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All Forum Posts by: Anthony Freeman

Anthony Freeman has started 88 posts and replied 326 times.

Can you name a few sources where potential private lenders can pull capital from to invest with me?

Quote from @Neil Sherry:

@Anthony Freeman there are many NO INCOME VERIFICATION real estate investor mortgages available .


 Is there anyway you can guide me in the direction of lenders you know personally that have actually lent on no income verification terms.

Quote from @Muhammad Patel:

Do you have a business?  Are you filling schedule C or K1. If so this could be used a period of income.  If not then the non-qm options might help.  

My business is real estate investing. I do not have an outside entity.
Quote from @David M.:

@Anthony Freeman

Well... Do you have any reportable income?  You do realize that you, as well as many others, can obtain financing with 1099 income, for example?  Or, are you already retired in some way and no longer working and independently wealthy?

Everybody "always" jumps to DSCR and asset based loans, etc.. But they are more expensive generally than getting a conforming loan. Of course, better for those lenders wanting to sell you one...

Good luck.


 I have found evidence of low term dscr loans recently.

Quote from @Donna Lazar:

Everyone saying DSCR but not focusing on the benefit which is that it has the option of amortizing or low interest-only payments. I would say DSCR is an option or getting a hard money refi. It all depends on what the goal is, if you want to sell the property or continue renting. If you want to rehab and sell, hard money. If you want to rent out, DSCR. Soon as you get a W2 income, after few months you can refi conventionally, although that really doesn't matter at this point as DSCR rates are similar as conventional rates and they might even be more attractive due to the benefit being interest only. Last thing to mention, credit is important and all investors look at it (aside from location of property and LTV) to determine risk and therefore rate.


 I am looking into that step now because if the terms are not better than a conventional loan I will have to look into refinancing again once meet the criteria in this case.

A 5-10 year loan must have an exorbitant monthly payment

Quote from @Mike Dymski:

Be sure to have reserves and/or the ability to quickly get a job with excess cash flow; otherwise, a non-paying resident, HVAC system, roof, etc. could lead to loosing the property.


 Cash reserves are good I wouldn't take the risk if they were not right now.  I was simply concerned with expanding and leveraging consistently. Are you involved with Rental Properties?

Are you successful at raising private capital?

Quote from @Jacob St. Martin:
Quote from @Anthony Freeman:
Quote from @Jacob St. Martin:

If you don't have any w-2 income you have two options. If you want to refinance into a conventional loan you will need a cosigner. This is normally a tricky thing to find unless you have a family member with a high paying W-2. If you don't have that you could look for someone to cosign more as a partnership. Maybe you give them a portion of equity and cashflow for cosigning. 

Your other option is to do non-conventional financing. I would need more details to know exactly what the best move for you is but more likely than not a DSCR loan is the way to go. They will look at the finances of the deal, not your personal finances and will lend accordingly. This can get a little trickier if you don't have a proven track record as a real estate investor or proven track record of income for the property but if you have one of those it should be no problem. Even if you dont have one of those if you offer someone with more experience part of the equity/cash flow in order to be in on the deal and give you more credibility that works too.


 I do not want to get anyone in trouble so educate me on any regulations if I am incorrect please. Can you pay someone to cosign?


 To my knowledge yes you can! 


 Wow ok thank you. I am really starting to appreciate this community 

Quote from @Erik Estrada:

Hello Anthony, 

If this is an investment property, you may qualify for a DSCR loan. Lenders qualify you based on the rental income covering the new mortgage payment. No DTI or Personal tax returns are required to qualify. You may go up to 80% LTV on Cash out refinances.

Thank you, that clarified some things for me.