All Forum Posts by: David Lee

Thanks Rush. I'll call around and see what they say.

@Stan Sugarman Thanks for the suggestion!

@Chris Seveney These are all in my name.

@Curtis Rouse Jr That's the plan! :-)

Good afternoon,

I've been an active RE investor for several years now in the Atlanta area and currently own 7 single family detached rentals. Each property is mortgaged and has a fair amount of equity at this point. I'm looking to cash out refi, but lenders are taking issue with my personal income. All of my rentals have been cash flow positive since we took ownership and my vacancy rates are sub 10%. I can show upwards of 5 years history on almost all rentals. Finally, I have 6+ mo cash reserves for all rentals. In the past, I've not had any issue getting investment loans and found it somewhat odd they are looking so closely at my personal income, but so far this has been my issue.

Does anyone have any recommendations for how I can go about finding a lender that will work with me based on the equity and cash reserves I have?

Thanks Andrew! I'll post over in the GA forums as well.

Ohh ok. Well that's good to hear then.

Agreed. Thanks for the feedback. I'll figure something out. Like you said, it's just a question of where I want to take the hit.

Limor Capital One has an interesting set of products. Not sure about their requirement that I incorporate. That's an extra expense I'd prefer to avoid. Also, the 2-3% hit on the mortgage rates is pretty rough. That said, it is nice that they don't check debt to income.

Thanks Ed! I'll check it out.

Thanks. I've not had much luck with credit unions myself. Most in my area don't do investment loans.

Also I'm int the Atlanta area if anyone knows anyone I should talk to locally.