All Forum Posts by: Matt Cartwright

If you are looking to go conv feel free to reach out to my contact Wes Black with Zillow Home Loans 614-204-2736

If you are looking for a lower LTV I am still finding pricing at the 5.99% range so it all depends.

If you are comfortable getting a bridge loan through private money you can still get 20% down payment on anything 1-4 units. Interest will be higher and the term will typically only be for 12 months but it helps with the buy and rehab portion of the BRRR method. @Davis Pemstein

 We do yes!

@Bernard J.

It's a real thing, we lock our rates for 90 days. We don't securitize our loans so we don't have to worry about the secondary market and feel comfortable enough locking in the rate sent out on the LOI.

@Nicholas L. I do agree with what Nicholas is saying. DSCR loans will typically have a minimum FICO requirement of 600+ so there is a chance that option is not available. A bridge loan will likely only be for 12-24 months and the rate will be upwards of 8-10% just depending on the scenario.

One positive though is potentially that 1-2 years will give you the time you need to establish a better FICO score and once ready you can switch things over to a conventional loan or DSCR.

Depends on what kind of loans are being provided - for instance I work with a private money lender and we have long term rental products with fixed rates of 5,7,10yrs so you don't always have to refinance out of "hard money" immediately. If the property cash flows and you were able to keep it under an LLC all the while that's the goal!

I personally am not aware of any other types of lending that could be used for this type of investment. Typically for an LLC to be on title it will be private or hard money loans.

Hi @Sean Peabody this is definitely possible and actually preferred on the private money/hard money lending side in most cases. If you are looking at doing that under a conventional loan however they will not close under a business entity. 

@Alison Rodriguez Hi Alison, congrats on getting started on your newest project! We work a little bit differently than most lenders as we are able to start the cash out refinance process immediately and actually do not even need tenants in the property to qualify. We would essentially just use market rents we see in the area for DSCR purposes.

We are capped at 75% however we will use the new market value with all the added value from the repairs you have completed. 

Let me know if you need any guidance!