All Forum Posts by: Bradley Davis

@Joel Kleyer @Darrian Phillips I'm assuming this is just for a primary residence, though. I just called and they said they don't do any loans against investment properties 

@David D'Errico thanks for the tip - I have a property with them and have dealt with Jeanne, she was quick to say they'd only entertain a cash-out refi (that would include price of reno, which sucks!), and only over 10 years. Think I'd have any better luck with a different person?

@Darrian Phillips similar situation with me, it was with a local bank in Mt. Vernon that doesn't go outside their area much and held the mortgage on the house

our interest rate was ~5% for 10-15 years (I need to check). We would have gladly accepted a 20 year at 6.24% too as long as there wasn't an early pay-off penalty 

@Joel Kleyer thanks for the tip. Is this for your primary residence though? 

Hey all!

I was in the Indiana market for a bit and have an amazing lender with a small bank who would do 85% LTV loans on investment property. Unfortunately, he is unable to loan across state lines in KY. I renovated a property here and am looking for a line of credit or equity loan based on the newly appraised value. I've tried 10 lenders and so far no one wants to touch an investment property. I also have looked into Key Bank but they don't service Kentucky. Any ideas? Thanks!

My first post here, hello!

I am working on my fourth Airbnb property deal and have found an individual interested in funding the initial down payment/reno cost for a stake. My company will do all the deal sourcing, renovation, management, etc.

The investor is interested in tying the investment to cashflow (less interested in equity because the properties aren't worth a ton) and wants to have a more long-term relationship vs. just debt.

I haven't found any similar scenarios so here's what I've come up with and I need help!:

40-60% gross revenue (after cleaning fees) for either 2 years or until the investment is recouped then 5-15% cut in perpetuity. 

I want to make this deal worthwhile for both parties as this investor is willing to reinvest in future properties. My biggest roadblock is figuring out what to do if/when we decide to sell the property. Anyone experience anything like this or have an opinion? Thank you!