All Forum Posts by: Brandon Croucier
Brandon Croucier has started 2 posts and replied 626 times.
Post: Cash-out refi to buy a new home
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Plenty of good lenders around here on BP.
Happy to connect and see what we can do!
Post: Looking for financing with 60 day late
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Hi Henry, there are products out there but the rate isn't pretty.
A way to structure it would be buying it down to a 1 year prepay, then after 12 months (assuming you don't accumulate anymore lates) refi you down into a traditional DSCR loan with better terms.
Happy to connect!
Post: Investment Loans (DSCR?)
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Mid term rentals are some what of the odd man out when it comes to DSCR guidelines.
There are guidelines which utilize short term rents, and guidelines that utilize long term rents.
You can use the projected income on a short term basis to qualify for the loan if the number work right.
Post: Financing Mixed-Use Commercial Properties with SRO Units and seller financing
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Hi Michael, on a purchase SRO is something that can be done for mixed use. What is the purchase price? On a refinance is where you are going to run into trouble.
Happy to connect!
Post: DSCR Cashout Refinance for Mixed Use Property
- Lender
- Nashville, TN
- Posts 687
- Votes 279
There’s a product for it, the rate isn’t pretty because the low value.
Happy to connect!
Post: Private lending in land development
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Quote from @Kamlesh Kukreja:
We have a contract but no collateral. Active till the end of this year.
Well if you have a contract they are not living up to, then you need to serve them. There has to be a lawyer willing to do it; call every lawyer you can, I bet you can find one!
Best of luck!
Post: Carrying costs loans
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Well there are construction loans that essentially bundle the monthly payments into the loan. Not sure if you'd qualify. Another option would just be a cash out on another property to free up some liquidity.
Happy to connect!
Post: Private lending in land development
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Honestly, if you lent someone money with a handshake and no liens. You are SOL, take it as a learning experience.
Post: Vacant lot w/income producing billboard lending options
- Lender
- Nashville, TN
- Posts 687
- Votes 279
This ones a Private/Hard Money Loan
65% LTV is probably your cap on this one
Post: Looking for Hard money lenders
- Lender
- Nashville, TN
- Posts 687
- Votes 279
Are you looking to flip this property, what is your end goal?
Happy to connect!