All Forum Posts by: Issac San Miguel

No I do not think it is impossible - There are a lot of questions that need to be answered.

What is your FICO?
What is your investing/fix and flip experience?

Where is the property located?

What is the purchase price and rehab amount?

What is the ARV?

There is a lot to unpack here.

85% LTC is easily attainable if you have experience and a good FICO.

Here is the kicker - 5 door puts you in a category of needing to have a few other 5+ doors or 4 units in your REO history.

Feel free to reach out if you have any questions.

20% - I am thinking you ran into an issue with the DSCR.

 Sure, but where? What city will the STRs be located?

Interest Only is an option on long term debt - best rate would be on a 5/1 arm - it has a 10 yr IO period available.  After 10 years, it is a 20 year amortization on the remaining term.

No, the cash out is debt, not considered income.

As a private lender, the first thing I can tell you on this is - don't build spec homes in a rural area.

FL, NC, SC

DSCR wouldn't work with a buy and rehab.

This is a fix and flip that will refi into a buy and hold.

Good Luck!

I would cash it out on a 3 yr prepay. Rates likely in the 7s at that low of an LTV.