All Forum Posts by: Ioulian Stoitchkov

Hi Erik,

No appraisal yet - rehab will take another month and in the past the appraisal was ordered by the lender as part of the refi process.

I'm doing some planning once work is complete as to your point there are a bit of challenges in the market at the moment.

Hi all,

I am looking for DSCR lenders that operate in the Baltimore market. Preferably, those lenders accept rental income from AirDNA as the property I'm looking to refi is on the higher price range.

Thank you!

Thank you for the additional insights - hopefully this clears out relatively quickly

I have been thinking what impact this will have onto appraisals for future DSCR loans. On one hand, appraisals are based on actual sales so maybe not a lot. But on the other, if the sales prices have been impacted by bubbly appraisals, this could lead to lowering of prices

Thank you both - that’s quite a situation. 

Curious to hear if there are any new developments. My guess is that lenders will wait a bit until this gets sorted out before resuming with their loans

Hi there,

I am getting some messaging that lenders are beginning to see Baltimore market as being overinflated in terms of valuations and as a resulting are pausing DSCR loans. Does anyone have any insights on why that may be? I cannot see anything that stands out to me but probably I'm missing something


thank you,

Ioulian

Thank you all for the great info!

Hi all,

I'm looking for hard money lenders ok to lend in Baltimore, MD who do not need min of $100k of total loan value. I recently came across few projects that would be in the $80k loan value (purchase and rehab). The hard money lenders I have been using required $100k min loan.

Thank you!

Thank you for the quick replies - super helpful and appreciated!

I have followed up with folks individually. 

Hi there,

I'm looking to do BRRRs in Maryland and Baltimore and looking for a hard money lender. Here is why I'm posting this here as I have already done some research on my own:

1. I am looking at properties who may need larger rehab budgets than the purchase price and trying to find hard money lender who would be open to finance deals like that. I have spoken to a few HMLs and they appear to cap the rehab budget to the purchase price. 

2. Alternatively, I am open to finance part of the rehab myself but that requires the HML to be open to that option

Any thoughts would be super appreciated!