All Forum Posts by: Craig Yarnell

@Amy S. is based out of St. Augustine FL and would be able to help! 

@Jordan Jacks  can assist with start to finish commercial funding solution, using acquisition and value-add short term bridge that can mature into long-term rental debt. 

@Jordan Jacks has a solid bridge program for acquisition and value-add commercial multi-family. 

@Doreen Hall  - Depends on when you plan to do the cash-out. Immediately after you acquire with your cash so that you can reimburse purchase funds and finance rehab(delayed financing)?  or after property is already rehabbed, stabilized, and tenant occupied as you go into long-term rental financing. B2B commercial residential loans have some interesting nuances for sure, but cashing out on as-stabilized value is fairly simple after 6 months of seasoning on title. If you switch from personal name to entity or vise versa, that would restart the 6 month seasoning clock. 

Hi Joe, delayed financing is certainly an option after you acquire the property in cash. Most of the time if you pursue the refinance immediately after the acquisition lenders will offer same leverage even though it is technically a cash-out refinance. Some Lenders may reduce by 5-10% but if you are including rehab in the financing you can recoup the majority of your cash invested. May be too late for this particular transaction, but you can also look into a Line of Credit as a financing option through a private lender. This allows you to put "HM LOC-same as cash" on your offers to be competitive with the cash buyers. Hope this helps. Thank you

Hi Doreen, typically with 6+ months seasoning you can explore a debt-service-ratio refinance that will allow you to cash-out up to 70-75% of the stabilized value depending on Fico and rental income. These types of loans are not government subsidized loans in a personal name however, so if possible I would recommend taking title in an LLC or business entity at time of acquisition to meet the seasoning requirement even if you move forward with cash. Thanks

Hi Sandy, agree with Dante. We lend on multifamily commercial properties in Ohio for non-residents but they do typically require a foreign entity registration if your business entity is registered in a different state than the property. 

@Jordan Jacks has a strong Line of Credit program and can lend in both MO and KY

@Sam Martin has an 80% LTV rental program depending on qualifications and esperience.

Hi Brian, is this a buy and hold or a value add project?