All Forum Posts by: Richard Loniewski

A DSCR loan, they're low doc and can close in a few weeks. Need 3 month seasoning, 75% LTV rates between 7 / 7.5% depending on credit. I just closed on 2 cash out refinances this week for 2 of my borrowers

3 month seasoning, 75% LTV rates from 7 to 7.5% depending on credit and experience

That's how I started, didn't have the capital to do a flip or buy a rental, quick turnaround and little risk. You do have to become good at deal analysis so work on knowing your numbers. Start building a buyers list. If the deal numbers are good you will have no problem wholesaling it!

Start Networking on Social media and live events, start building relationships with buyers, wholesalers, lenders and possible capital partners to JV with. My first deal I needed 2 Joint Venture partners to get it done (one for capital and one for experience). Been in the game for several years and I am still always networking!

I've been in the business for several years now as an agent, investor and lender (primarily in N Jersey, feel free to reach out 908-635-2069

Look for a Joint Venture partner that can come on board for his credit, give them an equity share. In todays market investment lending relies heavily on credit score so start building back your credit as well, but for the short term find a credit partner.

In NJ it's a simple process took me 20 min online, so I Just form them myself, make sure you gent an EIN number as well