All Forum Posts by: Austin Ojimgba

@Angelo Russell Yes is doable i can help you with that just let me know when you're ready to proceed. I can share more information's on our JV/Equity funding programs.

@Angelo Russell, i believed you've heard what everyone is suggesting to you and i think is the right step. JV & Syndication are two different ways. When you make up your mind on the right part you want to follow and it happens to be through JV/Equity i will be glad to assist you. We have several JV & Equity sources Minimum amount is $5M and the sponsor needs to have good track record/experience. If you do not have such record you will need to get a partner to join you.

@Jamie Rosen I'm completely blaming the Lender for your situation cause they are suppose to know during underwriting of your deal the property is a Manufactured home. 

How can a Lender provide you terms without knowing what type of property they are lending on, did you fill out an Application form at all if i may ask?. cause there must be a portion on the application form that will indicate which type of property you are purchasing.

The mistake i see from your part is not having a Financing contingency in your offer cause it would have made a lot of difference. Piece of advise not all Lenders lend on Manufactured Home,there specific lenders that specializes only Manufactured Home so in case of next time you can look for those specific Lenders for Manufactured Homes,if you need help locating one i can help you with that. 

@Christina Morales how much do you currently have as a Down Payment? and how many units? . If you’re looking to purchase or refinance Apartment/multifamily property — comprised of 5 or more units — in need of value-add rehab or currently turnkey ready, our Multifamily loan program is perfect for you.

Our loan product is industry leading, requiring a low down payment, and the ability to roll fees and closing costs into the loan.For Value-Add opportunities Loan-to-Cost (Purchase): 80% Loan-to-ARV (Refinance): 70% Interest Rate: As low as 8.375% For Stabilized Properties Loan-to-Value: 75%

Cash-Out Refi: Available (60% LTV Cap) Interest Rate: As low as 7.375%.

This unique loan program provides you with the flexibility and leverage to capitalize on multifamily investment opportunities nationwide, whether it’s a value-add project or a short-term hold for seasoning purposes. I will be glad to guide you through the financing process send me PM so that we can connect and discuss further.

@Johan Yang,

Definitely this is a Pure Scam stay far away,they have not asked you for any upfront fee does not mean that they won't ask. After the Application form,you will receive an approval letter and there you will see the fee pop up lol. Trust me stay away and stop every communication. If you need help with a Loan,there several legitimate Lenders here to assist you. 

@Aaron Goetsch,

I'm independently working with Lima One as an Approved Broker.I strongly believe that Lima One has the best Rental Loan programs which i think is suitable for your deal scenario.If you have interest send a PM with your contact and i will send you further details regarding all their Rental Loan Programs and assist you moving forward.

@Lawrence & @Cedric, Please both of you shouldn't turn this into a fight,from what i understand the $100K Lawrence mentioned was just an example not the real cost of the 12 SFR. Lawrence just like everyone else here has suggested it is almost impossible to get a Lender that will be willing to roll the down payment into the Loan so owner financing as suggested here might work another option you have to secure the down payment is using your Credit Score assuming its up to 600+ You may be qualified for $20K- $150K or more.

       Funds can be used for anything,there is no restriction on the uses for funds.Let me                know if this is an option you might like to explore and i will provide you more details. 

        There is no upfront fees of any kind,i hope this helps.

@ Ross Mcghie,

I think you have a good deal but you stated on the report that $40K is if for rehab but did not disclose exactly what the rehabs are. I have sent you a connection request,i can assist you with funding on this deal let's connect and discuss.

@Scott King,

I think our  Rental 30 Loan program will be perfect for you,here is the overview:

Rental30 Loan Overview

Term Length: 30 Year, Fully Amortized
Interest Rate (ARM): 6% – 8.275%
Property Types: SFR 1-4/PUDs/Condos
Single Property & Portfolios
Minimum Loan Amount: $50,000
Maximum Loan Amount: $1,000,000
Maximum LTV: 75%
Minimum Credit Score: 660

Debt-to-Income for Borrower: None.

If interested send me a Private message with your email and request for our Application form and i will send across to you to get you started. We have several other Loan programs as well.

@AJ Brown

Welcome to BP!.

We can provide 50% Cash Out: for properties owned for 90 days or less AND owned free and clear.Term Length: 13 months.