All Forum Posts by: Craig Latham

Thanks James. Do you know of any lenders in the CLE area that will do the refi without seasoning?

We are willing to entertain a conventional 30 year. We purchased for 185k and will have 30k in rehab. Comps in the area are upper 200s to lower 300s

My partner and I just closed on our first deal (3 plex property in Cleveland) after a year of education and 6 months of analyzing and making offers. Its been fun and now we are learning more than we ever have by jumping in. We are now faced with a hurdle to our strategy and are looking to see what others have done in similar cases. We purchased the property cash and planned to BRRRR the property to repeat..... The property sits in one of our names, but we have a LLC. We would like to transfer the property to our LLC and then refinance or take out of line of credit. I am having difficulty finding a lender that will lend even a 70% LTV to our business without taking the lessor of the appraised value or purchase price prior to a 1 year seasoning. We had hoped for 70% LTV on the ARV. Should I keep the property in my name and do a residential HELOC or refinance against it or are there better alternatives to BRRRR to avoid the 1 year seasoning?