All Forum Posts by: John Broussard

You would have to do a cash out refinance on the property you just purchased with a lender that does not have any seasoning requirements and will accept the 359,000 value.

What city and state?

There are other options that require less financial documentation, a majority of the investment property loan don't require any financial information from the borrower other than bank statements. The loans are based off of the property debt service which will determine the LTV range allowed up to 80% of what the property qualifies for. Stated income loans are available as well for investment property purchases and refinances. So there are two options available for investments properties, the loans can also be done under LLC's.

5

Blanket Loan do exist, LTV's go up to 75% with minimum property values around 50K and minimum loan amount of 100K

That is correct in Texas no heloc's on investment properties, you can cross collateralize an investment property or just do a refi cash out up to 75% LTV.

Its is true you will get better rates using your personal name instead of buying under a corp or LLC. Investors are being more aggressive as far rates and LTV's when buying rental properties under a company name and you will not be killed by the rates. There are a lot of alternative lenders out here with competitive rates.

There are programs that allow for stated income and No Ratio Loans available, loans are based on DSC on the rental propertie. Down payments range from 20 to 30% depending on your credit score, Refinances and Cash Out are also available. Rates start a 6% up to 8's, 30 yr fixed available or 5/1 or 7/1 Arm

There is financing available for LLC's 30 yr fixed terms and 3 - 5 - 7 year Arms. Most of the loans are Stated Income, No Ratio Loans that are based of off the debt service. You also have Blanket or Landlord Loans available for portfolio's.

There are asset based loan available that are based off of the collateral or stated income and no ratio loans available for fix and flips, purchases, refinances and construction.

There are a few Real Estate Groups and meetups groups that you can learn from, The Rich Club is one and a few others that charge fees or you can go to meetup.com and search the different networking events in Houston, Jet Lending host the biggest one once a month, great place to network, meet lenders, wholesalers, real estate investors seeking partners and there is free food and beer. White Pickett Realty hold one once a month as well at St Arnolds Brewery in downtown Houston.