All Forum Posts by: Eric Johnson

Hi, you let the loan officer know and it would be "investor occupancy." Your pricing will still be higher than owner occupied. 

Experience, credit, & assets (liquidity). 

Some other really good points were made. Cashflow per door is one metric to look at. If you want it to be a criteria for acquisitions, you can. Same with any other metric, they are all subjective in the course of action an investor takes. That being said, targeting $150-$200/door is realistic for a C+/potentially B- asset. Assuming some conservative underwriting.

Hi Desmond, is this property a legal two unit? Happy to give you some insights

Looks normal. Increased rates on conventional loans for NOO investment properties are to be expected. Paying 4k for a 3.25% right now sounds reasonable. Or you can save 2600 and go w/3.625. It depends on your context and what you think is best. If this is a B class asset and above I would say pay more for the interest rate, I am assuming you will hold longer. You get capture more benefit of the lower interest rate the longer your holding period.

Good luck on closing something

EDIT: If you don't have any second or third opinions, why not get them? It takes almost no additional time to do. Get at least 3 options to see what variance there is, if any. 

 Yes. it depends on the assets though. What's the collateral and what's the exit strategy? 

@Mary Lopez It definitely depends on your scenario and the details. You can still reasonably expect to find financing for those asset types. Is it prime? no. Does it get the deal done & a building in your name? Sure does.

Hello Jonathan, expect 80-85% initial acquisition with 100% construction on holdback. Refi is an asset-based 30yr loan, 6 months ownership seasoning required to pull market value. 9.25% on bridge and probably about 5.00-5.50% on the refi. 

Hi, at this point you'll want to go commercial. You can get 30 year fixed or something like a 5/1 Hybrid arm (fixed for 5 years then adjusts based on an index after 5th year w/ a ceiling and lifetime cap). 5/1's usually have a lower interest rate by about 10-30bps (basis points). 

There is no limit to how many properties you can finance, since it is asset-based. Common asset-based pricing right now is around 4.85-5.75%. Hope this helps.

@Steve K. thank you for the tag! 

@Joshua Zamora please reach out to me, see signature for email deets. Thanks