All Forum Posts by: Gabriella Zettelmeyer
Gabriella Zettelmeyer has started 1 posts and replied 3 times.
Post: HELOC - Ohio- 2025- Blanket DSCR?
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Thank you so much to everyone for the replies. I’m interested in the interest only HELOCs and will just continue to call local credit unions/banks.
Post: HELOC - Ohio- 2025- Blanket DSCR?
- Posts 3
- Votes 3
Am I looking for a needle in a haystack? We have a few free and clear rental properties we would like to take a HELOC on, but with their values all hovering around $100k we would like to form a blanket loan to maximize leverage. Is this possible? Are all rental HELOCS underwritten like Fannie/Freddie or are there DSCR options out there? Not looking to do a cash out refi as we don't want to pay on the money monthly until we find the perfect property. Thanks for any tips!
Post: Buying with DSCR then refinancing with DSCR
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- Votes 3
Quote from @Nathan Harden:
Quote from @Chris Davidson:
@Nathan Harden do you have some Long term holds you don't plan on getting rid of? A Blanket loan may be a good option and you might be able to pull some equity out right away on existing properties. But like others mentioned a DSCR is likely coming with a prepay. Also if you are only doing a little work origination fees will eat you up. RE is a slow game make smart moves and calculated moves not jumping from one thing to the next. Start looking at your portfolio as a whole and work on how it perfoms as a whole vs single properties.
Get out there and get creative!
I am trying my best to get creative. The other properties that I have at the moment do not have any equity in them and they were all paid in full. They are in the middle of rehabs or the rehab hasn't started.
Doing my best to get creative. The two properties that I am trying to obtain now, I can get them for $40k each with seller financing for 2 years, 8% interest and 25% down. The problem is that I need them both to appraise for $50k+ in order for me to conform to a portfolio DSCR loan and only one of the properties needs a light rehab. The one that I will do a light rehab to should appraise for $50k, it's the other that I am worried about because I won't really touch it after I buy it because it's in great shape and a tenant paying $800 a month.
Hey Nathan, have you pulled comps to see what the appraiser would currently appraise the homes for- specifically the one that does not any work? We have DSCR loans that have no minimum loan amount that you could immediately do a cash out refinance after purchase to pull back some of your personal money. In regards to the home that you are going to do minimal work: are you able to carry that purchase price plus rehab out of your personal money and then immediately do a cash out once it is ready to pull your money back out? That would avoid paying closing costs and lender fees twice.