All Forum Posts by: Kyle Deutschmann
Kyle Deutschmann has started 8 posts and replied 387 times.
Post: Looking for a cash STR DSCR loan to replace my renovation loan
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Leon Daquin:
I am in dire search for a nicer - termed loan to replace my current Renovation loan. The property is finished and making a lot of money through the Six short-term rental units that I have created. It’s been up and running since January making approximately $20,000 per month. This is a single-family home yet. I have a. Where it operates at six individual units with six entrances, sort of like a mini resort, and it is in the heart of a very popular vacation rental area of Fort Lauderdale. I’m at the end of my Cash and I’m needing something quick. If anyone has any suggestions, I would greatly appreciate the advice. Thanks.!
Awesome deal! $20k/month is great cash flow for one property. Happy to chat and see if I can help.
Post: I Need a Down Payment!
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Kevin Mello:
I’ve been blessed with a rare and extremely beautiful opportunity. My landlord wants to sell me the 5- family building I live in but since it’s consider commercial I need 170k - 200k which I just don’t have. The basics are they will sell it for 200k under appraised value to ensure a trusted individual will take care of it, otherwise she will sell for full appraisal to a stranger. Is there any way I can get the funding to pull this off?? I’m thinking of starting a C corporation to keep my finances completely separate
Wow awesome deal! I would open an LLC (I've used Zen Business to create LLCs for myself - others I know have used Legal Zoom or a local attorney) and consider partnering with another experienced investor on your first deal. Managing 5 units for the first deal isn't impossible, but it might make you feel more comfortable and confident having another set of eyes and ears on the deal from someone who has done this before.
You can get a 30 year fixed rate DSCR loan on a 5-unit property for financing, OR you could use a bridge/residential transition loan if you need to close quickly or include renovation funds in the loan.
Post: Starting off with 32 units
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Cody Swyers:
Hello everyone,
Has anyone on here ever started off the investment journey with a 32-unit property or something comparable to that? If so, how did it go? what kind of financing did you use? and what did you do to come up with a down payment? I'm looking into the possibility of investing into a property like I stated above. I would need to get a loan for around $1.5 million. The down payment would be around $300k. After running all the numbers and saving conservatively for cap ex and other maintenance it would cash flow around $2500 - $3800 depending on vacancy. My initial though was to apply for a DCRS loan and either find a hard money lender or try to acquire a business loan for the down payment then do a cash out refinance in a year or so to pay off the down payment loans. Let me know what you all think, like I said I'm very new to this and am probably missing something.
Thanks in advance for any info,
As others have mentioned, that's a big leap from owning one single family home/a few acres with your family to investing in a 32-unit deal. If you want to make that leap, I'd recommend partnering with an experienced investor on that first deal as it will be hard to find financing for that type of deal with zero experience.
If the property needs to be rehabbed, a hard money/bridge/residential transition loan for acquisition and rehab would be the easiest and fastest way to close and get the money you need to fix it up.
Most institutional DSCR note buyers seem to allow up to either a max of 4 or 10 units for a 30-year fixed rate DSCR loan. For 11+ unit deals, agency multi-family loans could be the best bet for long term financing once the property is rented and stabilized.
If you don't want to partner with another investor, I'd recommend sticking with a 1-4 unit property or maybe 5-10 units at most for the first one.
Post: 100% financing does it exist?
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Michaela Hayes:
I am currently seeking a lending partner that offers 100% or near 100% financing options for new construction properties in the Philadelphia region. With over 10 new construction projects to date. I am looking to optimize my funding for three upcoming deals.
We can do 100% LTC financing on fix and flips, but not new construction. On new construction I can lend up to 90% of a permitted lot and up to 100% of the vertical improvements/construction.
Post: Lending on investment properties NOT in LLC
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Nishan Akwalia:
Hey I have a few fully paid off properties I would like to take equity out of. They are currently under our personal names and I would like to keep it that way. Are there any DSCR loans I could obtain with it not being in an LLC?
Hey Nishan, I believe we spoke previously. Yes you can obtain a DSCR loan without it being in an LLC. Happy to reconnect sometime!
Post: Any recommendations for a great mortgage broker in Cincinnati?
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Elan Adler:
Hey all! Sorry this isn't a detailed post, but I'm looking for a recommendation for a rockstar lender in Cincinnati. I currently own a few properties in the Southeast, but I'm looking to buy my first property in Cincinnati. I'm interested in 1–4 unit properties under $500K. I can put down a large down payment and am looking for a Conventional or DSCR loan.
Hey Elan, I lend in Cincinnati - happy to connect! We have some of the best rates/pricing right now for 30 year DSCR loans. We can also broker up to 40 year DSCR loans as well as help out with rehab financing if you are buying fixer upper rentals.
Post: Dominion Financial Company
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Sebastian Bennett:
@Derrick Lewis It's a sales gimmick. Once you complete their application process, they will determine you don't fall under their top tier borrower qualifications and propose terms that are far less favorable. Hear they drag borrowers along and by the time the borrowers learn their leverage fate it's too late to shop the loan elsewhere. I don't believe Dominion is the only hard money group to do this but that's how they get borrowers like yourself through the door. Anyone else have this experience with Dominion?
Hey Sebastian,
Sorry to hear about your experience. I’m not sure who you were working with, but I’d love the chance to chat and earn your business back.
We aim to keep things straightforward with commonsense underwriting. We underwrite you as a borrower/guarantor based on your experience, liquidity, and credit—no upfront application fees for a pre-approval. This helps you see what leverage tiers you qualify for before submitting offers or moving forward with us as your lender.
We do offer 100% purchase and rehab financing up to 70-75% ARV, though leverage may be limited for heavy rehabs, new construction, or 5+ unit deals. If you have a deal on the table, I can provide a preliminary quote in 10-15 minutes. Once pre-approved, we'll underwrite your deals in 1-2 business days with a desktop valuation and confirm max leverage.
I don’t typically charge upfront fees unless it’s a complex deal, so there’s little risk in getting a quote and giving us a shot. Let me know if you’d like to discuss further!
Post: Dscr refinance from fha sonyma
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Keith Lincoln:
Here's my situation.I currently live in upstate New York but am looking to move to Texas. Me and my wife currently have a sonyma fha loan.I have no other dti except for my mortgage payment. She has our mortgage payment and 2 vehicles in her name. I want to do a bank statement loan(I'm an independent contractor)with just me on the new loan in Texas . But we do not want to sell our current home. We want to rent it out. Sonyma loans are only for occupants. My question is can we create a LLC for her and Dscr refinance our current property into it to free up my dti? House is worth 260k and we owe 200k on it. Monthly payment is 1900 with a 6.5 rate and would rent for 2500.
posted in another group but realized it was the wrong one
Hey Keith, I've helped other clients do this sort of thing - vacating a primary residence and then pull out cash to purchase another property elsewhere. Most DSCR lenders actually prefer you to own the property in an LLC, although some do allow you to close in a personal name. Since it's your current primary, you would need to move out, change your address, and likely get a lease in place before closing on the DSCR loan since the lender needs to prove this is a "business purpose" loan and not a loan on your primary residence.
Post: Looking for Hard Money Lenders in Austin and Nearby Cities
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Chris Magistrado:
Love to connect. Looking for Hard money lenders for flips, then to refinance into a traditional mortgage.
Hey Chris, that's exactly what I specialize in - bridge financing for acquiring and rehabbing a property, and then 30 year DSCR financing for turnkey rentals once the property is fixed up. Happy to connect sometime.
Texas is a state we like to lend in, so we generally are more lenient and bump up our max LTVs by 5% there (on bridge loans).
Post: I need a hard money loan
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Damein White:
Any referral for a hard money loan out in Ohio
What type of deal are you looking at? Fix and flip? New construction?