All Forum Posts by: Jason Taken

Hi looking to get DSCR loan for a few of my STR properties. They are condotels. Any recommendations? Any places that do not have prepayment penalties or have lower LTV requirements? Thank you

Gm all.  I’m looking to get information to help me to my investing career to its next phase.  I have 10 paid off properties that I would like to put permanent financing on to get cash out to reinvest. My credit is not good and I’m wondering if there are any options for me using just my llc.  If not, I have several people (mom, sister etc ) that I can add to the company that have good credit.  I’m looking for any and all help.  Thank you all.  

Spoke to a colleague of mine who recently lost their father suddenly and has no interest in his property. I mentioned putting in a cash offer on the house with the hopes of wholesaling and they are motivated to do so. The only problem is that I was a little too late. During the conversation she revealed to me that they recently started the probate process and that the bank said it would be a year until anything can be done with the property. My question is, is there any way around that and what can I do in the meantime to either expedite the process or stay connected? Thanks everyone!

Moratorium and then months just waiting for a court hearing in Illinois. 

Hi everyone,

I'm wondering if you have heard of any short term lenders (terms < 5 years) that are open to acting as mezz debt in a deal and also supporting renovations for sub-1M loans? I haven't found many who offer mezz debt and generally it comes with multi-million dollar loan requirements for large multifamily properties. I'm not sure how common this is, but I'd like to know. Feel free to drop any recommendations for specific lenders if so.

Hello everyone,

Does anyone know of a lender that does 20% down on a DSCR Loan?

I closed on 14 properties in the Springfield, MO area at the end of November using a portfolio loan. The bank that we used just told me that they have frozen making any new loans and so I can't just get my rehab money from them. I have lots of equity in these properties. I'm looking for suggestions for how to finance my rehabs. I was counting on using the equity they already have. My partner and I are considering doing cash out refi or heloc through another bank or institution. Is this the best course?

Trying to do a house hack in my market which is Florida I want to use a FHA for a 2-4 unit but the inventory is very low and purchase price very high but there are plenty single family. Would it be wise to get a single family under market value with enough equity put a heloc on it and use the cash from that to do a BRRRR on a run down multi family then pull the money out with refinancing? Seeking advices from the wise owls on BP. Thanks

I am interested in DSCR financing and curious if anyone had any recommendations? Duplex and 2 mobile homes currently generating 2600 per month with rent increase potential to 4k per month+.