All Forum Posts by: Kevin Woodard

Is your exit to refi? What is the ARV?

If it’s a primary residence and you’re working with a conventional lender you will have to close in your personal name.

There are loans that require you to close in an entities name and would be more than happy to talk you through that process.

If it’s a primary residence and you’re working with a conventional lender you will have to close in your personal name.

There are loans that require you to close in an entities name and would be more than happy to talk you through that process.

3 points is steep, but it make sense if the broker is taking 2 and the lender 1. How far back does the rental history go?

Cheers look forward to connecting

Our next meeting will be at Limoncello in Goshen. The meeting will be a networking mixer of investors. Key Bank will be in attendance.

Interested in Real Estate Investing? 

We would love to get to know you! Join our growing monthly meetup group, where you will find folks just like you who want to learn how to expand their businesses in a free, relaxed, no hassle, no sales pitch environment. Our monthly meetings offer many networking opportunities along with a great insight into the myriad of aspects of Real Estate Investment. Bring your business cards!

Sun Federal and Directions are two I've heard about from some associates out that way! Let me know if you have tried them.

@Leona King

If you are looking to renovate you’re going to want a hard money lender or a private lender to take on the project.

Post construction is when you want to look at a DSCR loan.

I sent you a PM and would be more than happy to help!

I agree with this. In the event there are multiple members of each LLC with their own operating agreements it gets sloppy. Check with your state, but a LLC can be a member of another LLC. Then you would draft an OA for that LLC separate from internal OAs.

But check with your state’s regulations and check with the specific lender. 

I agree with this. In the event there are multiple members of each LLC with their own operating agreements it gets sloppy. Check with your state, but a LLC can be a member of another LLC. Then you would draft an OA for that LLC separate from internal OAs.

@Matthew Tyson sounds like delayed financing is what you're looking for. Happy to assist and walk you through the process, but the boiled down version is refinancing at the purchase price at a certain LTV.

Key takeaways:

1. The value is what you purchased property for.

2. The LTV is anywhere from 65% - 75% of the purchase price I just mentioned.

Hope this helps!