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All Forum Posts by: Ko Kashiwagi

Ko Kashiwagi has started 1 posts and replied 689 times.

Post: I would love a real mentor...

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

BP is a great place to network and I also find in person meetups to be great way to meet mentors!

Post: In Contract today! Looking for best loan option: 20% Down, Purchase price - 1.45M

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

What kind of property is it and how many units?

Post: First time out of state investor

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

Hi Amanda,

Some questions I ask.

- Do they invest in that market as well?

- Do they have off-market deals in the pipeline?

- Are they working mostly with retail buyers or investors?

- Will they go out to the property, take videos and go out of their way to show you the properties?

- Who do they know? Contractors? PMs?

It's important to ask questions up front, but it also comes with the understanding that you will have to churn through people as you find more information. As you start to do deals and make offers, you will see who you like and work the most well with!

Post: First time mid term renting

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

Looking into MTR in Thousand Oaks at the moment. Curious - what platform are you mainly using to rent it out?

Post: How to transfer loan from individual to LLC

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

Hi Sharad,

From the sub-to investors that I've talked to who've done many deals, I rarely see it being it enforced. However, if you have a reason to refinance (lower rate, more cash out) then it would be a much safer bet to get a DSCR loan and refinance into your LLC. Ultimately, it's up to the investor to take that risk.

Title is the one doing the title change into your LLC, but if you are doing this through a refinance, the lender/broker helps you and takes care of it

Post: 1031 and BRRRR

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

Hi Ryan,

No you would not be taxed on the refinance for a cash out refinance. I have heard things are a little different in New York so you might need to check that if you are doing it in New York. Best to talk to attorneys though because there are implications in terms of interest payments, closing costs, etc.

Post: $75k Cash-Out ReFi Needed - are there any W2 alternatives? Great credit and income!

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

What's the use of the cash out proceeds? Bridge financing or DSCR should be readily available given good credit

Post: Need financing for a renovation project on a Rental Property

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

If you are looking to resell it, likely a bridge loan would make sense. You can do a 12 month cash out bridge which will pay off your old loan and get you funds to do the rehab as long it appraises high enough

Post: New to the USA - 1st BRRR done.....Need help with strategy.

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

Hi Rob,

Are you a US citizen? If not and you don't have a green card, make sure to line up your financing well as not all lenders can provide full LTV without those requirements. For example, most programs will disqualify you or give lower leverage options for foreign nationals. A good broker should be able to direct you for the right program given your specific scenario!

BP is an incredible place to network and I've met many people through this forum so I'm sure you'll find the right people if you maintain being active. I've also met a lot of my network in person so highly recommend looking for those meetup events in TX!

Post: Any creative ideas for getting a down payment funded on an investment property?

Ko Kashiwagi
Pro Member
Posted
  • Lender
  • Los Angeles, CA
  • Posts 697
  • Votes 346

Hi Brittane,

Most rental programs will cap at 80% LTV, but with hard money usually it can go up to 90% of purchase price. If you want even less than that you'd need to use private money, partnerships, creative financing (owner financing, subject to, etc) for the most part