All Forum Posts by: David Bilandzija

@Monica Soyemi You can look into being creative with the financing by combining a seller carry back loan with hard money financing.  The limits will vary from lender to lender/deal to deal.  Try expanding the lenders you are speaking with to include private portfolio lenders.  Good luck.  

@Christopher Murphy A fellow loan originator that I work with had her offer accepted over an all cash offer.  Her offer included financing and she came in slightly lower than the all cash offer.  She mentioned her licensing and that she'd be handling her own loan.  Won the deal and closed 30 days later.  It can be done depending on circumstances.  

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,500
Cash invested: $12,500
Sale price: $204,000

Long term rental property purchased in 2004 with bank financing. Took a 90 LTV loan and made a handful of cosmetic improvements. Because I was an out-of-state investor and new to real estate I hired a property management company and watched my investment sit vacant for three months. Eventually, I ended my relationship with the management company and rented the property out on my own. Hired my own maintenance people throughout my 14 years of ownership.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,500
Cash invested: $12,500
Sale price: $204,000

Long term rental

Financing these properties with conventional/bank loans isn't always an option.  I help facilitate financing these types of deals.  The options available to investors and borrowers are better than ever.  

Loans are designed for residential non owner occupied properties, i.e. single family residences, condo, townhome, 2-4 units

Program Features: 

* Simple Documentation, no tax returns, no DTI, no debt coverage ratio requirement.

* 600-650 min FICO Credit 

* Purchase/refinance up to 75% LTV $75,000 - $10million

* Rates range from 3.99% - 8.25%

Long term

* 30 yr fixed, flexible prepay

* 1-10 years customizable/flexible interest only & 30 yr term

Contact me with your questions.

David Bilandzija 6 2 6 - 4 8 4 - 0 1 8 2

Investor Property Loan

@Casey Caton I work with a direct lender that finances adult care/assisted living facilities.  Caveats to getting these loans done are 1) they must be residential properties 2) must also be non-owner occupied.  

The terms are flexible and borrowers have plenty of options, i.e. long term, short term, fully amortizing, interest only, etc.  

@Ashley Corbett Hi Ashley, yep we lend in NC and OH.  Sent you a message.

@Jackson Speaks I can work with those values based on a portfolio loan.  Sent you a connection request

@Slade S.

Yes, debt service loan (DSCR) or an asset based program - I think you are headed in the right direction considering your W2/income status. There are programs out there that ignore your personal income and will even ignore debt coverage on the subject property.

@Holly Hudson My reason for asking, the commercial lender I originate loans with doesn't extend credit in IL.  We are in neighboring states though.  If you think it might help you out, I wouldn't mind generating a conditional loan approval for you.  No strings attached, just trying to help out a fellow member of the BP community.