All Forum Posts by: Brandon Croucier

Is the property stabilized or is it a value add?

Just call a local real estate attorney , they will draft up a note and deed of trust for you for a fee :)

I'd save yourself from the headaches and just buy it with a DSCR loan.

This is a hard money product,you typically just need a 10-20% down payment, funding will be 80-90% of Purchase Price + 100% of rehab cost.

AS LONG AS THE TOTAL LOAN AMOUNT IS LESS THAN 70% OF THE ARV

Once the project is complete you can then refinance into a DSCR loan.

Investor friendly lenders specialize in the acquisition of investment properties typically.

What is the issue? Is your DTI too high to qualify A paper/conventional?

Primary Residences do require licensing in the state of Virginia so most of us here on BP will not have that.

Call up a local mortgage broker and they should be able to assist you!

Is the property stabilized or are you looking for a value add play?

Do you have experience owning multifamily commercial? 

Depending on your goals, your experience , liquidity/net worth will determine the right product for you.

Is your goal cashout or just better rate & terms?

It depends on your goals, I would say outsource the management & hold the asset as nobody has regretted owning real estate on a long term basis. 

You could easily get 75-80% LTC on the cabin build meaning you'd need about $200,000-$250,000 CASH, to complete the project.

Take 200k out of the FL house, build, rent, refi & payoff the FL property again would be my best bet about going about it.

20% down is terrific on land.

It's a non income producing asset which has increased volatility, typically I see 65 LTV max on land as of late.

Well how long has it been since you’ve made a payment. 

Due to your payment history it's going to be tough to refi out into something more conventional or a DSCR.

Hard money is your best bet but that’ll cost you.

If your selling, drop the price and you’ll bring in more demand.