All Forum Posts by: Bob Green

Wesley,

When the investor is a newbie the HML approval will weigh heavily on credit score and liquidity.

Hello Lalisa,

Ill send you a PM.

What is the "as is" value? Depending on your credit and experience a hard money lender may lend up to 75% of ARV. If you do the max - $155,000 X 75% = $116,250 loan amount. You owe 80K. I think there is 25K available to you to fix up the property.

Is this a turn-key property or require rehab?

Hello Shayne,

If you go through a asset based lender your debts, income, employment will not be a factor in approving you. Your credit, experience and liquidity will be the main factors - good luck!

Hello Logan,

Will send you a PM

Hello Cathy,

In the case of hard money it would depend on your credit, experience and liquidity. Could be as low as high 6's up to 9's.

Monthly Rent X 75% minus taxes and insurance. This formula is used when the property was purchased in the same year as the purchase or refinance of another property.  

Hello Jonathan,

I review rent rolls for clients who own property all over the US. Some strong areas I see are Indianapolis, Kansas City, Philadelphia, and my backyard - Chicago. Other good areas Beloit WI and Michigan City and surrounding areas of IN.

Austin,

Asset based lenders do not look at your debts or income. They will look at your credit score, experience and liquidity.