All Forum Posts by: Jack Mawer

Briyanna, have you looked into Champions or Acable Agent? These are two of the most recommended options. I have used both for courses and exam prep and they truly provide you with knowledge needed to pass the test. 

Joe, rates are rising and we should expect to see more of this after we hear from the new FED meeting today. I would expect to see rates in the 7's in the near future...

 No, a rate-term refinance. This is designed to where you are not getting additional cash out, but you are getting near the amount you have to payoff for the existing loan with a better rate.

I agree with Andrew here. It would be nearly impossible to find a lender willing to give you 85% LTV for a cash-out refinance currently. A HELOC to cover the rest could be your best bet.

I think it would be hard to prove cash flow to the bank, you may want to look into a DSCR loan. Most lenders can use projections to underwrite the deal. Good luck!

Hi Claudia, I would recommend a DSCR loan for acquiring an STR. I would look at AirDNA to check rental revenue, occupancy rates, etc... Another factor to consider when you are choosing STRs is if someone would be renting it out during the whole year as opposed to a seasonal area. Best of luck!

John, due to the current market it is very tough to find 80% LTV, that is, without incurring excessive fees. Most shops are going up to 75% LTV. You have encountered lenders recently that are giving 80% LTV?

Hey Sean, what range of purchase price are you looking at? 

Joseph, are you set on books? I've heard a lot of people talking about how beneficial the podcasts are on BP.

Scott, people still use hard money as a term. You could also call it a fix/flip, or construction/bridge loan.