All Forum Posts by: Julia Lyrberg

Hi Taylor, yes we typically require a down payment on our hard money product. It usually ranges from 10-15% depending on experience.

Hi, DSCR lender here!

Since we're just 2 points away, we can work with the borrower to do a rapid re-score. This process helps identify which credit cards need to be paid down and by how much to reach the desired FICO score. Once the borrower makes the payment and provides a receipt, we can qualify them based on the updated rapid re-score. Feel free to shoot me a message!

Hi Kristi,

If you plan to hold the property for the next 5 years, opting for a 5 year prepayment penalty makes sense, as it will significantly lower the rate. Buying down the rate with points is a personal choice, but if you're holding the property long-term, it can definitely be worth it for more stable cash flow.

Hi Gregory,

Exceeding your DTI ratio can make it difficult to qualify for a conventional loan, but if you haven't considered DSCR loans, they could be a great alternative. We don't require tax returns, income verification nor do we have any DTI requirements.

I'd be happy to chat more or run some numbers for any property you're interested in financing!

As someone living in Austin, I’d recommend looking elsewhere. It’s a great city and still appealing for people moving in, but there’s a big oversupply right now in terms of housing (rents dropped by 8% last year). Prices are getting close to California levels and it might be difficult to find tenants with all the competition out there. I'd suggest looking into the Dallas/Forth Worth area instead.

One great tip I received from Rob Abasolo is to invest more into your existing property to maximize revenue. Short-term rental guests love entertainment, so consider adding features that make your property more appealing. Enhancing your current property can often give a higher ROI than purchasing a new one. Get creative! If you need help with ideas, You can upload photos of your property to ChatGPT asking for ideas of how to make it more attractive to tenants.

Hi Nina, great tips!

Investing in your local market is, of course, ideal, but it can be out of reach for many first-time investors. While investing out of state can be more challenging since you need to put together a local team, it also offers many rewards and can make it easier for new investors to get started!

If you can't visit the property yourself, I recommend having some 'boots on the ground'—someone you trust who can visit the area, walk around, and send you videos. A realtor could be an option, but keep in mind that they may be influenced by their commission. It might be helpful to find an unbiased party you trust to help you.

Hi Sandra,

If possible, it's best to visit the area in person, as many details can be missed when doing research from afar. If you can't make the trip, I recommend having some 'boots on the ground'—someone you trust who can visit the area, walk around, and send you videos. A realtor could be an option, but keep in mind that they may be incentivized by their commission. It might be helpful to find an unbiased party you trust to help you.

Hi Josh, I'm a lender with Easy Street Capital. Would be happy to run some numbers on this deal!