All Forum Posts by: Ko Kashiwagi

Hi Rae,

I know programs for 10% down for first timers but 0% down would be pretty difficult. I wouldn't say impossible as any individual can loan you money at the end of the day as a private lender, but most lenders won't even go to 0% with experience. It's also very risky to do 0% down, as even experienced flippers always mess up on budgeting/construction.

 Most lenders would not be able to do this or would be limited to low LTVs (60-65%). A few and some local lender could be higher if there's comps in the area. How close are comps and are there many?

Tough to refinance with late payments especially into 30 year mortgages. Doing another bridge financing may be possible. What's your credit score looking like?

Hi Ralph,

HELOCs on investment properties are possible but rates will be higher than cash out refi's. At least that programs I work with are based on income, not DSCR, meaning you'd need to either show tax returns or banks statement income to qualify. If you are specifically looking for an asset based HELOC on investment properties, I do know some local banks sometimes offer those

Hi Shak,

If you have added value by doing upgrades to the property, I do know of programs that can do it with no seasoning. With out any rehabs, most programs require 6 months, some 3.

What does your experience look like and what's the interest rate? Construction loans can really vary depending on experience and scope of work. 

Hi Reeves,

Experience in project management/construction and financing are definitely two key components. As for financing, I highly recommend lining up financing that meets your timelines. For example, even if you finish the rehab in 1 month, not all lenders can refinance using the newly appraised value after month 1 but some can. Some hard money lenders take 1 month to close and some can close in 1 week. Using business purpose financing and brokers/lenders that specialize in these deals should smoothen things out a lot!

Hi Ryan,

Which state is this in? Recently done this for a client but rates tick up quite a bit and the property still has to debt cover.

Hi Brandon,

Personally I think it all depends on what kind of "avatar" you are.

If you have high risk tolerance and have time to spend, active strategies like flips and BRRRRs will yield better returns and more opportunities. 

If you don't want to spend time or risk losing money, LTR and multi-family is rather safe.

Hi Eli,

Leverage may be capped on some programs but should be doable. Do you know how many lines of credit you have? I know a lot of programs will want to see 3+ active trade-lines. As long as the rehab is light-medium, you should have options. Happy to take a look