cons and what did you wish someone had told you before you got involved in one? In my research it sounds like the note gets placed in my companies name, what about deed? Any input would be greatly appreciated.

Also, rates for property management in Fl.

Sent a connection request

I want to thank all those that reached out to help me with the commercial lending suggestions. I just got word yesterday I am approved through a local community lender.

Thanks,

All!!

Hi @Eddie Gonnella and @Dan Weber,

Nice to meet you both. I am hoping to hear from Bar Harbor Bank this afternoon with a definite yes or no. I have worked with Camden National for our PT business and currently getting months delays with TD Bank. I reached out to Bar Harbor to get things moving. I would love info on bankers who work well with investors and aren't shy in this market. Any info is great. I am new to the forum so I will try to DM if I can figure out how ; )

Howdy Folks! 

I am excited to connect with like minded folks. I am a Dr. of Physical Therapy and own a few clinics in the Bangor, Maine region. I am interested in investing in multi units in my state as a start, we own a single family investment now as well as our business building. I am in the process of closing a deal on a 10 unit, but finding the financing process tricky compared to other years doing commercial deals. I am not new to commercial financing as pertaining to running my business, but have a lot to learn about what the banks are looking for the increase my multi unit acquisitions as well as what fixes add actual equity into a property.