All Forum Posts by: Robin Simon

 For an investment property loan, 6% right now is not high at all, I would jump on it if its legitimate.  @River Sava can quote you on another option, but itll likely be way higher coming from us

Likely not - most DSCR loans are not assumable and end up in securitizations so are less likely to be able to have more creative solutions like this

Congratulations - this looks like a perfect example of a "first investment" and a model for other new real estate investors. VA financing, low purchase price and investment and big time returns (plus I'm sure very valuable experience)

Yes - I can help, we do rural properties but will limit at 70% LTVs on a rural STR currently

 Sent you a connection request - We'd love to help and sound like a perfect fit

Yes - we will be one of the lead sponsors, IMN thows great conferences, bi-annual SFR conferences and then in June this past year did a STR-specific one in Austin. It is definitely more of a business-oriented conference (lots of STR vendors, industry leadership panels etc.) more geared on bigger picture stuff than something like STR Wealth or BPCON which as a much less corporate feel to it and more practical for the day to day. If you are a 10-year veteran and looking to scale, theres a good chance I think you'd get value from the event

Its going to be pretty hard I would say to find a solution here, especially since you are looking to pull out more than your basis so soon. You'd be far likelier to find a DSCR solution if you capped yourself at the $138k basis and wait until the 3 month mark, but good luck!

If you are doing a conventional financing, then they are likely following the same rulebook and methodology on your income as everyone else since it all needs to qualify for Agency financing. However, it sounds like a "DSCR Loan" may make more sense for your situation, you and your partner would both guaranty the loan, but it would be completely limited to making up any balance post-foreclosure etc (so remote). Also, there is a much lighter qualification (doesn't look at your income or any other debts at all to qualify)

 Yes - its perfectly common and normal, especially in a rising rate market like this where instead of really jacking up rates, lenders will compensate by allowing you to pay more in origination fee (points) so the property will cash flow and still make sense for both parties

sounds like a great deal, congratulations.  Do you ever finance your flips or always all cash?