All Forum Posts by: Kris Holt

J.C.,

I'd be happy to help and would more than welcome a preliminary conversation, and even be willing to generate a hypothetical term sheet for what you're looking to accomplish.  We don't need income docs or anything of that sort and our rates are competitive with banks.  If you'd be willing to answer some surface questions about yourself and what the deals would look like, I could get you an idea.  Let me know and we can set something up.

Henry,

It sounds like you are a sophisticated novice and thought through many aspects of what you're doing. In the end, what works...works. But many of our clients utilize our DSCR loans to purchase and re-finance long-term rentals (LTR) and we have to loan to an entity because it is a commercial loan per se, so that wouldn't be problem for us. Sounds like the rate you got by buying down a point would also be in line with what we offer as long as credit and the appropriate amount of liquidity are there. We also offer portfolio and multi-family loans and refi's. I would keep asset-based loans in mind moving forward as you progress in your investing journey. The more experience you get, the better terms you are able to obtain, and the process is often easier and faster. Good luck with this one and keep up the good work!

Looking to make new connections in Atlanta, greater GA, FL, AL, SC, TN, and NC. I'm an asset-based (hard money) lender from Atlanta with an extensive 15-yr background in residential and commercial real estate looking to learn more from the BP community and how I can help those that need investment financing. Also interested in networking to learn more about my personal interest in STR's primarily in the Tampa, Bradenton, and Sarasota markets along with other southeast coastal and mountain markets. Looking forward to connecting!

Andrew, like many others expressed the first step is off base which puts all of the others into question. If you have a low interest rate on your primary mortgage, that's cheap money and low cost of capital. The cost of capital is higher in today's environment. I would explore your options for other sources of capital such as a HELOC or private (hard) money. It may be easier to get than you think and not as expensive as you assume. You're obviously a planner which is great, but things won't always turn out as planned. Things change and evolve although exit strategies are a must. Focus more on the goal in the long term and break it down in the short term and start there.