All Forum Posts by: Dustin Lauer

@Dave Craig Bank 7 is local. I’m a lender even but bank’s are great in some markets and OKC is one in my opinion.

@Marcee Stephenson

I think Stessa is free so might be worth looking into.

@Chris Seveney I’m using the trial now as a lender mostly though

@Annette Barnett 6.75 is still available to rate lock without buy downs *some days* but probably not worth the downpayment required.

Buying new construction rentals right now is excellent timing! Deals starting to arise finally!

@Annette Barnett leverage = loan to value

Indy is great.  If you can invest near recently renovated properties you can get some nice uplift to your values, even in cash flow submarkets.  I do a lot of financing in IN, where I grew up actually.  Speedway is hit or miss but all around it has been good for long term landlords primarily. Found this interesting video online.

Hey Andres (funny we have a client with the same full name in Orlando :) ). Bigger Pockets has a list of lenders active in NJ that you could check out.  If you see a project you can also look up in public records who the lender is to reverse engineer it.  I do similar loans but not often in the North East.  Most hard money lenders charge interest only on the drawn funds, so it's often not a bad way to finance larger new construction projects.  Definitely worth checking local commercial banks if you see that they are active.  Builder Finance and CoreVest are active as direct lenders for similar projects.  

some lenders will do DSCR loans on short term rentals, but if you have a great 1st mortgage that you want to keep, it's probably best to stick with your strategy of looking for something subordinated if you can secure it. Best of luck Kyle

@Ahmed Mahmoud. Apply for a loan with a large lender that doesn’t do a hard credit inquiry at least initially and ask them what they think of it for you. Or market it as a wholesale deal and see how the market reacts to your listing.