All Forum Posts by: Benjamin Hirsh

Andrew

Thank you. This is very high level, but very valuable information.

3 questions

1. You said you need an investor friendly lender who does not have seasoning requirements? Is there such a lender who would allow this? I mean, is that not essentially the same thing as finding a lender who allows for a BRRR (whether or not with hard money) or delayed financing - without a seasoning period? If so, how do you even raise this topic of 'just rehabbed a property with a loan and want you to refinance with no seasoning' to a lender?

2. This is all presupposed on the bank's appraisal of the property, correct? I mean - you can't just ask them to refinance a loan (even with unfavorable terms) that is much higher than expected appraisal? Not suggesting that this was your suggestion - just curious, you can't inflate the loan terms and hope that the bank will refinance at 100% of what you put down for the initial purchase price and rehab costs, ie., it will still be 75% LTV no matter what the initial loan terms were?

3. You said lender's speak to each other. What do I do if a lender calls me to ask questions? Also, as an out of state investor? I would have to personally go there to make sure the deed is recorded, correct?

Have a property in Sorrento Florida under contract. Looking for recommendations for property managers.

Thanks!

Have a property in Sorrento Florida under contract. Looking for recommendations for property managers.

Thanks!