All Forum Posts by: Daniel Christopher

Quote from @Jason Sung:

HI,
I have a house in DFW with no mortgage (free and clean) and rented to a tenant $4000/month. It is a mid-term rental and the current lease contract is for 4 months (while the tenants fix their own house) but can be extended.

House market value is about $450k and there is no mortgage now (free and clear). I want to cash-out $300k. I contacted a lender and they cannot do it since they want at least one year lease contract. 

To pull cash out of the investment home, what would be the best for me? FYI, I have credit score 750+. 

Sounds like a great opportunity to lever up this property and redeploy capital into a new investment. My company, Host Financial, sponsored the first ever MTR Summit by Jesse Vasquez in April this year so we understand the space and are #1 MTR lender out there. 

You can check out our interview with Jesse and Rafa here:

;t=164s&ab_channel=TheBigBreakShow

In addition keep an eye out for the Bigger Pockets episode hosted by Jesse (Sponsored by Host Financial) next month on the topic: STR to MTR

Quote from @Account Closed:

I've heard some people are not big fans of condotels as in an investment, but putting that aside, does anyone have any good lenders for the MGM Signature in Vegas? Intending to put 25-30% down. We will use unit as investment and vacation for family and friends.  Any input on best financing options would be appreciated.  thanks in advance.

Some DSCR lenders do condotels. I've quoted some purchases and refi at the MGM at 75% although most lenders will cut LTV to 70% for condotels.

Quote from @Bryan Hancock:

It's been a while since I did a rate/term refinance for a SFR that we'll hold for investment. I spoke to someone today who specializes in BRRR refinance loans with a scenario where one of our controlled entities will do a hard money loan to another one of our entities for a rehab. We'll then renovate/rehab and rent it out after we refinance to get our cash out.

I was told that 75% ARV is what lender's appetite is for this type of loan if we're using a conventional loan right now. Accurate? Are there other options with a shorter term possibly? Or are there other options with a higher LTV and reasonable rates/terms?

We'd prefer a low loan constant with low rates, but I'd like to know of the other options if they're available. Anyone have recent experience with this type of loan product to give me the lay of the land?

75% Rate and Term is possible with DSCR loans and 80% as well but there is a high rate adjustment I've seen at that 80% leverage for loans I've quoted recently.

Quote from @Scott Bidwell:

Hello. I am new to investing.  I am trying to find our how to get into brrrrr.  While I don't have a current income, I have good to excellent credit. 

I am in the middle of closing on my own first home, which is $450,000.  I lost my job in November.  But I have cash available, aprox 1.5m.

I would like to get conventional style lending so I can minimize my cash investments and maximize my speed to growth, and get to work on finding my first of 10 properties within 3 years.

love to get some insight,  creative ideas, or just flat out honesty of my options.  

Sounds like the perfect scenario for a DSCR loan. I recently wrote about it as one of BP's featured lenders if you want to learn more about the mechanics of it: https://www.biggerpockets.com/blog/dscr-loans-the-short-term...

Written in the perspective of the STR lender but is good for LTRs and MTR strategies as well.

Quote from @Marcus Jimenez:

Hell Bigger Pockets Fam, 

I am wondering if it is legal to sell an investment property that I am currently under my personal name to my LLC via a DSCR loan. This would transfer title to my LLC and allow me to technically cash out refi + force appreciation a bit. Curious if anyone has tried this.

Thanks! 

Why not refinance via a DSC R loan and just change the name on the title to an LLC at closing? We've refinance mortgages off of peoples personal names into an LLC plenty of times before.

Depending on the county/local tax guidelines you may have to pay a transfer tax.

✅ Fast & Easy Qualification

✅ Qualify With:

1. Actual or Projected STR Income (AirDNA/Rabbu)

2. Credit Score

3. Liquidity (When Needed)

🚫No W2's, Tax Returns, or personal Debt-to-Income Ratio required.

✅ Up 80% LTV on Purchase

✅Cash Out Refinance 70% of ARV (3-6 months) or 75% of ARV (6+ months)

✅Rate & Term Refinance 75% of ARV (3-6 months) or 80% of ARV (6+ months)

✅ Properties Up to 10 Acres

🚀Use the Actual or Projected STR Income (@airdna ) of the property to qualify.

- We can accept projections from our partners over at AirDNA via our Short Term Rental Revenue Calculator which pulls data directly from AirDNA's Real Time Data

Request a quote in as fast as 60 seconds: Short Term Rental Loan Quote

Or

Visit Our Website For More Information

✅ Fast & Easy Qualification

✅ Qualify With:

1. Actual or Projected STR Income (AirDNA/Rabbu)

2. Credit Score

3. Liquidity (When Needed)

🚫No W2's, Tax Returns, or personal Debt-to-Income Ratio required.

✅ Up 80% LTV on Purchase

✅Cash Out Refinance 70% of ARV (3-6 months) or 75% of ARV (6+ months)

✅Rate & Term Refinance 75% of ARV (3-6 months) or 80% of ARV (6+ months)

✅ Properties Up to 10 Acres

🚀Use the Actual or Projected STR Income (@airdna ) of the property to qualify.

- We can accept projections from our partners over at AirDNA via our Short Term Rental Revenue Calculator which pulls data directly from AirDNA's Real Time Data

Request a quote in as fast as 60 seconds: Short Term Rental Loan Quote

Or

Visit Our Website For More Information

✅ Fast & Easy Qualification

✅ Qualify With:

1. Actual or Projected STR Income (AirDNA/Rabbu)

2. Credit Score

3. Liquidity (When Needed)

🚫No W2's, Tax Returns, or personal Debt-to-Income Ratio required.

✅ Up 80% LTV on Purchase

✅Cash Out Refinance 70% of ARV (3-6 months) or 75% of ARV (6+ months)

✅Rate & Term Refinance 75% of ARV (3-6 months) or 80% of ARV (6+ months)

✅ Properties Up to 10 Acres

🚀Use the Actual or Projected STR Income (@airdna ) of the property to qualify.

- We can accept projections from our partners over at AirDNA via our Short Term Rental Revenue Calculator which pulls data directly from AirDNA's Real Time Data

Request a quote in as fast as 60 seconds: Short Term Rental Loan Quote

Or

Visit Our Website For More Information

✅ Fast & Easy Qualification

✅ Qualify With:

1. Actual or Projected STR Income (AirDNA/Rabbu)

2. Credit Score

3. Liquidity (When Needed)

🚫No W2's, Tax Returns, or personal Debt-to-Income Ratio required.

✅ Up 80% LTV on Purchase

✅Cash Out Refinance 70% of ARV (3-6 months) or 75% of ARV (6+ months)

✅Rate & Term Refinance 75% of ARV (3-6 months) or 80% of ARV (6+ months)

✅ Properties Up to 10 Acres

🚀Use the Actual or Projected STR Income (@airdna ) of the property to qualify.

- We can accept projections from our partners over at AirDNA via our Short Term Rental Revenue Calculator which pulls data directly from AirDNA's Real Time Data

Request a quote in as fast as 60 seconds: Short Term Rental Loan Quote

Or

Visit Our Website For More Information

✅ Fast & Easy Qualification

✅ Qualify With:

1. Actual or Projected STR Income (AirDNA/Rabbu)

2. Credit Score

3. Liquidity (When Needed)

🚫No W2's, Tax Returns, or personal Debt-to-Income Ratio required.

✅ Up 80% LTV on Purchase

✅Cash Out Refinance 70% of ARV (3-6 months) or 75% of ARV (6+ months)

✅Rate & Term Refinance 75% of ARV (3-6 months) or 80% of ARV (6+ months)

✅ Properties Up to 10 Acres

🚀Use the Actual or Projected STR Income (@airdna ) of the property to qualify.

- We can accept projections from our partners over at AirDNA via our Short Term Rental Revenue Calculator which pulls data directly from AirDNA's Real Time Data

Request a quote in as fast as 60 seconds: Short Term Rental Loan Quote

Or

Visit Our Website For More Information