All Forum Posts by: Robin Simon
Robin Simon has started 636 posts and replied 3875 times.
Post: Hi, I’m new here, let’s do this!!
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
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Quote from @Beth Blankenbicker:
@Benjamin Aaker I am currently a traveling nurse and I plan to continue for a few more years but I have just about hit my breaking point. Real estate is my exit strategy. I have been reading and listening to podcasts and attending local investor's meetings and I feel ready to jump in. I would like to flip a property or two to build up some capital and my long term strategy is buy and hold. Wholesaling sounds interesting but I"m always on the go and I just don't think its a good fit for my current work schedule.
Welcome! In a choppy market, I would be more open to optionality in strategy - go in with a rehab investment with an open mind to either flip or BRRRR at the end, whichever way the numbers point to!
Post: New member who's ready to invest
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Welcome! Good luck on your real estate investing journey!
Post: AIRBNB Ready Property in DESERT FALLS COUNTRY CLUB - Palm Desert!
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Have you had trouble with potential buyers securing financing? We specialize in lending on these types of properties so let me know if you'd like to hear more about our easy-qualification programs to potentially help potential buyers be able to secure a loan to buy @River Sava
Post: Investor’s Guide to the 5 Waves of Commercial Loans
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
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Good list but there can be a lot of differentiation among lenders! Not all will continuously change terms along the way or ask for extra docs at the end, important to judge the lender's reliability and process as much (if not more!) than necessarily the best rates and terms!
Post: Interest only loan pros and cons
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Quote from @Khandbari Rai:
I am trying to get interest only loan to scale my portfolio and increase my cash flow. I would refi later . Looking for some inputs. Thanks
Pros:
-Lower monthly payment = higher cash flows
-Save more equity than paying down principal, can be utilized in other projects and to scale
-Generally better for tax purposes (no tax benefit to paying down principal)
Cons:
-Higher rate
-Higher risk (deleveraging over time give you more LTV cushion generally)
-Less cash out / harder to refi in the future (UPB will be higher)
Post: Current Rates and Loan Origination Fees
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Quote from @Brady Grubb:
Hey BP! Going through a refi / delayed financing on a property I recently rehabbed and I am just comparing numbers as they seem a little elevated even in the current times. SFH investment property.
30 year fixed / 75% LTV / total loan 265K - great credit. Interest rate is at 6.65% which seems a little higher than current rates, but loan origination fees with points total $4,253. Loan officer is a friend and has been great in terms of creativity so if this isn't totally out of line I will continue on but just wanted to do due diligence. Also curious if origination fees are often negotiated or should I leave it alone. I am located in Maryland. Thanks
Very competitive rates and terms I would say
Post: Kendrick, ID Fix and Flip 5-bedroom home
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
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Congratulations, thats a huge margin!
Post: $5.9M gain in 13 months
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
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Congrats, great looking deal!
Post: You always remember your first
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Congrats!!!
Great deal
Post: First Home Flip Success
#3 Private Lending & Conventional Mortgage Advice ContributorPosted - Lender
- Austin, TX
- Posts 4,576
- Votes 4,423
Congrats - looks like a great flip! Where was the property located? Flipping the next one or consider BRRRR?