All Forum Posts by: Edna Salinas
Edna Salinas has started 2 posts and replied 14 times.
Post: What do you think of syndicate sponsor Goodegg Investments?
- Posts 14
- Votes 6
Quote from @Steven Rosenfeld:
After 10 months I cannot claim to be much of an expert on syndication but here’s what I did. I read Brian Burke’s book and concluded I wanted to go with a syndicator who was vertically integrated in all phases and also geographically concentrated such that they were experts in one location. Goodegg seemed to me to be more of a private equity company working with operators around the country and that didn’t sit well with me. I did one investment with BAM Capital - they are Midwest focused and Indianapolis specifically. Early days but so far no issues. My plan is to diversify my syndications by finding similar players in other good locations. Hope this has been of some help.
Post: sources of DSCR lending
- Posts 14
- Votes 6
Quote from @Robin Simon:
Quote from @Jonathan Pflueger:
DSCR loans are pretty standardized since they primarily go into securitizations, so a guaranty is typically 100% always required. Lenders do differ a little bit though if there are partners, for example, if lending to an entity (like an LLC) we require guarantees by at least 50% of aggregate total ownership but if you own 25% of the LLC you do not need to provide a guaranty
Post: sources of DSCR lending
- Posts 14
- Votes 6
New to DSCR loan. Does local credit unions do DSCR lending, or one must get it through broker or a loan officer? I am in Phoenix area, any suggestion of good source for that? Thanks.
Post: Question about DSCR
- Posts 14
- Votes 6
Quote from @Patrick Lao:
Having a reserves will afford flexibility and sometimes will be a requirement depending on FICO, LTV, & Loan Amount.
With these non-QM DSCR loans the rules are always changing so the best course of action is to submit your scenario to a good lender that will look at your specific criteria. The ratio may not really be an issue.
If your interested in I can help can take your scenario and have it underwritten quickly and find out if it will be approved and if so with what conditions.
Are you a mortgage broker? If I present my scenario, will my credit history be pulled for check at this point? I plan on DSCR but not sure of the timing ( 2 vs 4 months)? but I'd like to know some reference for consideration. Thx.