All Forum Posts by: Robin Simon

When you get to the 12-unit count, its really graduating more towards the small balance multifamily/commercial financing space rather than non-QM, residential, "DSCR" lending practices, which are being discussed above and mostly on these forums. I would seek out a small balance commercial mortgage broker

$75k is usually the bottom of the barrel limit on DSCR single asset single loans unfortunately. But as @Erik Estrada says, if you can bundle these into a portfolio, the allocated loan amount can typically be a bit lower (down to $50k or so)

The problem you are likely having with DSCR loans is that Kansas is one of the few states that outlaw prepayment penalties on rental properties, so DSCR lenders can only offer loans with no prepayment protection, which results in the much higher rates (Prepayment Penalties are a key tool for DSCR loans to give rate relief). A rough example of gov't regulation actually harming the people it is purportedly supposed to help.

Welcome to BP - you've definitely come to the right place for building the team.  I'd be glad to help you out on the lending side, both on the hard money side and long-term financing for properties with tenants in place!

Hi - would love to work with you - Easy Street Capital is ideal for BRRRR since we have best in the business Hard Money AND Refi (DSCR/nonQM) options all in one house, so you can do both your hard money and refinance with the same place!

Yes - probably a bit higher potential on the realtor side BUT way more competition and saturation, as if its easy for you to jump in and have big potential...that means its easy for everyone else too

This was an interesting article that came out today on the massive oversaturation of real estate agents out there

https://www.zerohedge.com/mark...

Good/interesting article from Mortgage News Daily that came out on Friday - sharing, lots of good tidbits about mortgage backed security bonds, the rate environment and where we may go from here

https://www.mortgagenewsdaily....

All that to say the market was ready for any indication that the Fed is getting close to leveling off the pace of its rate hikes. A short while later, such notions were forcefully validated by actual comments from the Fed's Mary Daly, who said several things that markets had been waiting to hear. The following bullet points paraphrase those comments:

• We want to avoid an unforced downturn by overtightening
• If we wait to see lagging variables like unemployment and inflation return to a steady state, we could easily overtighten
• We are starting to see the economy slowing
• We are now in a stage where we need to be thoughtful
• A slower pace of rate hikes should be considered at this point

All of the above is very important because it suggests the sentiment exists among Fed members to begin to consider a rate-friendly shift in monetary policy. To be sure, this by no means suggests and easy victory or quick return to lower rates. It also wouldn't lessen the importance of economic data in confirming that inflation isn't getting any higher. But it's one small step in the right direction--one small seed of hope in the ashes of the housing and mortgage market in the 2nd half of 2022.

 Thank you - Yes, we lend in Ohio for sure!

good stuff!

crazy times we are in right now, more important than ever to stay on top of both local market conditions and the broader (not just national, but global) market happenings

It's pretty hard right now to find newly purchased or on the market properties that can get that much annual income.  Typically, investors like the "1%" rule - which is 1% per month or 12% annual as a good benchmark, but that has been increasingly hard to find with values being pretty stubbornly high even through the massive increases in rates this year