All Forum Posts by: Emily R.

I want to organize my business books better to be able to quickly apply for loans, LOC, share with an accountant, file taxes, etc. I have 1 property in my LLC and I'm about to buy 1 more within it. Both will be managed by my PM who uses Buildium. I want to be able to pull statements quickly for my LLC that looks similar to the one I get from Buildium for my business that includes my mortgage, insurance, repairs to property (that happen before I hand them off to the PM), rental license fees, general business expenses like for my virtual mailbox & registered agent, etc. I essentially want to be able to marry the data easily from Buildium to quickly so I get a full financial view of my business. Would QuickBooks be my best bet or is there something else that would fit my needs better?

Need help with basement foundation, exterior cement, electrical, gas, plumbing, and flooring. Any and all references welcome

Hi Brittany, thank you for explaining! I was also able to speak to someone yesterday about conventional financing and even with a quitclaim into my LLC, my DTI is too high with renting primary residence. The piece I was missing was that even though I have a sublease/dont pay the full rent amount, the entire rent amount is calculated into my DTI which I can't do anything about for another year or so. I'll be looking into getting a DSCR loan. It sounds like there are some DSCR loans where the prepayment penalties are only within the first 5 years of the loan.

I'm absolutely open to a DSCR loan but preferably for the property after my next one. My credit score is over 800 and if I need to get my roommate officially on the main lease or put down more so my DTI is closer to 35 I'd be willing to if it means I could qualify for a more conventional loan. I think that would be well worth it for the lower interest rate & closing costs

I want to buy my next rental through my LLC, but I have no income/activity in the LLC. I was not able to get a loan at KeyBank a couple years back for that reason, but I feel like I should be able to easily be approved. My DTI is around 37-%41%, depending on if I'm able to count my roommate's contribution toward my rent (they are on a sublease, not the main lease.) I'm looking to buy a property where the total monthly payment would be anywhere from $1000, and monthly rent would be around $1500 in zip code 19124

The product I'm looking for is a regular mortgage for a SFH long term rental with a PP of up to $200k on a 20-25 year term in my LLC so commercial. I'd like to put down 25%, but if I'm more likely to get approved with more money down, I'd like to know so I can plan accordingly. I feel like this should be small potatoes for most traditional lenders, but let me know if i am completely wrong. Thanks in advance.

I have a cash deal under contract that I'm looking to refinance at appraised value rather than acquisition price right at closing. It will probably appraise for around $100k. It will be titled in an LLC. Can someone recommend a lender to work with?