All Forum Posts by: Jason Million

@Edouard Pierre  You might be best to put each property separate commercial loans.   

25% down with no personal income verification. Just using the properties DSCR.

Conventional financing can be much hard bc of the DTI restriction and with you being self employed makes it harder bc they will use your 2 yr avg AGI on your personal taxes.

Just my thoughts.  It's been my experience that I was able to get commercial deals funded much easier.

@Ross Drucker  If you hold all your properties in a entity, to me it makes more sense to finance them commercially.  It allows you to free up your personal credit for things you want to do personally.  If your truly running a business you will keep business totally separate.  To me this also means debts too and for real growth past the hobby investing you'll need to resources in commercial funding. 

In the commercial financing world is not about your personal income but does the property cash flow and Debt service. DTI isn't even in the equation.

And to answer your question yes I have had good experiences in Commercial financing usually quicker and easier on 1-4 unit than conventional financing. 

Feel free to reach out if you have more in dept questions!

@Kat N. I can help on you.  Feel free to reach out. 

@Stephen Sokolow yes you can do a HML down to 50K in indiana. Let me know if you have questions.

Reggie Maggard you can do a low doc commercial loan cash out on the property up to 75% of fair market value. No seasoning requirements. So you can recap on you money. Let me know if you have an questions.

I have an option to do up to 75% LTV of fair market value no seasoning requirements. Cash-out Refi.

Recap and reinvest 

its a straight commercial loan doesn't report on credit, no income docs either, close in your entity.

It's unfortunate, all my investor who lend in small towns require 4 yr for bk and the one who don't care about the BK time won't lend in small towns!  catch 22 

It's possible to do a cross collateral too, he owns several properties.

I'm looking for a true private money for rental property in a small town (pop of 2500) in Indiana. needing about 85K for a balloon that needs refinanced. 70%-75% LTV just need to do short to even long term (if possible) rate&term refi. this is a SRF currently rented, debt service is a 1.1

My Client had a previous bk ch 13 discharged 2+ yrs ago  so it make this deal unbankable. Other than that credit is fine.  

Please let me know if anyone has a lead on some private money for this!

Fully occupied and under contract Rental.  Property Tax are $490 yrly.  Motivated to sell.  This is 10 minutes outside of Muncie IN. Newly updated and in good shape.  No major repairs needed. Great buy! 20K OBO.