All Forum Posts by: Michael Mastantuono
Michael Mastantuono has started 27 posts and replied 43 times.
Post: Starting a Retail Business
- Realtor
- PHX AZ
- Posts 47
- Votes 20
hello,
I am intent on starting a non profit 2nd store, something like the Discovery Center.
After talking with a commercial real estate agent, he has informed me I need to come up with a well detailed business plan to pitch to the prospective land lord.
Honestly, I have years of retail experience and have worked closely with managers at donation centers, but putting together a business plan seems overwhelming.
Any suggestions for online training or where how I might go about understanding what is really being asked?
thanks.
Any guidance would be much appreciated.
Post: Thoughts on DSCR Loans
- Realtor
- PHX AZ
- Posts 47
- Votes 20
Hello, Regarding using DSCR loans for small multifamily units (4units and less), If you are able to add value to the extent that a refi is possible, will that refi still be from a DSCR lender? Or, do you need to show additional income and credit history if you try to get into a convention 30 year loan?
Post: Thoughts on DSCR Loans
- Realtor
- PHX AZ
- Posts 47
- Votes 20
Quote from @Alex Breshears:
Hi Tim! Welcome to real estate investing! Now DSCR loans are loans that are looking primarily at the asset to pay for the liability of the mortgage. They are termed Debt Service Coverage Ratio. For investment properties, they are looking at the amount of income generated compared to the debt service on the loan. Right now, their interest rates are really high. There is a lot of uncertainty in the market for institutional capital, which funds a lot of these types of loans. For investment property, I would say commonly you are going to have 80% to 75% LTV. They may or may not require underwriting on you as a person, including credit checks, asset levels, etc. On the plus side, if the property cash flows with a DSCR loan, when it comes time to refinance time with a lower rate it will improve on cash flow lol. This is generally going to be a loan product for a long term buy and hold property.
just updating this topic.
according to ADRE:
Pre-licensing education must be completed in-classroom or online from an ADRE approved Arizona real estate school.
Post: Anyone have experience using DSCR loan?
- Realtor
- PHX AZ
- Posts 47
- Votes 20
Hello, has any used a debt service coverage ratio loan? Makes sense to me to get the loan based on the value of the deal. Plus, since I don't currently have a full time job, getting qualified for a loan isn't going to happen. Also any referrals for companies you have used for this type of lending? Thanks.
Post: Do I need an agent to represent me?
- Realtor
- PHX AZ
- Posts 47
- Votes 20
Hello, a lot of information about running numbers on Multi family properties but when you find a listing that is obviously already represented by a broker. Should I find a local broker to represent me or deal directly with agent who has the listing?
Post: Port Clinton, Ohio Airbnb
- Realtor
- PHX AZ
- Posts 47
- Votes 20
hi sorry, if i sound dense but you are talking about Port Clinton OH...correct? lol I know this is probably a dumb question.
Post: Appraisal waiver needed
- Realtor
- PHX AZ
- Posts 47
- Votes 20
Hello, wondering what markets people are buying in that have required appraisal waivers. Looking for areas where appraisals have not caught up to market demand.
Post: Los Angeles City Rental Agreement
- Realtor
- PHX AZ
- Posts 47
- Votes 20
Thank you for the response, I will check it out!
Post: Los Angeles City Rental Agreement
- Realtor
- PHX AZ
- Posts 47
- Votes 20
Hello,
I have a house in Reseda Ca that i will be renting out. need some advice on getting a good rental agreement. Does anyone have one that they know is legal for LA City? Also, how do you add addendum to a rental agreement, for example if you want to have a quarterly inspection or to make sure they can not sublet? Or, which online resources did you use or recommend for rental agreements?
Thanks.