All Forum Posts by: Brandon Croucier

It depends on your goal.

If you WANT to sell the property, don't refi just sell as the cost will not outhweigh the savings.

But if you want to keep the property, you'd want to do a cashout refinance and get into a long term loan :)

Hey Yakir, there are plenty of HML's around here.

I am happy to connect !

Hey Matthew, DSCR is going to be your best bet here.

 Depending on the details & size of the deal, including your experience, FICO, personal financials will determine a significant portion of the kind of financing you can receive. 

I recommend working with a mortgage broker as commercial acquisitions are extremely tough to navigate, let alone for someones first time.

I am happy to connect & go over the details.

Just have a lawyer draft the documents, get them properly signed & notarized, make sure they are recorded, then you can disperse funds.

Just don't forget the lawyer part ;)

Are you licensed NMLS?

I would go work for a broker/direct lender on a volume basis.

You learn by DOING.

Get a job in the industry and put in the work.

Hey Gil,

I was located in DFW for some time, happy to connect!

Theres plenty of lenders around here who can help! Happy to connect!

I've seen cases where people "purchase" a home with seller financing but end up never being owner on title. They rehabbed the whole thing and never had a legal binding vested interest in the property. Always consult attorneys.

Are you 100% sure your on title?

Plenty of Hard Money Lenders are willing to work with new investors.

But that doesn't mean they are going to lend outside of their parameters.

The most common issue I see with new investors is subpar credit & sufficient working capital.

These things are necessary to mitigate risk for a hard money lender.

Once these things are in order, you could be off to the races !

Something like this is almost certain to guarantee high rates.

If the deal is profitable, who cares about the rate.

Look at your COC return & decide if the deal makes sense for you.

If a deal yields 12% COC with a 10% interest rate, thats still a better deal than a deal with a 9% COC at a 7% interest rate.

This thinking comes from an abundance mindset rather than a scarcity mindset.