All Forum Posts by: Eric Johnson

@Adam Sankowski for deals you can use an excel template. Shoot me an email I can provide it to you

@Adam Sankowski This would be a commercial product around 75% LTV on purchases (70% LTV on cash out refis). These are underwritten like CMBS loan, fnma/fhmlc would not buy a loan like this, you are correct on that.

Good post Chris. Straight to the point. Can't wait to see what happens next. 

Investor occupancy have the highest interest rate spreads and are the lowest priority right now. Usually with higher closing costs and discount points to get a lower rate. 3.50% is good, but my bet is you're paying 1.50-2.00 discount points? If it makes sense then take the deal haha.

Investment properties are having higher interest rate spreads because owner occupied deals take priority, specifically:

1. Purchases

2. Rate/term refis

3. Cash out

4. Second homes

5. Investor occupancy

Wilson, you can get up to 95% LTV on conventional financing, which includes 90, and 85% LTV as well. I would inquire about those options. What are your purchase prices? Consider lowering those. You're in this to make money, not to buy in the best neighborhoods (exceptions to this rule apply).

Dawn, you will need to search for financing specifically for this. VRBO/short term rental financing is the terminology you're looking for here.

Brian, I don't think $800 would be an issue to establish a line of credit on a paid off investment property right now. If that's your only option, I would take it. Doesn't sound like too much of an issue if that means having access to liquid funds for more acquisitions.

Hal, if you have the opportunity to go 80% LTV on commercial assets, then that's an absolute win, as I know pretty much no one is doing full 80% LTV commercial deals. Are these SBA Loans/owner-user? I know SBA 7a deals are competitive right now.

Is it an individual appraiser or are they with an AMC? Usually AMCs can get things turned around faster because they have more efficient operations... You can request a change to an AMC appraisal service, which would 100% be acceptable by the lender.