All Forum Posts by: Dylan M. Davis

The best thing to do is ask the lender about their specific process. I'm always transparent with my clients about rate locks, credit checks, etc. because I know the timing of such things is important! For many lenders this depends on the property and borrower... That's why it's important In my opinion to not jump from one funding source to the next because the process may be quite different at each.. 

Hey there, bridge financing is a good way to go on this! When is closing? Let me know what your experience has been like in Indiana.

For your next purchase, would you consider a hard money lender or private debt? Do you have enough liquidity to cover a 20% down payment? Hard money doesn't consider your DTI (debt-to-income) it only is qualified on the property financials, borrower liquidity/credit/experience. And the great thing is, servicing doesn't see your names attached to the loan, therefore allowing you to take out as many loans as you'd like with little impact to credit.. (unless a default or judgement occurs of course)

FYI, Lenders will consider your experience when qualifying you for financing in the future and living in the investment property you own won't be considered. I don't want to steer you away necessarily from house-hacking, just know that if you ever do hard money down the line (which is the best to scale your business  IMO) we won't consider a house hack as management or investor experience! Just something to consider! 

I used to be a broker so I have a lot of experience with different lenders. I could tell you who my clients complained about the most and how my company is radically different! Sorry I violated your rule here but I consider myself as an END user due to my broker experience. I agree Roc and Lima are just.... ok. 

We're a private company that issues debt to investors but we're hard money which sounds like you're straying away from for some reason! We don't run your credit multiple times, anybody that's going to give you a mortgage will need you to provide a personal guaranty at closing which requires credit and background. If you're looking for someone that will just write blank checks to you, this isn't the industry! 

Hey there, we're not located in Texas but would love to take a look at your deals! What are you working on and what do you need? We do bridge financing as well as rental DSCR loans for growing your portfolio. let me know what you're looking for and we will get started.

Hey Ikenne, would love to help. We're a direct lender out of NYC working with investors like yourself. We can do DSCR loans based off of property income. As well we can do unleased cash-outs at 3 months of seasoning but the leverage is adjusted down. These are business-purpose loans so having an LLC is encouraged.

Hey there, would love to chat! We do MFR financing all the time for investors.

If you're talking about how lenders make their money, almost all lenders sell their loans to loan buyers. This keeps the lenders liquid and not holding loans on their balance sheets. I work for a direct lender out of NYC.