All Forum Posts by: Obin Olson

100 sfrs.

So, I am looking at a SFR bundle that cash flows well, however the lender needs to get some value on the deal. the problem is from my basic comps, and square foot prices etc it is very close to being a "no go" situation for the lender.

Problem is. I have to spend 50k on SFR appraisals to get to the step that the lender will say yes.

How do you guys get around putting down that type of cash when you don't even know what the answer is going to be. And in my situation it's really close so I feel it could fall the wrong way really easily.

Please advise any smart way to play this.

So does the "blanket loan" exist for sfr?

Have LLC but not put props in it yet....still looking for someone who can ACTUALY work with me.

70% LOC would be great. I would prefer a loan as I could then take the proceeds and use as down or rehab money for the next deal but would consider a LOC as well. Local banks will not give me that. :(

It's great but not so good being stopped in my tracks when I was on a clear plan and it was working. :(

I have been to local banks, they want seasoning and they want ltc mostly not ltv..ltc is so low it's a lot less of a help then LTV at say 70%

Hello everyone here is the problem:

I was on cruise control getting sfrs and rehabbing and leasing up till I hit the skids with the "more then 4 mortgaged" homes and they will no longer allow me to cash out on what I own at LTV. So I have 3 free and clear with a total value of 375k

Now I can't find anyone who can cash me out so I can keep going, buying, fixing, renting you know the drill. So....good credit 720...good dti good dcr someone must have a product for me.?? Own a total of 8 sfrs 3 are free and clear.

the problem is seasoning...for example someone on here just turned me on to a lender that would work with me...turns out they need 5 years of ownership before they will look at LTV..till then only LTC :( I have homes that have 50k purchase price and a 2 week old appraisal of 155k in todays market! I need to find someone who will take into account all this market equity I have. and let me get 70% or so of it back so I can rinse and repeat. with a larger mulitfam purchase this time. help. Been looking for almost a month now with no answers in sight. credit is 720 3 homes free and clear with a value of 375k own a total of 8 sfr investment props all cashflowing well netting about 40k/year on top of my job and her job and we spend very little to live on in our general lives. ...someone must be able to get me cash out on this?

Tyler who does it? I have 3 sfrs that are free and clear with 12 mo seasoning and can't find anyone to refi out 70% ltv!! in NC. help!!