All Forum Posts by: Matthew Davies

Hi @Jonathan Krauser - check out the list of recommended DSCR Lenders provided by BP. You can find local lenders there also.

Hello, how much debt do you have on both of the properties?

Hi Frankie, we're a private lender based in Tampa - our specialty is DSCR loans. Happy to provide guidance!

Hi Jillian, you can also use the "find a lender" option here on BiggerPockets to find FL DSCR lenders!

Hi Giora, some lenders can use market rent instead of in-place rent for purchases. You can find them at "Find a Lender" here in BP. If you don't need to do rehab it could be the way to go - note that LTVs usually max out at 75% for portfolio purchases (not always the case with some lenders). There are also release clauses associated with a portfolio loan that you'd want to be aware of. Buying using a bridge loan could be helpful if you think you can build equity and want to do a cash out refinance after. Depending on the price points of the properties it could get expensive to do a couple of closings (bridge to refi). 

I agree with comments above. Interested to know if its the same seller, or multiple? 

Hi Jake, you'll find some lenders out there that will go down to $50,000 value per SFR if you package a minimum of three together. When you buy cash, you are generally looking at a six month seasoning period. Costs will seem somewhat high due to the asset values (fixed costs of lenders - same for a $100,000 loan and a $1M loan). Call around and be prepared to share all details about the properties for accurate quotes/qualification. All of the above is in reference to a DSCR Loan.

I've spoken to a few borrowers who have mentioned "Civic 2.0" is launching 09/01 - with 80% cash out LTVs. Can anyone corroborate this? 

Hello Byron - I agree with Robin above. Need more information but, If you do not want multiple closings a DSCR "Portfolio"/"Blanket" loan would be a decent option. This would be a 30Yr Fixed Rate. As mentioned in other comments, there are nuances when it comes to a portfolio loan - sometimes lenders mitigate the LTV slightly (75% LTV for a purchase rather than 80%). There are also release clauses - if you want to sell or refinance a property within the portfolio you'd have to pay down an additional 20% towards the principal note. Furthermore, portfolio rates are slightly higher than individual loans. Good luck!

Hi Joshua! I represent a DSCR Lender based in Florida and close to your target market. Happy to help offer guidance!