All Forum Posts by: David Robinson

@Dave Spooner Whats the goal for combining the 4 rentals into one? If your looking for easier mortgage management with 1 payment or getting cash out for the next investment, I work with multiple commercial lenders that can help. Your existing rates are good, but if you have another goal in mind the rates may be higher but still worth it.

@Kaja Baum I work with multiple commercial lenders that can help with financing with less than 6 months seasoning, will be glad to help. Lets connect some more, and Go Bills, Hey-ayyyyyyy-ayyyyyyyy-ayy!

@Joseph Lavoie My experience with FHA 203k rehab loan was not good,but it could be good with the right lender. Do the research and make sure the lender knows 203k program well,and have closed that type of loan recently. My 203k loan failed 1 week before closing, in my opinion because the lender either didnt know or didn't want to do the extra work, even after I took the time, and did the groundwork required with "approved contractors". I bought the house without the rehab loan, did the rehab for half the price myself, but it did take longer.

@Daniel Stanojevic I have been self-employed and it was very difficult getting financing for my primary residence. I have never used a bank statement loan but did some research and found some lenders available with a higher down payment and higher interest rates. I ended convincing my contractor to mske a w2 for a few months to get approved for an FHA. If your buying investment properties with an LLC, single to multiplex, I work with multiple lenders that can help. Let's connect and I will be glad to help.

@Lewis Guest If you only have 3 years left on 5 ye note, why refi, why pay fees, underwriting, processing,ans others. Pay it off,unless your wanting to take cash out for another investment.

@Scott Frame Is it an in house lender, as in the appraiser only works for that bank or lender, they can charge what they want depending on the circumstances.

@Stephen Schear I found a fillable form online last week for Operations Agreement for Georgia online, they may have other states as well to help, I am not a lawyer,but it may save you some money and time. Search the www for the state you need and Operations Agreement and you should find a feee form or at least a good example.

@Alex Folchi You should be able to refinance out of the balloon, butnyou never know what rates will be on 2 years, but there is a good chance they will be lower than the balloon loan. Some lenders offer an extension if the balloon period ends and you dont redi, with a fee,sometimes hefty fee. Have you spoken with other lender that may be able to offer 30yr terms with an LLC? Lets connect I will be glad to help some more.

@Christian Sidaros You may be talking to the wrong lenders. I work with multiple lenders that will allow the owner to carry the down payment and works with first time commercial investors. Some lenders are looking at the deal,will it cash flow, and your credit, versus how much money you make or have. I love creative financing, and helping people get good deals, lets connect and I will be glad to help.

@Justin Pumpr Just do it. If your this close to closing, you have done the research, dont get analysis paralysis, just do it. Have you checked the average market rent, is the market hot enough that you could rent for a little more? Having the experience opens up the doors, pun intended, for more deals, even better financing. Is there a chance to turn it into a duplex, or add value?