All Forum Posts by: Deborah Wodell

awesome discussion

Great questions, Tolise!

For me, a big part of choosing lenders comes down to flexibility and transparency. I work as a broker and investor, so I’ve seen how important it is to have options depending on the deal. Some of my clients prioritize speed, others want the lowest rates, and sometimes it's just about finding someone who actually understands the project.

I work with a solid group of lenders across the country, and I’ve found that the best relationships are the ones where communication is fast and the terms are clearly laid out—no surprises at closing.

As for fees vs service? Service wins every time. A slightly higher fee is worth it if the lender can actually get the deal done smoothly.

Wow, Jason — that's incredibly frustrating. Thanks for sharing this, it's a good heads-up for others doing STR/MTR DSCR loans. I've run into similar issues where lenders baked in terms that conflicted with the actual use case, then claimed it was "just boilerplate." You're absolutely right to avoid signing something that could limit your flexibility down the road.

Curious — did they disclose that lease term clause upfront at all? Or was it something that only popped up at closing?

Totally valid concern, Nicholas — good on you for being cautious. One way to vet someone is to ask for references from past clients or closings they’ve funded. You can also check if the company is registered with the state or if they’re listed with any lending or broker associations.

If you're still unsure, it never hurts to get a second quote from another lender or broker just to compare terms and make sure everything checks out.

Hey Mike — great question! 👋

If you've got VA eligibility, that's a powerful tool — especially for house hacking a small multifamily (2–4 units). Long-term hold strategies tend to win out in wealth building, especially if you're getting in with little or no money down and locking in a low rate.

That said, flipping can absolutely work in this market if you’re experienced and buying way below market — but margins are tighter, holding costs are higher, and exit prices aren’t as predictable.

If you're new to flipping, it might be worth using that VA loan for a solid cash-flowing rental first, let it stabilize, then use the equity/experience to scale into flips or more units later.

Hey BP fam – I’m working on a deal for a client looking to do a cash-out refinance on a unique rural property in Sanford, FL. It’s zoned A-1 agricultural, has a main SFR + a permitted ADU on-site and an RV.

Goal is to refi at 70-80% LTV, pay off a partner, and hold as a long-term rental. Property is rented with actual income of around $5,250/month (not including RV), with an appraisal in the $850K–$900K range.

Has anyone closed on a similar setup, or know a lender comfortable with this type of rural/ADU configuration?

Hey Josie! For that $15K rehab gap, you might want to look into an SBA Microloan — they go up to $50K and are often used for smaller business needs like this. Some investors also bridge the gap with 0% intro credit cards or business credit lines (just be strategic with those).

Also, there are hard money lenders who can fund both purchase and rehab — where you’d just need to cover the down payment and closing costs.

If single-family isn't in your buy box, selling and using a 1031 to roll into a small multi could help you scale faster — especially if you can pick up 2 with the proceeds + your extra capital. But if it cash flows decently, a cash-out refi using a DSCR loan could keep it in your portfolio and free up funds to reinvest.

Line of credit is a good idea too, but not every lender offers that on rentals — especially in rural areas.