All Forum Posts by: Dan Gamache

@Cian R. I agree with @Stephanie P. you will need to do refi/rehab loan first, which will most likely be hard/private loan that will require property held in LLC. After rehab is complete you can seek out long term financing, most banks will require 6 months ownership, some private lenders ok at 90 days.

@Robin Casper I'll PM you. You should be able to find lender to go to 75LTV of appraised value at 90 days of ownership.

@Alexander Hogarth In order to assist, need a little info. What is the purchase price & property type?

@Zab Khan what was the purchase purchase price, rehab $ budget, and after repair value? Those are the main determing factors for this type of loan.

Nationwide private lender! Feel free to contact me with any Investment Property financing needs. We have programs for Fix n Flip, Buy & Hold (30 year Fixed Rates!), as well as Multi Family (5-250 units). We also do New Construction, Bridge Loans, and Mixed-Use projects. 

****We now have Brrrr Financing that will start as FixnFlip and then convert to 30 year Rental Loan****

@Remone R. the issue I see is with the values of the property, most lenders wont go that low. Also, you have a mix of rental ready & rehab properties so you can't do a portfolio loan on all of them. You could try a local bank/credit union for financing on the 11, and the 6 that need rehab you could possibly do a fix n flip loan and then refi after rehab is complete. Definitely not an easy deal to finance.

@Matt F. what are the approx value of the properties?

@Matt F. you can go to 75% of new appraised value at 90 days of ownership 

@Steven Cobb commercial/private lender will allow you to refi to 75% of new appraised value at 90 days of ownership.

@Dennis Parslow 401k loan is totally acceptable for downpayment in the hard/private money world. Doesn't affect credit.