All Forum Posts by: Jordan Bean

Hey @Luka Milicevic here is the event page. This will be my first time attending, but I am headed there with some experience lenders in the real estate investment space. https://events.imn.org/event/b...

Hey all, 

Anyone attending this event? I will be running a booth at the conference with some coworkers. Would love to connect and network with anyone who might be attending! 

@Javier Rosales it depends on how long you plan on being in this investment for. if you are buying a property, rehabbing it, and flipping it.. could be worth taking higher interest and less costs, because you plan on being in and out of the property. If this is a long term hold type of investment, considering paying more up front to lower interest is a great option. Over the long term, you will in fact spend more in interest at a higher rate, than what it costs you in points if you chose to lower the rate.

Hey @Maddy Lakshmanan

I have seen a lot of lenders that I partner with start to cut back on LTV in certain areas due to declining markets and this area being one of them. like @Sean Bozigian mentioned, if you plan to hold these properties this could be a really good time to buy. It seems like the inventory is super low though, so I would imagine its hard to find deals in that area. I think if you can find the right deal at below market price, it could be worth investing. A client of mine owns a few STRs in the Pheonix area and they bring in great revenue.

just my take on your current situation 

JB

Hey Kenny, seems like you have some good equity in both properties 1 & 2. You could do a cash out deal on a debt service coverage ratio loan. You could blanket them together on one loan at 70% LTV an get roughly 105K in cash after your current payoffs. A lot of my clients do this method to then use that money as a down payment on another property. If are you interested in seeing what a quote would look like on a refinance. I would love to chat I have rates at 6.9% fixed on DSCR. We are a real estate investment company, we own close to 800 rental properties and Fix & flip around 100 properties per year. I have been in the lending business for 7 years, but just getting started in Biggerpockets, and I am looking to connect with different investors.