All Forum Posts by: Nicholas Ruscio

Hey Keith, 

For a portfolio loan of that size you should be looking at a rate of below 7% with 70% LTV for a cash out refi. (30-year fixed).

Please feel free to send me a DM.

Hey Annup, 
It sounds like you're dealing with a potential fixer-upper property that requires a significant amount of renovation and repairs. Assessing the After Repair Value (ARV) and running comparable property analysis (comps) is a crucial step in determining whether the investment is financially viable.

To do this yourself requires alot of research. I highly recommend working with a realtor

Comparable Properties (Comps): Look for recently sold properties in the same neighborhood or nearby that are similar in terms of size, layout, condition, and features to the property you're considering. These properties should ideally be within the last six months to a year. Try to find at least three to five comps for a more accurate picture.

Adjustments: Compare the sold prices of the comps to your property's current condition. If your property needs significant repairs, you'll need to adjust the sold prices of the comps accordingly. For example, if a comp sold for $350,000 but your property needs $50,000 in repairs, you might consider the adjusted comp price as $300,000.

Calculate ARV: Once you have gathered all the information, you can calculate the ARV by adding the estimated cost of repairs to the adjusted comp price. For example, if the adjusted comp price is $300,000 and the estimated repair costs are $100,000, your estimated ARV would be $400,000.

If you have any questions about loans/financing please feel free to send me a DM. 

Hey Anup,
Additionally with a fix and flip you can do a DCSR cash out refi which would give you additional funds. Lastly you should be able to get a competitive loan with 1.0 DSCR based on the programs I have seen. Please feel free to send me a DM with any question's.

Hi Syd, 

Thats great you are planning with your son. 

Are you or your son planning to live in the property? Do you currently own a primary residence under a FHA loan. Please feel free to send me a DM!

Hi Chris, 

How long have you owned the property? For a cash out refi you would be most likely looking at rates as low as 8% with 75% LTV. In my opinion you could use that cashout to invest in other properties to offset the larger interest rate. Please feel free to DM me with any questions.

I love multifamily properties! Great return and debt to service ratios. Feel free to send me a PM with any questions. 

I would look in the tech hubs. Cities with a strong tech industry, such as Seattle, San Francisco, and Denver, can offer consistent demand for rental properties due to well-paying jobs.

If you into Airbnb/ STR markets with a strong tourism industry, like Miami and Las Vegas, can provide short-term rental income.

Lastly cities in the southern and western United States, like Austin, Atlanta, Dallas, Phoenix, and Orlando, have experienced strong population and job growth, making them attractive for real estate investments.

Hi Alina, 
If you do not have an SSN, you might need to explore alternatives, such as using an Individual Taxpayer Identification Number (ITIN) if applicable or working with a bank that accepts non-resident accounts. Please feel free to send me a DM. I have worked with many foreign investors that I can connect you with for more specific questions. 

Here are suggestions for banks: 
Wells Fargo: Wells Fargo offers the "Everyday Checking Account" for non-resident aliens. They accept a valid passport as identification.

Bank of America: Bank of America provides an "Advantage Banking" account for non-resident aliens. They might require a valid passport and additional documentation.

Citibank: Citibank offers "Access Account" and "Basic Banking" options for non-resident aliens. They may request a valid passport and other identification documents.

Chase Bank: Chase provides a "Chase Secure Banking" option for non-resident aliens. They might require a valid passport and proof of legal presence.

TD Bank: TD Bank offers accounts for non-resident aliens. They might request a valid passport, foreign driver's license, or other forms of identification.

PNC Bank: PNC Bank offers "Standard Checking" and "Virtual Wallet" options for non-resident aliens. They may ask for a valid passport and proof of address.

HSBC: HSBC offers international banking services for non-resident aliens. They might have specific requirements based on your home country.

Santander Bank: Santander provides banking options for non-resident aliens. They may require a valid passport and additional documentation.

Nice flip! 

Do you ever consider renting and holding? Did you get a loan for the renovation? 

Hi Morgan, 

I would look into getting a DCSR Loan. Typically you need 20-25% down and the rent offsets the debt to service ratio. 

Please feel free to connect. 

Hi Sean, 
Houston is a hot market for real estate. Keep in the mind the cost of flood insurance when searching in the North west area. Even far inland there can be flood requirements to close. 

I would look into a DCSR or fix and flip loan to get you started. They are great for multi-family homes. 

Feel free to send me a DM with any questions.