All Forum Posts by: Ko Kashiwagi

Hi Donyea,

Love the Birmingham market and I've worked with a couple of agents there. @Corey Curtin has been a stellar agent for my clients.

I heard things that involve the city like zoning/permits can take a while in Birmingham compared to other AL markets so I'd be cautious of that.

If it's a flip, I'd look at the best flips in the closest mile radius sold in the last 6 months. Then utilize the same designs.

Hi Michael,

If you work with investors I'm sure they'd be willing to share the cost of their project so you can get them more deals with accurate numbers. You could pay the contractors but if you can be a strong referral source I'm sure they'd be happy to give you estimates.

Hi Ofir,

I personally like AL (Huntsville, Tuscaloosa) and I'd say OH markets are also popular.

Also there are programs out there that can do higher LTV with no FICO. There's "No-FICO" programs, ITIN programs, etc.

Hi Ryan,

Typically construction financing isn't based on your taxable income and rather more contingent on your experience, FICO and the deal itself. Also, you can possibly take equity out of your current properties instead of taking out a construction/hard money loans.

Purchase and Rehab Financing:

If you are doing simple purchase and rehab (not ground up), then it's not that hard to qualify and you just need to right broker/program. You should be able to go as low as 10-15% down payment with your experience.

Ground up Financing:

Most "ground up" financing options require a bit of experience - 3-5 exists (rehabbed & sold or rehabbed & refinanced in the last 3 years). These type of financing will usually go up to 75-85% LTC meaning you would up front the 15-25%.

Happy to chat further to answer questions.

^@Alex Bekeza

Hi Wenyu,

You can do a bank statement loan to qualify without tax returns if that's an option or you can use a no-doc solution. Terms won't be as favorable as conventional though.

Hi Trevor, what's the loan amount you're requesting and Is it one office unit? Programs (light-doc, full-doc) will depend highly on those two.

Hi Matt,

Definitely agree with NMLS and also reviews. If they don't have reviews after searching that's a bit of risk.

Hi Tariq,

Which areas are you looking at and how much are you looking to put down? Commercial programs a heavily dependent on location and NOI (less one size fits all compared to residential). If it's high LTV, most likely it's in the 6's to 7's for long term,