All Forum Posts by: Prashant Sheth

How many people attended this?

So I see a few lenders out there where my refi rate may be higher than the purchase rate

Why is that?

If that's the case and I have an asset in an LLC can I "sell" that to a new LLC?

What would be the less expensive option? What are the implications in taxes with depreciation by using this?

@Shinwon Moon I'd love to know more about Killeen

@Josh Twaddle Austin here!! Let's do it this week

Seems like you have a lot of responses here. Like most people said you are likely to get 75% on your existing properties. The question really then is.. what are you goals? are you looking to create cash-flow streams (rentals) or appreciation. BRRRR definitely meets both criteria, however since you aren't local to the US it maybe a small challenge to find that managing the remotely is a pain. It'd be great to actually create an investor friend or 3 that would be your working partner while you get to be the finance partner. Such partners are good to have if you can workout a deal that is fair to both sides. This way your money works for you while you are in Japan working on whatever it is you do there.

I helped another couple (friends of mine) just buy a 4-plex in San Antonio, they wanted a simple revenue stream and went through a learning curve for first time investors (what they want, don't want, manage, don't want to manage, etc).  On the flip side, since we are friends my help was super cheap :-)  

Do you visit the US frequently that you can manage this on your own or are you here infrequently.  Feel free to reach out if you are interested in central Texas market

@Steve Mahnke when you have great credit and high limits you can get low interest balance transfer checks for 12-18 months. You can use this as down payment and the pay off into traditional refi or sale

Sure. There are lenders that will lend below 600. All day. It's closer to 65% LTV in most cases. Private money. So interest is between 8-13%. Better than HM for sure.

I am Looking for better.  And it's for investment.  

How does one find a non QM lender to lend on portfolio w a sub 600 score?

I've reached most people on the resources list and they aren't able to lend at 70% LTV

Thanks for any pointers

Thank you all for your help,  the tenant had indeed left and i'm getting the property ready for a new tenant.  Thanks again for your generosity to respond to this!

HI,

Through a series of cirumstances I have low credit and cash at this time and own some rentals (with mortgages)  How do I find a lender that can work with this in a relatively reasonable interest rate (< 7%?)  Is this possible or am I complete sunk and have to sell the properties?  Any suggestions ?

Thanks,