All Forum Posts by: River Sava

I am thinking of using a portion of my property as a studio apartment rental! Has anyone done something like this, what were some great things and of course some bad things you encountered? I am starting off and trying to increase the cashflow so I can really invest, was thinking this could be a good start for me.

DSCR or (Debt Service Coverage Ratio) loans are loans granted on the bases that an investment property will cash flow based on a 1007 Rent schedule appraisal.

The rent schedule is based on LTR rents.

The greatest advantage to these loans that there is no income or employment required to qualify.

I wonder for investors out there that look at properties for STR, when you do an analysis of the property for STR would the property still cashflow for LTR as well? I assume you look at STRs for greater cash flow, but interested on the comparison between the analysis of a property for STR vs. LTR.

Thanks

How is the STR business currently in Mesa, Arizona for those of you who own there? I'm also looking for the most knowledgable and experienced realtor in Mesa, Arizona with STRs. Anyone have a referral? Thanks.

Hey BP, 

closing in 27 days on my first hard money deal. Six month minimum, 30% down, 11% interest only. Loan will be for $245,000 (in California) 4/1 in poor repair with a second parcel fenced flat buildable about half acre. 

I’d love opinions on my deal, but that’s not why I am here. 

I am curious what to expect when it becomes time to refinance out of the high interest loan? 

Specifically how does LTV work?
let's say appraised ARV is $500,000 and I am invested $350,000 (full purchase price) + $60,000 (renovation)

Do I have to leave 20% in like a conventional loan? as in my renovation dollars will be stuck in the deal? Will I need to bring more dollars to close if I end up invested in the property 85% of ARV? Help my with my most preferable exit strategy

Lastly, how challenging is financing out of hard money? 

Looking to buy a multi family house on Worcester.

I would love to talk to a good realtor. Any suggestions. Thanks.

Hi

I'm an investor who's working in the local Philadelphia, pa. market. I'm looking to team up with investor friendly real estate agents.