All Forum Posts by: David N.

LONG TERM RENTAL LOANS

David Nunez

Constructive Loans, LLC

Business Development Consultant

1801 S. Meyers Road Suite 210 | Oakbrook, IL 60181

(312) 628-1162 Direct

[email protected]

Hi Matt,

I have something you can use. Send me your email address and I'll forward you a spreadsheet.

Best,

Long Term Rental Loan Program

• Property Types: Residential 1-4 Units 

• Term: 30 year Fixed or 5, 7, & 10 year fully amortizing ARMs 

• Rates: As low as 6.49%

• Purchase or Rate & Term Refi: 85% LTV

• Cash Out Refi: 75% LTV

• Occupancy: Tenant-Occupied Only

• Prepayment: 3 year (3%-2%-1%)

• Seasoning Requirements: Call for details

• DSCR Requirements: 1x

• Loan Amount: 1.5 Million

• FICO Score: 620 minimum

If you have a large portfolio you're looking to purchase or refinance. We'd love to hear from you!

Hi Jessie,

I might be able to help. Message me for more information.

Best,

Congrats on your closing! I've been doing this a long time both on the conventional and commercial sides, and it's unfortunate, but there will always be hick ups.

I'm going to play devils advocate. Yes, it stinks you needed flood insurance the day of closing, but that should be a red flag for you. There are gaps in your process of vetting the property. I always recommend a business plan for every investment/asset.

The business plan should include a comprehensive checklist all expects of the deal including all expenses, and your exit strategy (if applicable). 

I also work with new investors, and for the new investor, I'm not just your lender. I am also your advisor/educator for all things real estate. I'm continuously learning in this business so I don't know everything, but by putting things down on paper. It helps to capture all the little details of the deal. You know the old adage. The devil is in the details.   

I wish you much continued success!

Sincerely,

Hi Stephen,

I can help with future deals. Message me for details.

Best,

Hi Paul,

I can help you. Please feel free to reach out.

Best,

Hi Keenan,

I can help you. Message me for more information.

Best,

Hi Louis,

I'm a national private money lender in IL. I can lend up to 90% of the as-is value if you have experience -at least 2 projects in the last 3 years. I'll also fund 100% of the rehab work on a reimbursement basis. Message me if you are interested in a quote.

Best,

Hi Jorge,

I'm a national private money lender. I might be able to help. Please feel free to reach out.

Best,

Dave