All Forum Posts by: Kyle Deutschmann

Quote from @Kyle Deutschmann:

Quote from @Michael Ochoa:

Hello everyone!
This is my first post here, I am super new to real estate investing and I'm excited to begin my real estate journey. Over the past few months, I've been diving deep into learning everything I can online—especially about DSCR loans and multifamily properties.

However, I feel like I've hit a bit of a wall. I know long-term rentals are the path I want to pursue, and I'm aiming to use DSCR loans to start closing deals and build wealth toward financial freedom. But now I'm unsure what the next step should be.

Should I be reaching out to a realtor? How do hard money loans fit into DSCR-based deals? Should I use a hard money loan to pay for the down payment, and go to another lender for a DSCR loan at the same time? How can I do the math to pay them both back? And is there anything else I should be focusing on or learning at this stage?

Thanks in advance—I appreciate any guidance!

Welcome! I'm sure you could find an "investor friendly" agent here on BiggerPockets. Hard money loans are great for purchasing properties fast that need to be rehabbed. A DSCR loan can then be used to refinance/pay off the hard money loan if you keep the house as a rental.

Is this your first home purchase? I'd personally start with a house hack if it was my first purchase - you can buy a house with 0-5% down in most cases and then use that money you save on housing to snowball into the next deal. 

I am understanding more about hard money loans with all these replies! Thanks a bunch! Yes, this would be my first time ever looking around for an investment property. I would love to do a FHA loan house hack, but unfortunately, I don't have 2 years of work history/income. This is why I was interested in the DSCR loan, with ways to come up with the down payment once I've figured out a good market/investment. 

Is there such a thing as a secured hard money loan ? If so, where do I apply ?

Also, can I trade equity in return for a fast loan ?

Are there tools available to help make the decision whether to purchase a home via seller finance versus a second home with a traditional mortgage? I'm intending to buy a home for my daughter in college and I'm trying to figure how best to compare the two options. My motivation for doing a seller finance deal is because I already have several mortgages attached to my name for other investments. Seller advertised willingness to do seller finance. I could pay cash but prefer to have available cash on hand. Stupid question, but will I still get a 1099 for interest? Thank you!

I have my rehab complete and my renter moved in to my first BRRRR. I'm excited to start the cash out refinance so I can get moving on my next property. Looking for some advice. Should I go through my current mortgage lender for the refinance or shop around? Also is there anything I can do to try to help with the appraisal process so it appraised for what I'm thinking it should?

Hello everyone!
This is my first post here, I am super new to real estate investing and I'm excited to begin my real estate journey. Over the past few months, I've been diving deep into learning everything I can online—especially about DSCR loans and multifamily properties.

However, I feel like I've hit a bit of a wall. I know long-term rentals are the path I want to pursue, and I'm aiming to use DSCR loans to start closing deals and build wealth toward financial freedom. But now I'm unsure what the next step should be.

Should I be reaching out to a realtor? How do hard money loans fit into DSCR-based deals? Should I use a hard money loan to pay for the down payment, and go to another lender for a DSCR loan at the same time? How can I do the math to pay them both back? And is there anything else I should be focusing on or learning at this stage?

Thanks in advance—I appreciate any guidance!

Hello,

I am looking to acquire a 4-8 unit property in the $1.3-$1.8M range (as a STR investment).

The property is an SRO that would not be covered by a conforming residential mortgage.

Key figures:

- Credit Score ~800

- Could qualify with my income or simply on property cashflow

- First-time homebuyer

- Several years of documented STR experience

- Looking for a 10% down option (some have suggested a piggyback HELOC + conventional investment or DSCR)

- Willing to pay for a higher rate in order to get the higher CLTV

- DSCR above 1.5

Is this possible?

Situation:

I am currently under contract for a great deal on a property in Prince George's county Maryland and quickly coming up on the closing date. However, the deal went sideways and I am in need of creative financing. Basically, the seller wishes to back out of the deal due to price reasons and will not let my traditional lender get an appraisal. Furthermore, this same house was appraised by the same appraisal company last year and noted that there was an illegal stove and microwave inside the ADU on the property. This likely prevented the sale last summer and because that stove still exists in the ADU today would prevent sales through traditional financing. I have confirmed this with my lender and they would not be able to lend due to failing the appraisal. There is also no way that the seller would remove the stove as they no longer wish to sell to us due to pricing...

To make this deal work my wife and I are planning to house hack the property and leverage primary residency to obtain more favorable long term financing and support a long term rental.

I spoke with a hard money lender today and was told that most commercial hard money lenders that work with flippers would be unable to support financing a personal residence purchase because regulations are different.

Looking for:

We're looking for a hard money lender or private lender that can help us finance a personal residence purchase for a house hack that closes on April 30th. My wife and I were prepared and approved to put 30% down and had a budget set aside for all our repairs. We just need someone to help us get into the deal so we can remove the stove and microwave ourselves and refinance this into a traditional loan. 

Looking for lenders who can loan both for purchase price and rehab with 10-20 percent down for fix and flips in Chester County area. 

Collateral-Based Loan for Active Flip Project

I’m reaching out to explore financing options specifically a bridge loan, hard money loan, or any asset-based lending product your company may offer using a fully owned investment property as collateral.

This is my second real estate flip. I’ve been hands-on throughout the process, from acquisition and renovations to budgeting and timelines. I’ve already put significant capital and sweat equity into this project and am now seeking short-term funding to bring it to completion. My goal is to complete this renovation efficiently and sell the property based on market conditions.

Due to a current credit score below 600, I’m looking for a non-traditional lending solution. I’m not asking for unsecured credit instead, I’m offering a strong equity position as collateral, with a low loan-to-value ratio and a clear exit plan.

The property is located at Wisconsin. It is held under my LLC and is currently free and clear of any mortgages. I purchased the property for $52,000 and have already invested $35,000 into renovations, bringing my total investment to $87,000. The estimated after-repair value is $165,000. I am seeking $20,000 to $25,000 in additional funds to complete the project. I also have $13,000 available in personal savings to contribute toward the final stages of the renovation.

I’m seeking a short-term funding solution to bring this project to completion, with a strong exit strategy in place. I believe this project presents a mutually beneficial opportunity, with a low loan-to-value ratio and significant built-in equity to protect your investment.

Additionally, if your lending structure allows co-borrowers or co-signers, I’m open to adding one to help strengthen the application if that helps meet your lending requirements.

Please let me know if you offer any loan programs that align with this type of project, and what documentation or next steps would be needed to move forward. I’m ready to proceed and can provide any further information you may require.

Best regards,

Bernard