All Forum Posts by: Ko Kashiwagi

Hi Petros,

Most lenders can't go that low but options are out there. I've financed plenty of deals at 70-75k both long term or short term. Happy to take a look

Hi Reed,

A HELOAN or HELOC may be a better option to keep that 2.6% in the first position. Also, if you are getting into BRRRRs, there are financing options that allow you to put as little as 10% down on the purchase so you don't need the full cash purchase liquid in your account.

Hi Seth,

Cash out refi programs are much more readily available and typically offers higher LTVs, but HELOCs on investment properties can be possible with some institutional programs or local banks. LOC is nice because it's revolving but rates tend to higher and typically you have to reopen that LOC every 1-3 years.

When you say short term investment, are you referring to Short term rentals? or hard/private money financing?

Rates for primary residence is usually lower than investment properties. Long term investment property financing can be in the high 6's to high 7's depending qualifications, and short term financing typically range in the 9's to 11's.

Hi Tyler,

What's the loan to value (LTV) you are requesting and the type of deal (primary, investment, purchase price, etc)?

If your employment is the sticking point you could go with asset based financing and compare rates

Hi Adrian,

Looks like you priority is to sell but it would be worth comparing options. What's the reasons contracts keep on falling out?

Since rents are below market, light doc programs may be more of a fit that full doc programs that are tight/strict on debt coverage ratios. Note that most of long term cash out options will have a prepayment penalty though if you decide to sell in the first couple of years.

Great to see other young professionals get into this space. What does your current income look like and have you talked to a lender who have shown you how to qualify potential rent from other units to increase your purchase power? When buying a multi-family (2-4), you could use the rents of the other units to qualify for a higher price which is one way to navigate these expensive markets.

Househack is definitely one of the best ways to get started but you could also consider out of state investing.

Hi Abigail,

There are times lender may require further documentation to prove the transaction took place (and sometimes require proof of consideration) but it doesn't make sense that they are making you sign the purchase contract now if you are already on title, unless he's making you forge documentation.

If you are not on title and they are structuring this deal as a purchase, then it could be a different story.

Hi Richard,

Justed DMed you. Happy to take a look

Hi Andrew,

Does the client have a US FICO score? I've financed foreign nationals with no rate adjustments as some programs just look at FICO and don't require green cards. Every program is different in how they determine foreign nationals