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All Forum Posts by: Devin Peterson

Devin Peterson has started 67 posts and replied 1546 times.

Post: Best Short Term Rental Loans - Miller Mortgage

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571

Work with the best MTR-STR / DSCR brokers in the industry!

#🥇 in product fitting and satisfaction - Don't just settle for any ordinary MTR-STR loan. Let us evaluate your scenario to find the right product for your STR needs

#🥇 in applying a creative underwriting approach - Have seasonality income adjustments? NO PROBLEM! We will accept it!

#🥇 in finding creative ways for FIRST-TIME INVESTORS to qualify their MTR-STR!

🚀 Why are we truly different?

✅ Industry-leading service and speed

✅ Over 500+ lending partners across the United States

✅ Our private search platform allows us to obtain the best terms for your deal

✅ We provide more than just loans - get unmatched customer service and continued guidance

👉 Check out our website:

https://millerhomelending.com/

👉 Use the best mortgage calculators:

https://millerhomelending.com/mortgage-calculators/

👉 Schedule a FREE consultation:

calendly.com/devinpeterson

Post: Best NON-QM Broker - Miller Mortgage

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571

Work with a team that has over 60+ years of combined mortgage experience.

#🥇 in creative non-traditional banking solutions!

#🥇 in client relationship fulfillment!

#🥇 in service and speed!

🚀 What do we offer in the NON-QM world?

✅ Asset Lending

✅ Profit + Loss

✅ Bank Statement Loans

✅ 1099 - IDC Loans

And MORE!

👉 Check out our website:

https://millerhomelending.com/

👉 Use the best mortgage calculators:

https://millerhomelending.com/mortgage-calculators/

👉 Schedule a FREE consultation:

https://calendly.com/devinpeterson

Post: Mortgage Brokers - DSCR and NonQM

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571

Jonathan, this space is my bread and butter. More than happy to connect and provide any insights or answers to questions you may have!

Post: Brokerage Insurance Needed

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571

Does anyone have a good resource for insurance agencies or reps that have products that cover surety bond insurance? Mainly looking for insurance for a brokerage firm.

Post: broker and lender suggestions? Beach front STR

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571
Quote from @Chris Seveney:
Quote from @Devin Peterson:

need a lending outlet suggestion for this property.

2 unit ocean front STR

689total sqft

3+ years of STR history

Hair - there are NO other 2-plexes in the area, and appraisers have been using 3,4,5 units etc. that are 25+ miles away which is making the AERS report flagged for warning / total gross adjustment are like over 120%

Basically at this point looking for a self-serviced bridge lender who won't care about comps/appraisal so the borrower has time to find something more stable.


 fact that its two units and less than 700sf is going to make is very very challenging.This will need to be a balance sheet lender. What is the property value, where is it located, what are they asking to borrow.

We did a loan recently on something like this, but it was a bear to underwrite and appraise so we did not go above 50% LTV


It's around 60-65 LTV with the cash out amount they are seeking. Payoff amount only would make it roughly 50-55%

Post: broker and lender suggestions? Beach front STR

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571
Quote from @Erik Estrada:

Do you have a completed appraisal on this property already?


Yes  

Post: broker and lender suggestions? Beach front STR

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571

need a lending outlet suggestion for this property.

2 unit ocean front STR

689total sqft

3+ years of STR history

Hair - there are NO other 2-plexes in the area, and appraisers have been using 3,4,5 units etc. that are 25+ miles away which is making the AERS report flagged for warning / total gross adjustment are like over 120%

Basically at this point looking for a self-serviced bridge lender who won't care about comps/appraisal so the borrower has time to find something more stable.

Post: Any recommendations for a great mortgage broker in Cincinnati?

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571
Quote from @Elan Adler:

Hey all! Sorry this isn't a detailed post, but I'm looking for a recommendation for a rockstar lender in Cincinnati. I currently own a few properties in the Southeast, but I'm looking to buy my first property in Cincinnati. I'm interested in 1–4 unit properties under $500K. I can put down a large down payment and am looking for a Conventional or DSCR loan.


 Elan, some of the best commercial and investment brokers may not necessarily located in the location you are seeking but can provide tremendous value. I recommended having a look at the preferred lenders tab or take a look at some reviews for investment-specific brokers. Good luck!

Post: Loan after rehab

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571
Quote from @Derek Bell:

I have a commercial building that I bought for 800k last December. Currently doing a renovation on it. Reno will be about 650k. So, after I’m all done I will have 1.450m into it. Just got half the building leased and other side will be leased soon. I will be about at 220k Noi nnn once the other side is leased. Thinking of taking on bank debt instead of 1031. Don’t really want to sell. I wouldn’t have to pay taxes on the bank $ would I? How does all of this work on the back end? Usually I take a loan at the beginning so not familiar with it. 

I would connect with an experience Commecial loan broker you should have some expansive options here.

Post: Multifamily Lender for Mississippi Needed

Devin Peterson
Posted
  • Lender
  • Posts 1,657
  • Votes 571
Quote from @Marshall Smith:

Im searching for a Multifamily/ Commercial Lender in Mississippi.

Sale Price: 300k

I have 10 years experience as an rental investor, and going after my first Multifamily.


 Marshall, lots of option here - more than happy to connect!