All Forum Posts by: Robin Simon

Hello everyone my name is Tony and I’m happy to be here,  and I’m looking forward with working with some of you here this podcast rocks! Aloha 🤙🏻

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $220,000
Cash invested: $650,000
Sale price: $1,110,000

This stunning sun-drenched home features exquisite crown moldings, millwork, and exceptional finishes throughout. Viking appliances adorn the gourmet kitchen which features fine custom cabinetry, granite, a pot filler faucet, a wine fridge, and a built-in microwave draw. Expansive great room featuring in-ceiling speakers and a gas fireplace leads onto a gorgeous composite deck and beautifully landscaped yard. The vaulted ceiling in the mas His & Hers walk-in closets, skylights.

Hello! First-time homebuyer here. I recently came across the Fannie mae home style loan, which I understand is a conventional renovation mortgage. I want to know what is the benefit to obtaining  a property under this type of mortgage vs. doing a traditional conventional mortgage and financing the renovations by other methods (ex: hard money or personal loan). Is this a strategy that most investors use starting out? What are the pros and cons for the home style loan? 

Hello, commercial rates seem crazy right now. curious to know what everyone is paying for commercial rehab loans. 

Get a pre qualification, it's free. Are you serious about these offers you're making? 

I am self employed and curious as to my lending options.

I file my taxes and claim all my income and make my deductions.

I will be using 2021 and 2022 tax returns.

I am 100% owner of an LLC S-Corp.

My self employed income starts in 2021 and my LLC was founded January 2022.

I have a business credit card and bank account.

My income when working is consistent and predictable. However, the hours I work are inconsistent (by choice) as I do freelance and contract work (no 1099) and like to travel etc. My 2021 and 2022 incomes however are consistent with one another.

My 2021 income also includes a fairly small amount of W2 income, as well as some stimulus check and unemployment BACKPAY income. (I returned to work August 2020)

I will be working regularly from later September 2022 through the foreseeable future, so I will have bank statements to provide.

I will be filing my 2022 tax returns in February so I would be looking at more conventional lending in March.

I make quarterly estimated tax payments.

Credit score high 700s. No debt.

I am looking for either SFHs (STRs, MTRs, Section 8, student housing) or small MFHs (student housing, MTRs, LTRs).

Locally, I'm in Allentown, PA. OOS I would be looking primarily at NC, possibly WV, at this point (Midwest and South).

I'm foremost interested in STRs, MTRs, and student housing.

What types of loans am I looking at for my situation?